High Arctic Energy Services Inc T.HWO

New Press Release - High Arctic to Announce 2023 Fourth Quarter and Full Year Results

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWCALGARY, Alberta, April 03, 2024 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or...read article.

[Stonksonlyup90]

Interesting... Earnings after close on a Friday and then Earnings Call not until after close Monday (would have expected Monday AM)... something cookin'? Could explain this radio silence and late filing of results, they had always been timely in the  past.

[colourama]

From experience with these guys, just when you think something might be cooking, the actual explanation is always just that... they were late and not much else. Hopefully I am wrong this time and they actually have been working on something.

[Resilience2]

I was promised by management there will be an update on the reorganization and capital return. The weekend likely in between to digest that update. R. 

[AVALONSHARK]

My best guess is a further write down of PNG assets hence the delay in audit. I am expecting them to announce a re-org with severely undervalued PNG business and a partial ROC. After mid-2024 none of the rigs will be active and no timeline of Papua LNG FID or any additional work.  I think they will steal the PNG business during this slow time. I believe privatization initiative is the

[colourama]

I think you are right about the write down, the market anyway has already valued PNG at 0. They made an expensive hire several months ago in Chris Fraser, but he doesn't seem to have achieved anything at the current moment.

[impega]

I am not convinced the heli rigs have no value. Who is going to build roads to remote locations in the jungle and mountainous terrain? Is it really feasible? PNG govt. can't properly maintain the existing infrastructure let alone build new roads. Can't see oil companies footing the bill. And there is also the disruption to the environment building new roads.Heli rigs might still be the

[longrun86]

I am not sure what will happen with the rig contracts. Seemingly in the years to come there is more than just PNG LNG where the rigs could be active.  IAS 36 requires companies to evaluate impairment by comparing the carrying value to the recoverable amount. The recoverable amount is determine either through (a) the value in use as measured by associated cash flow; or (b) fair value less

[Stonksonlyup90]

If we've learned anything, don't wait around for the report and news release.. it will likely be submitted at 11:59pm EST

[longrun86]

Coincidentally, the Sedar website says that it will be down from 11pm EST on April 5th to April 7th at 07:00 EST. If they don't put it directly on their website, everyone will need to wait until Sunday!

[colourama]

11:59 tonight? No no, "after markets close on Friday" doesn't actually mean "on Friday", just "after markets close". We have been working so hard writing assets down it is just impossible for us to be on time with our filings or keep to any of our times made in announcements ( /s just to be clear)

[Stonksonlyup90]

You're focusing on the wrong part of the sentence I think... it begins with: High Arctic "intends to".. that is the crucial identifier. We all know this management team has had plenty of intentions, but 0 actual execution!!

[lngisforme]

A happier bunch of clowns would be hard to find.  I'll pay you to be inept, inadequate, incompetent, meh hiw many more I"s can we come up with?

[colourama]

I'm not able to join the conference call, but I'd really like a question to be asked to them how they feel their credibility stands with the following no seemingly consistent behaviour: 1. "High Arctic Energy Services Inc. (TSX: HWO) "High Arctic" or the "Corporation” intends to release its 2022 fourth quarter results on Monday, March 27, 2023 after markets close"

[Northforce13]

Could be problems with PNG accounting in PNG, slowing everything down.  I don't read anything into the delays, not a big negative in my eyes.  Accounting issues can be like that, if the source is such. 

[colourama]

I'm not hugely bothered with delays in financial releases, except that I feel if you put out public statements for release dates, you should not consistently miss the announced dates. Especially when said announcement is made within 2 days of the release date. You would think that they would have some handle on how prepared the results are at that point.  Anyway my 2 cents. I'm sure

[impega]

Very poor form missing the release date just announced 2 days ago. That is what is bothersome.

[Stonksonlyup90]

I would love to know at what point does 'releasing the financials after market close on April 5th", become.... 'releasing the financials BEFORE MARKET OPEN on April 8th"??????

[Northforce13]

Sedar was down and they probably don't work on Sunday -)