Trading Symbol: "EGD: TSX.V"
VANCOUVER, March 21, 2018 /CNW/ - Energold Drilling
Corp. (EGD: TSX.V) ("Energold" or "the Company" or "Energold
Group"), a leading worldwide drilling operator and
manufacturer, is pleased to announced that it has recently been
awarded more than $10 million in new
green drilling contracts in the United
States.
Following up on the Company's announcement earlier this month,
the Company is expecting higher than budgeted amounts of drilling
work in certain markets throughout 2018. The recovery in the
mineral, oil and gas and green drilling markets has helped
contribute to a diverse revenue base with higher equipment
utilization and improving margins. Over the last several years, the
Company has sought to increase utilization of certain equipment
that had been more seasonal in nature. In doing so, management has
built a "second season" for its winter-focused oil and gas rigs in
the green drilling market.
"The green drilling space is something our group has worked
on for some time. Typically, these projects involve best-in-class
partners in the infrastructure and government procurement arenas.
As well, Energold now has opportunities for expanded projects and
potential for longer-term green energy contracts moving forward. We
are especially pleased to offer these drilling solutions to our
clients in the United States with
new technologies and our highly skilled labour force." said
Fred Davidson, President & CEO,
Energold Drilling Corp.
About Energold Drilling Corp.
Energold Drilling Corp. is a leading global specialty drilling
company that services the mining, energy, infrastructure,
geothermal, water and manufacturing sectors in 25 countries.
Specializing in a socially and environmentally sensitive approach
to drilling, Energold provides a comprehensive range of drilling
services from early stage exploration to onsite operations as well
as manufacturing.
On behalf of the Directors of Energold Drilling Corp.,
"Frederick W. Davidson"
President, CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking and Cautionary Statements
Some statements in this news release contain forward-looking
information. These statements include, but are not limited to,
statements with respect to proposed activities, work programs and
future expenditures. These statements address future events and
conditions and, as such, involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
the statements. Such factors include, among others, the effects of
general economic conditions, a reduction in the demand for the
Company's drilling services, the price of commodities, changing
foreign exchange rates, actions by government authorities, the
failure to find economically viable acquisition targets, title
matters, environmental matters, reliance on key personnel, the
ability for operational and other reasons to complete proposed
activities and work programs, the need for additional financing and
the timing and amount of expenditures. Energold Drilling Corp. does
not assume the obligation to update any forward-looking
statement.
SOURCE Energold Drilling Group