Destiny Resource Services Corp.
TSX : DSC

Destiny Resource Services Corp.

January 22, 2007 16:55 ET

Destiny Resource Services Corp. Announces Preliminary Q4 '06 Results, Management Promotions

CALGARY, ALBERTA--(CCNMatthews - Jan. 22, 2007) - Destiny Resource Services Corp. (TSX:DSC) announced today preliminary, unaudited results for Q4'06, being revenue of $22.3 million (compared to $11.8 million for Q4'05), EBITDA of $3.6 million (compared to $2.1 million for Q4'05) and net earnings of $2.3 million (compared to $1.8 million for Q4'05). Results for 2006 will be released following completion of the audit and approval by the Board of Directors at a meeting scheduled for March 5, 2007.

"We had a strong fourth quarter" said Bruce Libin, Executive Chairman and Chief Executive Officer. "Our intent in releasing numbers today is to give our shareholders an early look at the overall success of 2006.

"This also gives us the opportunity to announce 4 very significant promotions within our management team. Effective February 1, 2007:

Murray Leier will be Vice-President, Clearing. Murray has led Destiny Resources, our line-clearing division, as General Manager for the 2 years he has been with Destiny. Destiny is recognizing his contributions to our management team and his respect in the industry.

John Bjorklund will be General Manager, Clearing. John has been with Destiny for 19 years, the last several as Operations Manager of Destiny Resources. John is located in Grande Prairie, where he and Brent Chalmers are Destiny's senior management.

Brent Chalmers will be General Manager, Drilling. Brent has 20 years in the shot-hole drilling business, including the last 5 as Operations Manager of our Double R Drilling business.

Mark Strickland will be General Manager, Technical Operations. An engineer, Mark has 10 years in the survey business. For the last 2 years he has been Operations Manager for Wolf Survey & Mapping and for the last year he has been leading the integration of the operations of our technical divisions Wolf Canada, Wolf US and Kodiak Navigation & Positioning.

"We are enthusiastic about these promotions. Destiny has an exceptionally strong Executive Management Team and Operations Team and we are delighted to align our structure going forward with the strengths and skill sets of our talented people."

Destiny provides Seismic Front-End Services comprised of seismic survey and mapping (Wolf Survey & Mapping), seismic line clearing (Destiny Resources) and shot-hole drilling (Double R Drilling) to energy explorers and producers and to seismic acquisition companies. Destiny also provides navigation, positioning and asset management technology to improve the productivity and safety of seismic operations through its Kodiak Nav Solutions division and locating services to a variety of industries through its Advanced Locating Service division.

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