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GPE

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Share Name Share Symbol Market Type
TSXV:GPE TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Great Prairie Energy Services Announces 2013 Year End Results

09/04/2014 12:33am

Marketwired Canada


NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S. 

Great Prairie Energy Services Inc. (TSX VENTURE:GPE) ("Great Prairie" or the
"Company") is pleased to announce its financial results for the three months and
year-ended December 31, 2013. A full copy of our 2013 Financial Statements and
MD&A are available on Great Prairie's website at www.gpeservices.ca and under
Great Prairie's profile on SEDAR at www.sedar.com.


During the last quarter of 2013, Great Prairie completed its qualifying
transaction with the acquisition of Good to Go Rentals Ltd. and Neigum Hot
Oilers (1992) Ltd. (collectively, "Good to Go"), oilfield rental and general
oilfield hauling companies based in Kindersley, Saskatchewan. The Good to Go
acquisition provided Great Prairie with high quality services companies with a
strong record of profitable growth in the Viking oil play area. Great Prairie's
2013 year end results only include two months of operating results of Good to
Go, as the Good to Go acquisition was completed at the end of October 2013. 


Subsequent to the Company's year-end, on March 11, 2014, Great Prairie acquired
Green Dawg Inc. ("Green Dawg"), an automated catwalk rental company, for
$3,800,000, subject to Green Dawg meeting certain performance targets over the
12 month period following the completion of its acquisition by the Company. At
closing of the Green Dawg acquisition, the Company paid $2,750,000 in cash to
the vendors. The remainder of the purchase price, of up to $1,050,000, will be
paid in cash over the 12 month period following closing if the performance
targets are met by Green Dawg. Green Dawg's high margin business provides
geographic diversification to Great Prairie's operations with an opportunity to
immediately deploy additional capital to grow Green Dawg's operations.


Management feels that Great Prairie's financial status as at December 31, 2013
is strong and it positions the Company well for future growth, both organically
and through further acquisitions. 


About Great Prairie Energy Services Inc.

Great Prairie Energy Services Inc. is a Canadian energy services company focused
on servicing oil and gas activity in Saskatchewan and Alberta. Great Prairie
provides general oilfield hauling and rentals out of Kindersley, Saskatchewan
through its operating entities Good to Go Oilfield Rentals and Trucking and
provides automated catwalk rentals through its operating entity Green Dawg in
the Lloydminster region straddling Alberta and Saskatchewan. 


Cautionary Note Regarding Forward-Looking Statements 

This news release contains forward-looking statements relating to future growth
and planned capital expenditures of Great Prairie. Readers are cautioned not to
place undue reliance on forward-looking statements, as there can be no assurance
that the plans, intentions or expectations upon which they are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known
and unknown risks and uncertainties, both general and specific, that contribute
to the possibility that the predictions, forecasts, projections and other
forward-looking statements will not occur, which may cause actual performance
and results in future periods to differ materially from any estimates or
projections of future performance or results expressed or implied by such
forward-looking statements. These assumptions, risks and uncertainties include,
among other things: the risk that Good to Go or Green Dawg may not be able to
retain key employees to continue to maintain its operations, Great Prairie's
ability to complete future financings, state of the economy in general and
capital markets in particular and investor interest in the business and future
prospects of Great Prairie.


The forward-looking statements contained in this press release are made as of
the date of this press release. Except as required by law, Great Prairie
disclaim any intention and assume no obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, except as required by applicable securities law.
Additionally, Great Prairie undertake no obligation to comment on the
expectations of, or statements made, by third parties in respect of the matters
discussed above.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Great Prairie Energy Services Inc.
Sid Dutchak
President and CEO
403.630.2157
sdutchak@gpeservices.ca


Great Prairie Energy Services Inc.
Alex Jackson
CFO
403.930.7191
ajackson@gpeservices.ca
www.gpeservices.ca

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