Hunting Regulatory News (HTG)

23 Apr 2008 07:00

Hunting PLC23 April 2008 23 April 2008 Hunting PLC AGM Interim Management Statement Hunting PLC ("Hunting"), the international energy services company, will beholding its AGM at 10.30 am today and is publishing its first Interim ManagementStatement for the period from 1 January 2008 to 23 April 2008, as required bythe UK Listing Authority's Disclosure and Transparency Rules. Richard Hunting,Chairman, will be making the following statement to shareholders. "Rising energy prices have escalated the efforts of global oil and gas companiesto find new developments and replace declining production. The scope of theseefforts continues to provide excellent opportunities for new business andsupport the recently added capacity within the Group. Gibson Energy continues to perform well in the robust Canadian oil and gasindustry. Higher volumes and a late 2007 trucking acquisition will provideadditional growth in Gibson's Truck Transportation division. Marketing has seena reversal of the poor Q4 trading environment. Its Canwest division has seenimmediate results from the three prior year acquisitions. Moose Jaw Refinery, asusual, starts slowly in the winter months with improved activity expected in theremainder of the year. High margins are being sustained in Gibson's Terminal andPipeline facilities. Hunting Energy is benefiting from the global efforts underway in deep waterdevelopment. New Middle East contracts, new manufacturing capacity along theGulf coast in the US and recently tested and approved patented products willextend this division's growth potential this year and beyond. Its Explorationand Production division began the year with successful completions and isenjoying the higher oil and gas prices. Trading is in line with the Board's expectations. We have uniquely positionedourselves to capitalise on the growing trends within the global oil and gasindustry. Combined with our organic growth capabilities and disciplinedfinancial execution, we view the future with confidence". For further information, please contact: Hunting PLCDennis Proctor, Chief Executive Tel: 020 7321 0123Peter Rose Hogarth Partnership Limited Tel: 020 7357 9477Andrew Jaques / Anthony Arthur Notes to Editors: Hunting PLC is an international energy services company providing supportsolutions to the worlds leading oil and gas companies. This information is provided by RNS The company news service from the London Stock Exchange