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.