Disclaimer
Calmena Energy Services Inc. ("Calmena" or the "Corporation") is a public company trading on the Toronto Stock Exchange under the symbol "CEZ". Calmena's expectations and predictions for the future are discussed in our press releases, presentations, quarterly and annual reports. Such statements, including statements in this website and the documents listed above that relate to matters that are not historical are forward-looking statements within the relevant securities regulations in Canada and elsewhere. Certain forward-looking statements may constitute projections regarding future events or the future financial performance of Calmena. When used in this website, the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward looking statements. The expectations reflected in those forward looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward looking statements included in this website should not be unduly relied upon.
In particular, this website contains forward looking statements pertaining to: the Corporation's future growth; the business strategy of the Corporation; the timing of completion of acquisitions contemplated by the Corporation; the terms of the drilling contracts under which Calmena hires out its drilling rigs; the maturity date of Calmena's credit facilities and its ability to extend these credit facilities; its results of operations; its dividend policy of Calmena; and the Corporation's business prospects and opportunities.
Actual results could differ materially from those anticipated in these forward looking statements as a result of the risk factors set forth below and elsewhere in this website:
- the Corporation's reliance on major customers;
- the volatility of industry conditions in the Corporations operating regions;
- regional competition;
- the Corporation's ability to raise capital and retain access to bank and other financing;
- the Corporation's development risk associated with acquisitions
- failure to complete the acquisitions on the terms proposed or at all;
- failure to satisfy the terms of drilling contracts or agreements respecting acquisitions;
- the Corporation's ability to manage growth;
- the Corporation's ability to attract and retain customers and employees;
- fluctuations in foreign exchange or interest rates and stock market volatility;
- supply and demand for oilfield services relating to the drilling, completion and maintenance of oil and gas wells as well as services related to oilfield equipment rentals and production and ancillary services;
- competition for, among other things, capital and skilled personnel;
- general economic conditions in Canada, Mexico and the United States;
- incorrect assessments of the value of acquisitions;
- fluctuations in the market for oil and natural gas and related products and services;
- liabilities and risks, including environmental liabilities and risks, inherent in oil and natural gas operations;
- political and economic conditions;
- failure of counter parties to perform on contracts;
- demand for the Corporation's services;
- amounts retained by the Corporation for capital expenditures;
- volatility in market prices for oil and natural gas and the effect of this volatility on the demand for oil and gas services generally;
- uncertainties in weather and temperature affecting the duration of the service periods and the activities that can be completed;
- fixed costs in relation to variable revenue streams; and
- the presence of heavy competition in the industry in which the Corporation currently operates; and
- any or all of the factors discussed under "Risk Factors" in the Company's Annual Information Form dated March 23, 2010 as filed on the SEDAR website, including, but not limited to, the risk factors under the headings "Global Financial Crisis", "Foreign Operations", "Credit Risk", "Leverage and Restrictive Covenants", "Equipment and Technology Risks", "Government Regulations", "Conflicts of Interest", "Credit Risk", "Operational Risk, Insurance, Interruption and Casualty Losses", "Dilution", "Dividends" and " Climate Change".
The forward-looking statements in this website are based on certain key expectations and assumptions of Calmena concerning anticipated financial performance, business prospects, strategies, conditions in general economic and financial markets, regulatory developments, competition, exchange rates, applicable royalty rates, tax laws, the sufficiency of budgeted capital expenditures in carrying out planned activities, the availability and cost of labour and services and the ability to obtain financing on acceptable terms, which are subject to change based on commodity prices, market conditions and potential timing delays. Although Calmena's management consider these assumptions to be reasonable based on information currently available, they may prove to be incorrect.
The above summary of assumptions and risks related to forward-looking information in this website is provided in order to provide readers with a more complete perspective on Calmena's future operations and such information may not be appropriate for other purposes. Calmena's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Corporation will derive there from. Readers are cautioned that the foregoing lists of factors are not exhaustive.
Other than the continuous disclosure obligations set forth in National Instrument 51-102 - Continuous Disclosure Obligations, the Corporation undertakes no obligation to publicly update or revise any forward looking statements, except as required pursuant to applicable securities laws. Readers should also carefully consider the matters discussed under the heading "Risk Factors" in the Company's Annual Information Form.
