Announcement • Jun 10
High Arctic Energy Services Inc. Announces CFO Changes, Effective June 10, 2026 High Arctic Energy Services Inc. announced that Jay Bachman, High Arctic's Interim Chief Financial Officer, had recently tendered his resignation and his last day at High Arctic would be June 10, 2026. The Corporation had waived Mr. Bachman's notice period in his employment arrangement to permit him to quickly move on to a new opportunity. Mr. Bachman had been with High Arctic since September 2024 and was instrumental in the transition of the accounting and reporting aspects related to High Arctic's 2024 carve-out transaction with High Arctic Overseas Corp. Since assuming the role of Interim Chief Financial Officer in August of last year, Jay had led efforts to streamline the Corporation's financial and governance processes to better align with the go-forward scale and requirements at High Arctic. Teh company also announced that Ms. Dorraine Neal had been appointed Interim Chief Financial Officer, effective June 10, 2026. Ms. Neal initially joined the Corporation in March 2024 in a consulting capacity and accepted a full-time role as Corporate Controller in September 2024. Ms. Neal is a Chartered Professional Accountant with over 25 years of expertise in financial operations, management accounting and reporting, implementing/maintaining multi-currency financial systems and corporate budgeting and planning. Since joining High Arctic she had proven her ability to successfully manage the finance and administration team while effectively supporting operational management and senior executives. Reported Earnings • May 17
First quarter 2026 earnings released: EPS: CA$0.07 (vs CA$0.01 loss in 1Q 2025) First quarter 2026 results: EPS: CA$0.07 (up from CA$0.01 loss in 1Q 2025). Revenue: CA$2.74m (up 17% from 1Q 2025). Net income: CA$855.0k (up CA$975.0k from 1Q 2025). Profit margin: 31% (up from net loss in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 132% per year but the company’s share price has fallen by 45% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 04
Full year 2025 earnings released: EPS: CA$0.03 (vs CA$0.17 loss in FY 2024) Full year 2025 results: EPS: CA$0.03 (up from CA$0.17 loss in FY 2024). Revenue: CA$10.6m (up 1.6% from FY 2024). Net income: CA$356.0k (up CA$2.47m from FY 2024). Profit margin: 3.3% (up from net loss in FY 2024). Over the last 3 years on average, earnings per share has increased by 126% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. Announcement • Mar 09
High Arctic Energy Services Inc, Annual General Meeting, May 14, 2026 High Arctic Energy Services Inc, Annual General Meeting, May 14, 2026. Reported Earnings • Nov 10
Third quarter 2025 earnings released: EPS: CA$0.07 (vs CA$0.01 in 3Q 2024) Third quarter 2025 results: EPS: CA$0.07 (up from CA$0.01 in 3Q 2024). Revenue: CA$2.93m (up 17% from 3Q 2024). Net income: CA$931.0k (up CA$806.0k from 3Q 2024). Profit margin: 32% (up from 5.0% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has fallen by 48% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 13
Second quarter 2025 earnings released: CA$0.022 loss per share (vs CA$0.14 loss in 2Q 2024) Second quarter 2025 results: CA$0.022 loss per share (improved from CA$0.14 loss in 2Q 2024). Revenue: CA$2.39m (down 5.6% from 2Q 2024). Net loss: CA$295.0k (loss narrowed 83% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has fallen by 48% per year, which means it is significantly lagging earnings. Reported Earnings • May 14
First quarter 2025 earnings released: CA$0.01 loss per share (vs CA$0.015 profit in 1Q 2024) First quarter 2025 results: CA$0.01 loss per share (down from CA$0.015 profit in 1Q 2024). Revenue: CA$2.34m (down 22% from 1Q 2024). Net loss: CA$120.0k (down 166% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. New Risk • Apr 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (CA$11.3m market cap, or US$8.20m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Announcement • Apr 21
High Arctic Energy Services Inc, Annual General Meeting, Jun 19, 2025 High Arctic Energy Services Inc, Annual General Meeting, Jun 19, 2025. Reported Earnings • Apr 02
Full year 2024 earnings released: CA$0.17 loss per share (vs CA$1.05 loss in FY 2023) Full year 2024 results: CA$0.17 loss per share (improved from CA$1.05 loss in FY 2023). Revenue: CA$10.5m (down 83% from FY 2023). Net loss: CA$2.12m (loss narrowed 84% from FY 2023). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 47% per year, which means it is significantly lagging earnings. New Risk • Nov 25
New major risk - Revenue and earnings growth Earnings have declined by 2.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.2% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Market cap is less than US$100m (CA$14.3m market cap, or US$10.2m). Reported Earnings • Nov 20
