Hunting PLC
23 April 2008
23 April 2008
Hunting PLC
AGM Interim Management Statement
Hunting PLC ('Hunting'), the international energy services company, will be
holding its AGM at 10.30 am today and is publishing its first Interim Management
Statement for the period from 1 January 2008 to 23 April 2008, as required by
the UK Listing Authority's Disclosure and Transparency Rules. Richard Hunting,
Chairman, will be making the following statement to shareholders.
'Rising energy prices have escalated the efforts of global oil and gas companies
to find new developments and replace declining production. The scope of these
efforts continues to provide excellent opportunities for new business and
support the recently added capacity within the Group.
Gibson Energy continues to perform well in the robust Canadian oil and gas
industry. Higher volumes and a late 2007 trucking acquisition will provide
additional growth in Gibson's Truck Transportation division. Marketing has seen
a reversal of the poor Q4 trading environment. Its Canwest division has seen
immediate results from the three prior year acquisitions. Moose Jaw Refinery, as
usual, starts slowly in the winter months with improved activity expected in the
remainder of the year. High margins are being sustained in Gibson's Terminal and
Pipeline facilities.
Hunting Energy is benefiting from the global efforts underway in deep water
development. New Middle East contracts, new manufacturing capacity along the
Gulf coast in the US and recently tested and approved patented products will
extend this division's growth potential this year and beyond. Its Exploration
and Production division began the year with successful completions and is
enjoying the higher oil and gas prices.
Trading is in line with the Board's expectations. We have uniquely positioned
ourselves to capitalise on the growing trends within the global oil and gas
industry. Combined with our organic growth capabilities and disciplined
financial execution, we view the future with confidence'.
For further information, please contact:
Hunting PLC
Dennis Proctor, Chief Executive Tel: 020 7321 0123
Peter Rose
Hogarth Partnership Limited Tel: 020 7357 9477
Andrew Jaques / Anthony Arthur
Notes to Editors:
Hunting PLC is an international energy services company providing support
solutions to the worlds leading oil and gas companies.
This information is provided by RNS
The company news service from the London Stock Exchange
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