Email from KenHi Sean,
I apologize if I didn’t return a previous email. I was in PNG for the first half of June and experienced some distraction with the flooding at the end of June. Regarding your questions below;
· Our press release today states that we are looking at other countries to bring Durabase mats into.
If this went ahead we would not be establishing a full presence in the country, but rather simply renting mats to a customer and managing from our current locations. To clarify my previous response to your question – we
currently have no plans to provide drilling services and/or full service offerings into new countries. That said – you never know what opportunities could arise.
· We do not publicly disclose our matting business model for competitive reasons. I can state that the margins earned from the rental of equipment is better than the margins earned from providing drilling services.
· Regarding the UBS seller – we do not know who this is. UBS can’t disclose who their clients are. You have speculated that it is Jed Wood. If it is Jed he should be disclosing his sales on SEDI as he is a material shareholder. Currently he has not filed any insider trading reports.
We appreciate your continued support as a shareholder.
Regards.
Ken Olson
Chief Financial Officer
Office:
403-508-7836 ext 103
Cell:
403-969-8791
ken.olson@haes.ca