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Hyduke Energy Services Inc.
609 - 21 Avenue
Nisku, Alberta, Canada
T9E 7X9
Telephone: (780) 955-0355
Facsimile: (780) 955-0368
TSX Symbol: HYD
Website: www.hyduke.com |
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NEWS RELEASE
June 23, 2008 |
Hyduke Energy Services Inc. announces $2,000,000 contract for North Africa
EDMONTON, June 23, 2008 - Hyduke Energy Services Inc. (“Hyduke”) (TSX:HYD) is pleased
to announce that is has been awarded a contract to manufacture a workover rig for the North
African market. The contract, valued at approximately $2,000,000, requires delivery of a new
Hyduke Desert King 650 self-propelled workover rig by late 2008. The Hyduke Desert King
650 is a proprietary design developed in 2006 specifically for the North African desert
environment.
Gordon McCormack, President and Chief Executive Officer, commented, “We are extremely
pleased with winning this contract as it demonstrates Hyduke’s continuing success designing
special-purpose equipment as well as achieving increased market penetration into the North
African oilfield industry.”
Gordon R. McCormack Veronica Dutchak
President and Chief Executive Officer Chief Financial Officer
(780) 955-0355 (780) 955-0355
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this News Release.
Forward Looking Statements
This report contains certain forward-looking statements relating, but not limited to, operations, anticipated financial performance, business
prospects and strategies of Hyduke. Forward-looking information typically contains statements with words such as “anticipate”, “believe”,
“estimate”, “expect”, “plan”, “intend” or similar words suggesting future outcomes or outlooks on, without limitation, estimates of business
activity, supply and demand for the Company’s products, the estimated amounts and timing of capital expenditures, anticipated future debt levels,
or other expectations, beliefs, plans, objectives, assumptions or statements about future events or performance. Readers are cautioned not to
place undue reliance on forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks
and uncertainties both general and specific that may cause actual future results to differ materially from those contemplated and contribute to the
possibility that the predictions, forecasts, projections and other forward-looking statements will not occur. These factors may affect anticipated
earnings or assets and include, but are not limited to: industry activity levels, market liquidity, customer credit risk, competition, oil and gas
prices, product liability, fixed price contracts, development of new products, uninsured and underinsured losses, access to additional financing,
source of supply of raw material and third party components, availability of key personnel, agreements and contracts, government regulations,
foreign exchange exposure, interest rate risk, international scope of operations, environmental health and safety regulations and Hyduke’s
anticipation of and success in managing the risks implied by the foregoing. The Company cautions that the foregoing list of important factors is
not exhaustive. Hyduke undertakes no obligation to update publicly or otherwise revise any forward-looking information, whether as a result of
new information, future events or otherwise, except as required pursuant to applicable securities legislation.
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