GREY:EGDFF - Post by User
Post by
retep6on Aug 21, 2012 11:45am
359 Views
Post# 20242001
news
news Mr. Frederick Davidson reports
ENERGOLD DRILLING ANNOUNCES MULTI-YEAR ENERGY DRILLING CONTRACTS
Energold Drilling Corp. has recently been awarded several long-term service contracts (up to five years) for the company's energy drilling division, Bertram Drilling Corp. These contracts are with major oil and gas corporations pursuing long-term unconventional and conventional hydrocarbon exploration in Western Canada, including oil sands coring as well as seismic drilling activities.
Management estimates the combined value of these contracts alone to be worth at least $45-million annually, starting in 2013, and anticipates substantial growth as the company is actively pursuing work with potential and existing customers heading into the coming winter drilling season. Management further expects the energy drilling division to reach $45-million to $55-million in 2012, a significant portion of Energold's consolidated revenue for the year. Management's energy division growth target for 2013 is 25 per cent to 50 per cent over 2012.