Petro Field Industries Inc.

Petro Field Industries Inc.

January 18, 2006 12:45 ET

Petro Field Earns $567,508 in Fiscal 2005- 11 X Greater Than 2004 Earnings

CALGARY, ALBERTA--(CCNMatthews - Jan. 18, 2006) - Petro Field Industries Inc. (TSX VENTURE:PF) (the "Company"), a manufacturer of production equipment for the western Canadian oil and gas industry, had sales of $21,036,806 and after-tax earnings of $567,508 for fiscal 2005. This compares to prior year sales of $17,784,415 and after-tax earnings of $50,824. The year-over-year improvement resulted in EPS of $0.06 in 2005 versus less than $0.01 per share in 2004.

In the fourth quarter (summer) of 2005 we were able to utilize our resources to construct several hundred thousand dollars of finished goods inventory which will be available for resale in the first quarter of 2006.

FINANCIAL HIGHLIGHTS: (000'S - except per share amounts)

12 months ended
September 30
2005 2004
------- -------

Sales $21,037 $17,784
Net Earnings $ 568 $ 51
Earnings per Share $ 0.06 $ 0.01
EBITDA $ 1,046 $ 269
EBITDA per Share $ 0.10 $ 0.02

As the Company's annual audited financial statements indicate Petro Field was extremely successful in improving the Gross Margin it achieves on sales: Gross Margin improved to 17.87% in 2005 versus 15.64% in fiscal 2004.

Your Company would also like to report that subsequent to fiscal year end we acquired an adjacent 3.23 acre property. We will be expanding our operations to include this additional space on March 1, 2006.

Petro Field Industries Inc. is a Calgary, Alberta - based fabricator of oil and natural gas production equipment. We also purchase, refurbish as necessay, and sell used production equipment.

Petro Field Industries Inc.'s Management Discussion & Analysis and audited financial statements for the fiscal year ended September 30, 2005 will be available on and on the Company's website,

The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this News Release.

Contact Information

  • Petro Field Industries Inc.
    Bill Rollins
    President & CEO
    (403) 244-3333
    (403) 245-1821 (FAX)
    Phoenix Communications Group
    Jason Shepherd
    Investor Relations
    (250) 717-1910