Cordy Oilfield Services Inc.
TSX VENTURE : CKK

Cordy Oilfield Services Inc.

March 07, 2011 16:46 ET

Cordy Oilfield Services Inc Subsidiary Awarded $11.8 Million Alberta Transportation Contract for Realignment of Highway 2

CALGARY, ALBERTA--(Marketwire - March 7, 2011) - Cordy Oilfield Services Inc (TSX VENTURE:CKK) announced today that one of its construction companies, Mesken Contracting Limited, ("Mesken") has been awarded an $11.8 million contract by Alberta Transportation (AT) to realign Highway 2 between Nanton and Cayley in southern Alberta.

Under the contract, Mesken will remove two bridge structures, replace with a bridge culvert and realign Highway 2. Work on the project includes grading, demolition, drainage, base course and paving. Construction is expected to begin in early spring and be completed this year.

In 2008 Mesken completed the Aldersyde interchange, a contract with AT just north of this new project on Highway 2 and during 2010 Mesken completed a major roadworks project with the Town of Okotoks.

"We made the commitment at Cordy to invest a significant amount of time and resources to position Mesken for success in heavy construction roadworks. It is projects like this one that bring fulfillment and reward our efforts. We are looking forward to working with AT again on this important highway improvement project" said David Mullen, Cordy's CEO.

Cordy Oilfield Services Inc. is a company that owns a network of independently operated businesses in Alberta and British Columbia in the construction, environmental, manufacturing and pipeline sectors. The corporate office attends to the public company compliance requirements and provides capital resources, financial expertise, leadership and strategic planning to enable the businesses to improve performance and profitability.

Forward-Looking Statements

This news release contains forward-looking statements relating to the construction contract with Alberta Transportation. All statements contained in this news release, other than statements of historical fact, are forward-looking. These statements relate to future events or the Corporation's future performance. These statements involve known and unknown risks, uncertainties and other factors that may cause events to differ materially from those anticipated in such forward-looking statements. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. The Corporation believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this press release should not be unduly relied upon by investors as actual results may vary. These statements speak only as of the date of this news release and are expressly qualified, in their entirety, by this cautionary statement.

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.

Contact Information

  • For general information:
    Cordy Oilfield Services Inc.
    David Mullen, Chairman & CEO
    (403) 802-6005
    (403) 266-2087 (FAX)
    david.mullen@cordy.ca
    or
    For investor relations information:
    Cordy Oilfield Services Inc.
    H. Allen Cameron, President
    (403) 802-6006
    (403) 266-2087 (FAX)
    allen.cameron@cordy.ca
    www.cordy.ca