High Arctic Announces 2023 Third Quarter Results
CALGARY, Alberta, Nov. 15, 2023 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) released its third quarter financial and operating results. The unaudited interim consolidated financial statements, and management discussion & analysis (“MD&A”), for the quarter ended September 30, 2023 will be available on SEDAR at www.sedarplus.ca, and on High Arctic’s website at www.haes.ca. All amounts are denominated in Canadian dollars (“CAD”), unless otherwise indicated.
- Due to High Arctic’s requirement to transact with international suppliers and customers, High Arctic has received approval from the Bank of PNG to maintain its USD account within the conditions of the Bank of PNG currency regulations.
- The reorganization was intended to separate the international business of High Arctic, which is focussed on Papua New Guinea, from the Canadian business.
- The High Arctic Board has reserved its final decision to proceed with the reorganization until these matters and ongoing strategic review have been addressed to their satisfaction.
- High Arctic’s PNG business was highlighted by Rig 103 operating continuously through the third quarter.