Third quarter 2024 earnings released: EPS: CA$0.01 (vs CA$1.24 loss in 3Q 2023) Third quarter 2024 results: EPS: CA$0.01 (up from CA$1.24 loss in 3Q 2023). Revenue: CA$2.51m (down 86% from 3Q 2023). Net income: CA$125.0k (up CA$15.2m from 3Q 2023). Profit margin: 5.0% (up from net loss in 3Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 43% per year, which means it is significantly lagging earnings. New Risk • Nov 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.9m (US$9.99m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 12% per year over the past 5 years. Market cap is less than US$10m (CA$13.9m market cap, or US$9.99m). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Recent Insider Transactions Derivative • Jul 15
Independent Director exercised options to buy CA$445k worth of stock. On the 8th of July, Michael Binnion exercised options to buy 297k shares at a strike price of around CA$1.50, costing a total of CA$444k. This transaction amounted to 15% of their direct individual holding at the time of the trade. Since September 2023, Michael has owned 1.92m shares directly. Company insiders have collectively bought CA$977k more than they sold, via options and on-market transactions, in the last 12 months. Declared Dividend • Jul 05
First quarter dividend of CA$0.76 announced Shareholders will receive a dividend of CA$0.76. Ex-date: 18th July 2024 Payment date: 17th July 2024 Dividend yield will be 51%, which is higher than the industry average of 3.2%. Announcement • Jun 13
High Arctic Energy Services Inc Appoints Lonn Bate as Chief Financial Officer Effective July 1, 2024 High Arctic Energy Services Inc. announced the appointment of Lonn Bate as Chief Financial Officer effective July 1, 2024. Mr. Bate initially joined the Corporation in March 2023 in a consulting capacity and in August of 2023 took on the role of Interim CFO with a view to strengthening the finance and accounting processes within the Corporation and providing financial leadership for High Arctic to advance its restructuring initiatives that have culminated in the Arrangement. Mr. Bate is a Chartered Professional Accountant (CA) with over 25 years of broad financial leadership including substantial periods in senior executive roles of public and private junior energy and energy services companies. Mr. Bate's experience extends to the international as well as the Canadian energy sectors. He brings extensive knowledge in financial stewardship, strategic planning and analysis, equity and debt financing, company reorganizations, mergers and acquisitions, and consolidating global finance teams. Reported Earnings • May 17
First quarter 2024 earnings released: EPS: CA$0.07 (vs CA$0.013 loss in 1Q 2023) First quarter 2024 results: EPS: CA$0.07 (up from CA$0.013 loss in 1Q 2023). Revenue: CA$18.0m (up 89% from 1Q 2023). Net income: CA$3.51m (up CA$4.13m from 1Q 2023). Profit margin: 20% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • May 15
High Arctic Energy Services Inc to Report Q1, 2024 Results on May 15, 2024 High Arctic Energy Services Inc announced that they will report Q1, 2024 results After-Market on May 15, 2024 Reported Earnings • Apr 09
Full year 2023 earnings released: CA$0.25 loss per share (vs CA$0.75 loss in FY 2022) Full year 2023 results: CA$0.25 loss per share (improved from CA$0.75 loss in FY 2022). Revenue: CA$61.9m (down 23% from FY 2022). Net loss: CA$12.8m (loss narrowed 65% from FY 2022). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Apr 04
High Arctic Energy Services Inc to Report Q4, 2023 Results on Apr 05, 2024 High Arctic Energy Services Inc announced that they will report Q4, 2023 results at 4:00 PM, US Eastern Standard Time on Apr 05, 2024 Recent Insider Transactions Derivative • Dec 08
Chief Executive Officer exercised options to buy CA$343k worth of stock. On the 4th of December, Michael Maguire exercised options to buy 306k shares at a strike price of around CA$1.12, costing a total of CA$343k. This transaction amounted to 105% of their direct individual holding at the time of the trade. Since March 2023, Michael's direct individual holding has increased from 272.52k shares to 290.27k. Company insiders have collectively bought CA$348k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Nov 19
Third quarter 2023 earnings released: CA$0.31 loss per share (vs CA$0.093 loss in 3Q 2022) Third quarter 2023 results: CA$0.31 loss per share (further deteriorated from CA$0.093 loss in 3Q 2022). Revenue: CA$17.8m (up 42% from 3Q 2022). Net loss: CA$15.0m (loss widened 231% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 2% per year. Announcement • Sep 23
