Cautionary Statement Regarding Forward-Looking Information and Statements
This document contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "could", "should", "can", "believe", "plans", "intends", "strategy" and similar expressions are intended to identify forward-looking information or statements.
The forward-looking information and statements included in this document are not guarantees of future performance and should not be unduly relied upon. These statements and information 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 and information. The Corporation believes the expectations reflected in such forward-looking statements and information are reasonable, but no assurance can be given that these expectations will prove to be correct. Such forward-looking statements and information included in this document should not be unduly relied upon. These forward-looking statements and information speak only as of the date of this document.
In particular, forward-looking information and statements contained in this document include references to, without limitation, growth in PHX Energy's international operations and this segment representing a greater percentage of revenue; the growth of the Corporation's RWD fleet, projected capital expenditure budget and how this budget will be funded; the ability to reduce performance drilling motor and MWD repair costs and improve profitability; improved profitability in South America as a result of integrating the Peruvian and Colombian management teams; the expected tax rate in Canada; the potential opportunities for expansion in key plays in Canada; the ability to implement and grow initiatives, such as RADD and Insight drilling optimization operations which are believed to have a positive impact on Canadian margins; the expansion of the motor rental division in the US; future US growth; efficiencies being created from hiring local personnel in Albania; the opportunity to expand in Eastern Europe; increased activity in Russia as a result of new work awarded and invitations to tender having been submitted; anticipated future growth in Colombia and Peru; synergies and opportunities for growth as a result of the relationships established with RMS Systems Inc.; and the commencement of operations for RigManager International Inc. in Russia.
The above references are stated under the headings: "Operating Costs and Expenses", "Segmented Information", "Cash Requirements for Capital Expenditures", and "Investments". Furthermore, all information contained within the Outlook section of this document contains forward-looking statements.
In addition to other material factors, expectations and assumptions which may be identified in this document and other continuous disclosure documents of the Corporation referenced herein, assumptions have been made in respect of such forward-looking statements and information regarding, among other things: the Corporation will continue to conduct its operations in a manner consistent with past operations; the general continuance of current industry conditions; anticipated financial performance; business prospects; impact of competition; strategies; the general stability of the economic and political environment in which the Corporation operates; exchange and interest rates; tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; and the adequacy of cash flow, debt and ability to obtain financing on acceptable terms to fund its planned expenditures, which are subject to change based on commodity prices, market conditions, and future oil and natural gas prices; and potential timing delays. Although Management considers these material factors, expectations and assumptions to be reasonable based on information currently available to it, no assurance can be given that they will prove to be correct.
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