ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

NWE New West Energy Services Inc

0.01
0.00 (0.00%)
05 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
New West Energy Services Inc TSXV:NWE 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% 0.01 0.005 0.01 0 01:00:00

New West Energy Services Inc. Announces Its Second Quarter Results

28/12/2012 12:09am

Marketwired Canada


New West Energy Services Inc. (TSX VENTURE:NWE)  (the "Corporation") is pleased
to announce the results for the Corporation for its second quarter ended October
31, 2012.


Revenue from continuing operations for the six month period totaled $8,218,937.
Net income from continuing operations for the six month period totaled
$1,284,161. The comparative numbers from continuing operations for the six month
period ended October 31, 2011 were $7,511,285 and $746,453 respectively. The
increase in net income over the previous period is largely due to the
recognition of a non-cash item of deferred tax recovery in the amount of
$697,188.


On August 24, 2012, the Corporation completed the acquisition of the operating
assets of Porterco Welding Ltd. for an aggregate purchase price of $1.4 million.
The new subsidiary, under the name Porterco Oilfield Services Inc. ("Porterco"),
operates a fleet of trucks and trailers for hauling contaminated drill cuttings
as well as providing equipment fabrication and rental services from its base in
Slave Lake, Alberta. For the nine week period ending October 31, 2012, Porterco
had revenues of $941,497 and net income of $153,244. Porterco has recently added
productive capacity related to the truck and trailer fleet and will continue to
expand its equipment, trucks and service areas.


The Corporation continues to look at new expansion and acquisition opportunities
in the environmental and oilfield services area.


Additional information about the Corporation is available on its website at
www.newwestenergyservices.com or under its profile on SEDAR at www.sedar.com.


About New West Energy Services Inc. 

The Corporation operates in the oilfield service industry in Canada through two
wholly owned subsidiaries - BearStone Environmental Solutions Inc. and Porterco
Oilfield Services Inc. BearStone provides environmental services to the upstream
oil and gas industry and also operates a fleet of specialized vacuum and water
trucks. Porterco operates a fleet of trucks and trailers for hauling oil
contaminated drill cuttings as well as providing equipment rental and custom
fabrication services.


FOR FURTHER INFORMATION PLEASE CONTACT: 
New West Energy Services Inc.
Gerry E. Kerkhoff
President & Chief Executive Officer
403.984.9798 or 1.888.977.2327 (BEAR)
403.984.9799 (FAX)
gkerkhoff@bearstoneenviro.com
www.newwestenergyservices.com

1 Year New West Energy Services Chart

1 Year New West Energy Services Chart

1 Month New West Energy Services Chart

1 Month New West Energy Services Chart

Your Recent History

Delayed Upgrade Clock