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GKX Gemini Corp. (delisted)

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Share Name Share Symbol Market Type
Gemini Corp. (delisted) TSXV:GKX 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 -

Gemini Continues Heavy Oil Market Penetration

23/08/2007 5:04pm

Marketwired Canada


Gemini Corporation (TSX VENTURE:GKX) is pleased to announce the signing of a
significant fabrication and construction contract with a major heavy oil
producer valued at approximately $18 million. This project is scheduled to
commence immediately and continue through to April, 2009. Gemini's involvement
in this thermal recovery project encompasses the fabrication of several modules
and the construction of a number of well-pads. 


This project provides further evidence of the Corporation's success in building
its reputation within the heavy oil industry as a preferred fabricator and
constructor for thermal recovery projects. When combined with the other similar
projects announced earlier this year, the Field Services segment backlog now
totals more than $40 million, nearly doubling the value booked last year at this
time. Current business development efforts are focused upon securing these
longer-term projects to provide a more stable base of business to better utilize
existing infrastructure and improve profitability. 


Gemini is focused on selectively expanding its service offering within the heavy
oil sector while maintaining support for existing and new clients in the
conventional oil and gas market. This approach will provide a more balanced
revenue stream when combined with the progress being achieved in downstream
processing and alternative energy. 


"These agreements are important to our long-term success by firmly positioning
Gemini as a supplier of choice to the heavy oil market", said Carl Johnson,
Gemini's President and CEO. "They also position us well to provide follow-on
services as future phases are released on these projects. We intend to continue
aggressively pursuing heavy oil and alternative energy projects to provide
growth, profitability and stability."


About Gemini Corporation

Gemini Corporation offers a wide range of interrelated services including
project management, engineering, fabrication, construction, operations and
maintenance of oil & gas and industrial facilities within Canada and
internationally. The Corporation is a leading provider of engineered solutions
and field services through either stand-alone or integrated, full-service
approaches to a broadening client base in the energy, environmental and
industrial sectors. 


Shares of Gemini trade on the TSX Venture Exchange under the symbol "GKX". For
more information about the Corporation and its services, go to
www.geminicorp.ab.ca. 


Disclaimer

This news release contains forward looking information that represents Gemini's
internal projections, expectations, estimates or beliefs concerning, among other
things, future operating results and various components thereof or Gemini's
future economic performance. All statements other than the statements of
historical fact may be forward-looking statements. In some cases,
forward-looking statements can be identified by terminology such as "may",
"will", "should", "expects", "projects", "plans", "anticipates", and similar
expressions. The projections, estimates and beliefs contained in such
forward-looking statements are based on management's assumptions relating to
Gemini's performance and competition within the sectors in which it competes,
the continuation of the current regulatory and tax regimes in the jurisdictions
in which Gemini operates, and necessarily involve known and unknown risks and
uncertainties, including risks and assumptions relating to client service
demand, field service costs, labour rates, and other factors that may cause
actual performance and financial results in future periods to differ materially
from any projections of future performance or results expressed or implied by
such forward-looking statements. Accordingly, readers are cautioned that events
or circumstances could cause results to differ materially from those predicted
or suggested. The Corporation does not undertake to update any forward-looking
information in this document whether as to new information, future events or
otherwise.


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