Hunting Regulatory News (HTG)

21 Jun 2006 07:00

Hunting PLC21 June 2006 21 June 2006 Hunting PLC TRADING UPDATE The favourable trading conditions highlighted in the recent AGM TradingStatement have continued. As a result, the Board now expects the Group's profitfor the full year to exceed current market expectations. Dennis Proctor, Hunting's Chief Executive, said: "Global drilling activity,Canadian heavy oil deliveries, oil and gas prices continue to be strong due toworld energy demand and reserve replacement. In Gibson Energy, TruckTransportation is benefiting from heavy oil production growth. Marketing, asalways, has increasing opportunities in a volatile market. The new EdmontonNorth Terminal is now fully operational. Moose Jaw Asphalt has made asignificant contribution to Gibson earnings due to improving well site fluidsmargin and rising asphalt prices. In Hunting Energy, increased drilling activity throughout the world hasbenefited all products and services in both well construction and wellcompletion divisions. Price increases continue as operators view delivery as ahigher priority. Order books remain strong with some deliveries extending into2007. Capital expenditure for new business committed in prior months combined with arobust market is providing confidence in our outlook for 2006 and into 2007." The Interim Results for the six months to 30 June 2006 will be announced onThursday, 31 August 2006. -ENDS- For further information, please contact: +-----------------------------------+-----------------------------------+|Hunting PLC |Tel: 020 7321 0123 || | ||Dennis Proctor, Group Chief | ||Executive | || | ||Dennis Clark, Group Finance | ||Director | || | |+-----------------------------------+-----------------------------------+|Hogarth Partnership Limited |Tel: 020 7357 9477 || | ||Andrew Jaques/ Anthony Arthur | || | |+-----------------------------------+-----------------------------------+ Notes to Editors: Hunting PLC is an international oil services company providing support solutionsto the world's largest oil and gas companies. This information is provided by RNS The company news service from the London Stock Exchange