CALGARY, Nov. 8, 2010 /CNW/ - Secure Energy Services Inc. ("Secure" or the "Corporation") (TSX:SES) announced the receipt of regulatory approval for construction of a treating and disposal facility in the Drayton Valley market area.
"Our entry into the Drayton Valley market places us strategically for additional exposure to oil and liquids rich natural gas drilling." said Rene Amirault, President & CEO. Secure's Drayton Valley Facility is located in the heart of the Pembina Cardium light oil play where a resurgence of industry activity is underway through horizontal drilling and multi-stage frac technology. The Pembina field was discovered in 1953 and is the largest conventional oil field in Canada. The facility is ideally located to provide direct highway access for customers delivering product as well as a tie-in for crude oil shipping. A disposal well has previously been acquired and successfully recompleted adjacent to the facility site.
Construction of the Drayton Valley facility will commence immediately and is anticipated to be operational in the first part of the third quarter 2011.
Certain statements contained in this document constitute "forward-looking statements" within the meaning of securities laws, including the "safe harbor" provisions of Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", and similar expressions, as they relate to Secure, or its management, are intended to identify forward-looking statements. Such statements reflect the current views of Secure with respect to future events and operating performance and speak only as of the date of this document. In particular, this document contains forward-looking statements pertaining to: general market conditions, the oil and natural gas industry, commodity prices for oil and natural gas, debt service, future capital needs, access to capital, acquisition strategy and income tax considerations.
Forward-looking information concerning expected operating and economic conditions are based upon prior year results as well as assumptions that increases in market activity and growth will be consistent with industry activity and growth levels in similar phases of previous economic cycles. Forward-looking information concerning the availability of funding for future operations is based upon assumptions that sources of funding which the Corporation has relied upon in the past will continue to be available to the Corporation on terms favorable to the Corporation and that future economic and operating conditions will not limit the Corporation's access to debt and equity markets. Forward-looking information concerning the relative future competitive position of the Corporation is based upon assumptions that economic and operating conditions, including commodity prices, crude oil and natural gas storage levels, interest rates, the regulatory framework regarding oil and natural gas royalties, environmental matters, the ability of the Corporation to successfully market its services and drilling and production activity in the Western Canadian Sedimentary Basin, will lead to sufficient demand for the Corporation's services, that the current business environment will remain substantially unchanged, and that, present and anticipated programs and expansion plans of other organizations operating in the energy service industry will result in increased demand for the Corporation's services. Forward-looking information concerning the nature and timing of growth is based on past factors affecting the growth of the Corporation, past sources of growth and expectations relating to future economic and operating conditions. Forward-looking information in respect of the costs anticipated to be associated with the acquisition and maintenance of equipment and property are based upon assumptions that future acquisition and maintenance cost will not significantly increase from past acquisition and maintenance costs.
Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in these forward-looking statements, including but not limited to those factors referred to herein under "Risk Factors" and under the heading "Risk Factors" in the Corporation's AIF for the year ended December 31, 2009.
Although forward-looking statements contained in this document are based upon what the Corporation believes are reasonable assumptions, the Corporation cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements in this document are expressly qualified by this cautionary statement. Unless otherwise required by law, Secure does not intend, or assume any obligation, to update these forward-looking statements.