Pason Systems Inc. Increases Semi-Annual Dividend

    




 CALGARY, May 1, 2012 /CNW/ - Pason Systems Inc. . The Board of  Directors of Pason Systems Inc. (with Mr. Jim Hill, the significant  shareholder through J.D. Hill Investments Ltd., abstaining from voting)  today declared an increase in its semi-annual dividend to twenty-two  cents (C$0.22) from twenty cents (C$0.20) per share on the Company's  common shares. The dividend will be paid on July 4, 2012 to  shareholders of record at the close of business on June 15, 2012. 

 Pursuant to the Canadian Income Tax Act, dividends paid by the Company  to Canadian residents are considered to be "eligible" dividends. 

 Pason Systems Inc.  Pason Systems Inc. is a leading provider of instrumentation systems to  land-based and offshore drilling rigs worldwide. The company's rental  solutions, which include data acquisition, wellsite reporting, remote  communications, and web-based information management, maximize rig  uptime, improve work efficiency, and minimize operating costs. Pason's  common shares trade on the Toronto Stock Exchange under the symbol PSI. 

 Certain information regarding the Company contained herein may  constitute forward-looking information under applicable securities  law.  The words "anticipate", "expect", "believe", "may", "should",  "will", "estimate", "project", "outlook", "forecast" or other similar  words are used to identify such forward-looking information and  statements.  Forward-looking statements in this document may include  statements, express or implied regarding the anticipated business  prospects and financial performance of Pason; expectations or  projections about future strategies and goals for growth and expansion;  expected and future cash flows and revenues; and expected impact of  future commitments.  These forward-looking statements are based upon  various underlying factors and assumptions, including the state of the  economy and the oil and gas exploration and production business, in  particular; the Company's business prospects and opportunities; and  estimates of the financial and operational performance of Pason. 

 Forward-looking information and statements are subject to known or  unknown risks and uncertainties that may cause actual results to differ  materially from those anticipated or implied in the forward-looking  information and statements.  Risk factors that could cause actual  results or events to differ materially from current expectations  include, among others, the ability of Pason to successfully implement  its strategic initiatives and whether such strategic initiatives will  yield the expected benefits, the operating performance of Pason's  assets and businesses, the price of energy commodities, competitive  factors in the energy industry, changes in laws and regulations  affecting Pason's businesses, technological developments, and general  economic conditions. 

 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 placed will occur.  Such forward  looking statements, although considered reasonable by management as of  the date hereof, may prove to be incorrect and actual results may  differ materially from those anticipated.  Forward-looking statements  contained in this press release are expressly qualified by this  cautionary statement. 

 Additional information on risks and uncertainties and other factors that  could affect Pason's operations or financial results are included in  Pason's reports on file with the Canadian securities regulatory  authorities and may be accessed through the SEDAR website (www.sedar.com or through Pason's website www.pason.com).  Furthermore, any forward looking statements contained in this news  release are made as of the date of this news release, and Pason does  not undertake any obligation to update publicly or to revise any of the  included forward-looking statements, whether as a result of new  information, future events or otherwise, except as expressly required  by securities law. 

Pason Systems Inc.


CONTACT:  For more information about Pason Systems Inc., visit thecompany'swebsite at www.pason.com or contact:Marcel Kessler President and [e-mail] ElliottChief Financial [e-mail] 


    

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