TSXV:WEE.H - Post by User
Comment by
AboveBoardon Feb 06, 2022 2:42pm
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Post# 34402630
RE:Management Discussion
RE:Management Discussioninteresting
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Subsequent to the reporting period, the Company agreed to amend the General Services Agreement (“GSA”) with a United States E&P client, as announced October 13, 2021, such that the commencement date of the GSA will be postponed and commence effective January 1, 2022. All other terms, inclusive of the five-year term and minimum aggregate amounts will remain the same.
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Currently, all announced Powerwave® stimulation packages and purchase orders remain valid, and continued stimulation work may represent in excess of a threefold increase in fiscal 2021 USA Powerwave® revenues when completed and recognized. Multiple United States’ E&P clients have indicated that stimulations may commence in the near future; however, a commencement date, at this time is not assured due to direct and indirect implications of COVID-19. Subject to the commencement and continued quality of Powerwave® service to these existing and new clients, the Company anticipates further awards of Powerwave® well stimulation packages throughout fiscal 2022.