Hunting Regulatory News (HTG)

27 Apr 2005 07:00

Hunting PLC27 April 2005 27 April 2005 Hunting PLC AGM Trading Statement Hunting PLC ("Hunting"), the international energy services company, will beholding its AGM today. Richard Hunting, Chairman of Hunting, will be making thefollowing statement: "The momentum that Hunting experienced in the second half of 2004 has continuedduring the first quarter of 2005. When we announced our 2004 annual results on 3March, we commented that the industry was forecasting 2005 to be the busiestyear for drilling since 1985. Indeed, current rig activity in the United Statesis at its highest level for 19 years. Canada expects to set another record yearin drilling and international rig activity is up 12% year on year. Accordingly,our order books are strong, profit margins have improved and our customersexpect strong activity levels throughout the year. "Gibson Energy's marketing activities are benefiting from the wide differentialsbetween heavy and light crude prices. Its truck transportation group is enjoyingstrong activity in crude and LPG hauling throughout Western Canada. HuntingEnergy's performance is driven by increased drilling activities worldwide.Tenkay and E.A. Gibson Shipbrokers have high commodity prices and tanker ratessupporting their performance. "We expect the improved trading conditions to continue for the remainder of 2005and, subject to exchange rate movements, Hunting's performance for the yearshould be in line with the Board's expectations. The Board continues to view thefuture with confidence." For further information, please contact: Hunting PLC Tel: 020 7321 0123Dennis Proctor, Chief ExecutiveDennis Clark, Finance Director Hogarth Partnership Limited Tel: 020 7357 9477Andrew JaquesEdward Westropp This information is provided by RNS The company news service from the London Stock Exchange