EnQuest Energy Services Corp. Releases First Quarter Financial Statements
02 June 2009 - 9:02PM
Marketwired Canada
ENQUEST ENERGY SERVICES CORP. ("EnQuest" or the "Company") (TSX VENTURE:ENQ) -
EnQuest announces the filing of its unaudited interim consolidated financial
statements and management discussion and analysis ("MD&A") for the three months
ended March 31, 2009 today. All figures are stated in USDs. Additional
information relating to the Company is available on SEDAR at www.sedar.com.
EnQuest's CEO David Murray stated: "Uncertainty in the commodity and credit
markets reflected themselves in the company's first quarter results. However,
recent stability in commodity prices and an aggressive cost reduction program
started in the first quarter and continued into the second quarter are expected
to restore profitability in the Company."
The conditions required to revoke cease trade orders previously issued by each
of the Alberta, British Columbia and Ontario Securities Commissions, as well as
a trading halt by the TSX Venture Exchange, have now been satisfied such that
the company expects its securities to be trading by June 3, 2009.
EnQuest provides energy services throughout North America in the following
primary business segments: transportation services, rig moving, crane services,
specialized heavy hauling, oilfield equipment rentals, retailer of new and
refurbished Oil Country Tubular Goods, and pipe storage.
EnQuest provides services from Alaska to the Gulf of Mexico, with strategic
locations in Alberta, Montana, Colorado, New Mexico, California, Texas,
Arkansas, and Wyoming.
Except for statements of historical fact relating to the Company, certain
information contained herein constitutes forward-looking statements.
Forward-looking statements are based on the opinions and estimates of management
at the date the statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to
differ materially from those projected in the forward-looking statements. The
Company undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change. The reader is
cautioned not to place undue reliance on forward-looking statements.
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