Hanwei Energy Services Reports First Quarter Fiscal 2016 Financial and Operational Results
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/04/15 -- Hanwei Energy Services Corp. (TSX: HE) ("Hanwei" or the "Company"), today reported its financial results for the three months ended June 30, 2015. All amounts are in Canadian Dollars unless otherwise noted.
The Company has two reportable segments for its continuing operations: its FRP pipe manufacturing and its oil and gas production. The pipe segment produces and sells fiberglass reinforced plastic ("FRP") pipe for the oil and gas industry and other infrastructure applications. The oil and gas segment is engaged in the exploration and production of oil and natural gas in Western Canada.
For the three months ended June 30, 2015:
Update on FRP Pipe Sales in Canada
Hanwei has approximately 34,000 metres of its high pressure line pipe operational in Canada that was installed over the last eighteen months.
Update on Oil and Gas Activities in Canada
During the three months ended June 30, 2015, the Company had four gross wells producing. From these:
Hanwei will host a conference call to discuss its operational and financial results for the first quarter ended June 30, 2015. Graham Kwan, Executive Vice President and Rick Huang, Chief Financial Officer of Hanwei will host the call. Management invites analysts and investors to participate on the conference call:
Date: Thursday, August 6, 2015
Time: 1:00 p.m., Eastern Time (10:00 am Pacific Time)
Dial in number: 1-888-329-8893 or 1-719-325-2144
A replay of the conference call will be available on the Company''s website .
About Hanwei Energy Services Corp.
Hanwei Energy Services Corp.''s principal business operations are in two complementary key segments of the oil and gas industry as both an equipment supplier to the industry (as a leading manufacturer of high pressure, fiberglass reinforced plastic ("FRP") pipe products and associated technologies serving major energy customers in the global energy market) and as an operator of its producing oil and gas mineral rights at its Leduc Lands in Alberta.
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING INFORMATION AND NON-GAAP MEASURES
Certain information in this press release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions a description of which is set out in the risk factors section of the Company''s Annual Information Form dated June 17, 2015 and Management Discussion and Analysis for the year ended March 31, 2015 both of which are filed with Canadian securities regulators and available on SEDAR at . The forward-looking information in this press release describes the Company''s expectations as of the date of this press release.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE PRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, THE COMPANY DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME, EXCEPT AS REQUIRED BY APPLICABLE SECURITIES LEGISLATION.
Contacts:
Hanwei Energy Services Corp.
Graham Kwan
Executive VP, Strategic Development and Corporate Affairs
604-685-2239
Hanwei Energy Services Corp.
Yucai (Rick) Huang
604-685-2239
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Datum: 04.08.2015 - 17:32 Uhr
Sprache: Deutsch
News-ID 1376923
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Oil & Gas
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