Ceiba Energy Services Inc.
TSX VENTURE : CEB

Ceiba Energy Services Inc.

August 26, 2013 10:51 ET

Ceiba Energy Services Announces Record Second Quarter 2013 Results

CALGARY, ALBERTA--(Marketwired - Aug. 26, 2013) -

* NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S. *

Ceiba Energy Services Inc. ("Ceiba Energy" or the "Company") (TSX VENTURE:CEB) a provider of specialized services to the energy sector, is pleased to announce that it has filed its Financial Statements and related Management's Discussion and Analysis for the quarter ended June 30, 2013 which are available on the Company's profile at www.sedar.com.

2013 Second Quarter Highlights

  • Second quarter revenues of $0.64 million were a 310% increase over reported revenues for the same period in 2012.

  • Six months ended June 30, 2013 revenues of $1.39 million were a 389% increase over reported revenues for same period in 2012.

  • The Silver Valley Custom Treating Facility continued with quarter over quarter growth, receiving 10% greater volumes of emulsion and produced water over the first quarter and 44% higher than in Q4, 2012.

  • The Company entered into agreements for financing of $5.35 million to facilitate its capital growth plan for 2013.

  • The Company successfully completed its planned well work over at Chamberlain and is in the process of facility construction to bring custom treating and produced water disposal services to customers in the Edmonton area before the end of the year.

  • The Company completed work on developing its new corporate brand and subsequently received approval to move forward as Ceiba Energy Services Inc. The strong environmental connection represented by the Ceiba tree and the Company's new tag line, From the Ground Up, reinforce the commitment of the organization to meeting its near and long term strategic objectives. The company is currently working a new company website and marketing materials.

Future Plans and Outlook

The Company's near term capital program consists of completing the site construction and initiating operations at the Chamberlain Facility by year end, expanding services at the Silver Valley Facility in 2014 as well as developing two new waste water disposal facilities. The Company will continue to evaluate opportunities for expansion through additional and complementary service lines, organic growth and strategic acquisitions.

About Ceiba Energy

Ceiba Energy (TSX VENTURE:CEB) provides specialized services to the energy sector, specifically to companies involved in the exploration, extraction and production of oil and natural gas in Western Canada. Ceiba Energy develops and constructs facilities in proximity to its customers to provide treatment of crude oil emulsion, terminalling, storage and marketing of oil and disposal of production.

Reader Advisory

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information based on previously announced financings. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

The Company cautions that the foregoing list of material factors is not exhaustive. When relying on Ceiba Energy's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has also assumed that material factors will not cause any forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

Neither the 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.

Ceiba Energy's website is work in progress at: www.ceibaenergy.com.

Contact Information