01:08:37 EDT Wed 24 Apr 2024
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Intercept Energy Services Inc
Symbol IES
Shares Issued 109,289,795
Close 2014-04-16 C$ 0.05
Market Cap C$ 5,464,490
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Intercept Energy expects Q1 revenue of $1.36-million

2014-04-16 20:28 ET - News Release

Mr. Randy Hayward reports

INTERCEPT ENERGY REPORTS REVENUES FOR Q-1, 2014

Intercept Energy Services Inc. expects to earn gross revenue for its first quarter ending March 31, 2014, of approximately $1.36-million.

These revenues were generated from the rental of its four energy heating units operating from central Alberta and also from its two energy heating trucks that recently began operation in Williston in North Dakota. The reported revenues are gross figures that have been invoiced from Intercept Energy to its clients. The company expects to release its audited financial results for the 2013 year by the end of April and the unaudited financial results for the first quarter of 2014, by the end of May.

Ron Herman, vice-president of business development, notes: "With over $800,000 in billings in March alone, we have just had our best month and our best quarter for revenue since we commenced operations in October of 2012. Our innovative heating units are performing extremely well and, although we have only just begun operations in North Dakota, the market there appears to be receptive to our technology. We expect to keep four units busy there over the next several months."

Due to spring breakup in Alberta and the subsequent roadbans now in effect, the company is relocating two of its heating units from Alberta to North Dakota for the foreseeable future.

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