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Bri-Chem Corp T.BRY

Alternate Symbol(s):  BRYFF

Bri-Chem Corp. is a Canada-based independent wholesale supplier of drilling fluids and chemicals for the oil and gas industry operating from owned or leased warehouses located throughout Canada and the United States. It is engaged in the distribution and blending of oilfield drilling, completion, stimulation, and production of chemical fluids. The Company’s segments include Fluids Distribution Canada, Fluids Distribution USA, Fluids Blending & Packaging Canada, Fluids Blending & Packaging USA, and Other. Its business activity is to provide 24/7 coverage of oilfield chemicals in a variety of weights and clays, loss circulation materials and oil mud products to mud engineering companies who sell directly to drilling firms engaged by the oil and gas companies. Its subsidiaries include Bri-Chem Supply Ltd., Sodium Solutions Inc., Solution Blend Service Ltd., and Bri-Corp USA, Inc. Sodium Solutions Inc. is a fully integrated chemical supplier, toll blender, and packager.


TSX:BRY - Post by User

Bullboard Posts
Post by Gonzo2on Nov 12, 2014 11:13pm
158 Views
Post# 23123089

Re: Impairment charge and proceeds of sale of Bristeel

Re: Impairment charge and proceeds of sale of BristeelAccording to the MD&A, the proceeds of the sale of Bristeel were used to pay down the amount of credit they were using from their borrowing facility, not wiping out the actual impairment itself which is only $370,000. Yet the impairment results in a very low net earnings for the three quarters of 2014, not the actual earniings from continued operations. This should reflect a much higher net earnings and a much higher share price as a result. Am I correct, or am I off base with this assessment? Comments ladies and gentlemen, please.
Bullboard Posts