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Hyduke Energy Services Inc. Announces Refiling of MD&A and CEO/CFO Certifications
Friday, July 31, 2009 6:38 PM


TSX Symbol: HYD

EDMONTON, July 31 /CNW/ - Hyduke Energy Services Inc. (HYD - TSX), announced filing of revised Annual MD&A for the year ended December 31, 2008, revised Interim MD&A for the period ended March 31, 2009, Certification of Refiled Annual Filings (Form 52-109F1R) and Certification of Refiled Interim Filings (Form 52-109F2R).

Upon further review of National Instrument 52-109 (issued December 15, 2008), Hyduke has revised its disclosures on Disclosure Controls and Procedures and Internal Controls Over Financial Reporting in its Annual MD&A for the year ended December 31, 2008 and its Interim MD&A for the period ended March 31, 2009.

The revised disclosures clarify that, with no exceptions, the Disclosure Controls and Procedures were effective to provide reasonable assurance that material information relating to the Company and its consolidated subsidiaries was made known to them by others within those entities to allow timely decisions regarding required disclosure.

Additionally, the revised disclosures clarify that, with no exceptions, as of the period end dates, management concluded that the internal controls over financial reporting were effective to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP.

In connection with the above refiled annual and interim MD&A's, Hyduke has filed the Certification of Refiled Annual Filings (Form 52-109F1R) and Certification of Refiled Interim Filings (Form 52-109F2R).

Management feels that these revisions to the MD&A disclosures more accurately comply with the guidance and requirements contained in National Instrument 52-109.

About Hyduke

Hyduke is an integrated oilfield services company with over thirty years experience in the manufacture, repair and distribution of oilfield equipment and supplies in Canada and worldwide. Hyduke specializes in providing customized, integrated solutions to the drilling and well service industries including:

-   Turn-Key Equipment - drilling rig and service rig packages including
    in-house design, engineering and drafting, major component
    procurement and overall project management;
-   Life Cycle Management - inspection, certification, service, repair
    and supply services throughout the operating life of the drilling or
    well service rig; and
-   Single Source Supply - providing new capital equipment, repair and
    maintenance on existing capital equipment and supply of operating
    consumables.

Hyduke is headquartered in Nisku, Alberta and has facilities in Edmonton, Calgary, Nisku, Leduc, Red Deer and Lloydminster, Alberta.

Hyduke operates in three operating segments. The Drilling Equipment segment includes manufacture and repair of land-based drilling rigs and drilling rig structures, supply and repair of drilling rig equipment, procurement and distribution of drilling supplies, supply and service of pneumatic controls, engineering and design of drilling rigs and inspection and certification of drilling rig equipment. The Well Service Equipment segment includes manufacture and repair of well service rigs, mobile and skid mounted pump units and other well service equipment, procurement and distribution of well servicing supplies, supply and service of pneumatic controls, engineering and design of well service rigs and inspection and certification of well service equipment. The Other Oilfield Services segment includes manufacture and distribution of cased hole and overburden drill bits and drilling systems, custom and production machining services, industrial sandblasting, painting and collision repair and distribution and repair of truck-mounted equipment including cranes, winches and dump boxes.

The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this News Release.
(Source: CNW )


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