High Arctic Energy Services Inc. Declares Monthly Dividend, Payable on October 16, 2023 High Arctic Energy Services Inc. announced that its Board of Directors has approved a monthly dividend payment of $0.005 per share to holders of common shares. The dividend is payable on October 16, 2023, to holders of High Arctic common shares of record at the close of business on September 29, 2023. The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes. Announcement • Aug 23
High Arctic Energy Services Inc. Declares Monthly Dividend, Payable on September 14, 2023 High Arctic Energy Services Inc. announced that its Board of Directors has approved a monthly dividend payment of $0.005 per share to holders of common shares. The dividend is payable on September 14, 2023, to holders of High Arctic common shares of record at the close of business on August 31, 2023. Announcement • Aug 12
High Arctic Energy Services Inc Announces CFO Changes, Effective August 17, 2023 High Arctic Energy Services Inc. announced that Mr. Lonn Bate has been appointed Interim Chief Financial Officer, effective August 17, 2023. Mr. Bate initially joined the Corporation in March 2023 in a consulting capacity. Mr. Bate is a Chartered Professional Accountant, CA with over 25 years of broad financial leadership including substantial periods in senior executive roles of public and private junior energy and energy services companies. Mr. Bates experience extends to international as well as the Canadian energy sector. He brings extensive knowledge in financial stewardship, strategic planning and analysis, equity and debt financing, company reorganizations, mergers and acquisitions, and consolidating global finance teams. As announced on May 23, 2023 Mr. Lance Mierendorf, High Arctics Chief Financial Officer for the past two years, tendered his resignation with effect August 17. Announcement • Aug 10
High Arctic Energy Services Inc Announces the Resignation of Daniel Bordessa as a Director High Arctic Energy Services Inc. announced that Daniel Bordessa has tendered his resignation as a director effective immediately. Mr. Bordessa has been a director of the Corporation since April 2011. Mr. Bordessa sits on the Board’s Audit, QHSE, Remuneration and Executive Committees. The Board will replace Mr. Bordessa on these committees from among the four remaining directors. Mr. Bordessa is a partner of Cyrus Capital Partners, L.P. New Risk • Aug 05
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. Cash payout ratio: 333% Dividend yield: 4.4% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 333% Earnings have declined by 48% per year over the past 5 years. Minor Risk Market cap is less than US$100m (CA$64.7m market cap, or US$48.5m). Reported Earnings • Aug 04
Second quarter 2023 earnings released: EPS: CA$0.001 (vs CA$0.42 loss in 2Q 2022) Second quarter 2023 results: EPS: CA$0.001 (up from CA$0.42 loss in 2Q 2022). Revenue: CA$17.2m (down 33% from 2Q 2022). Net income: CA$89.0k (up CA$20.4m from 2Q 2022). Profit margin: 0.5% (up from net loss in 2Q 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Announcement • Aug 01
High Arctic Energy Services Inc to Report Q2, 2023 Results on Aug 03, 2023 High Arctic Energy Services Inc announced that they will report Q2, 2023 results at 4:00 PM, US Eastern Standard Time on Aug 03, 2023 Announcement • Jul 25
High Arctic Energy Services Inc. Declares Monthly Dividend, Payable on August 14, 2023 High Arctic Energy Services Inc. announced that its Board of Directors has approved a monthly dividend payment of $0.005 per share to holders of common shares. The dividend is payable on August 14, 2023, to holders of High Arctic common shares of record at the close of business on July 31, 2023. Announcement • Jun 22
High Arctic Declares Monthly Dividend, Payable on July 14, 2023 High Arctic Energy Services Inc. announced that its Board of Directors has approved a monthly dividend payment of $0.005 per share to holders of common shares. The dividend is payable on July 14, 2023, to holders of High Arctic common shares of record at the close of business on June 30, 2023. Announcement • Jun 21
An Unknown buyer agreed to acquire Canadian nitrogen pumping assets from High Arctic Energy Services Inc for CAD 1.35 million. An Unknown buyer entered into an asset purchase agreement to acquire Canadian nitrogen pumping assets from High Arctic Energy Services Inc for CAD 1.35 million on June 19, 2023. The Nitrogen assets Transaction results in the transfer of High Arctic’s dedicated nitrogen assets and support employees to the Buyer. High Arctic retains associated working capital and estimates a modest gain on sale over equipment net asset carrying value. Transaction is subject to customary commercial closing conditions and is expected to close on July 21, 2023. The net proceeds will increase liquidity as the Corporation furthers its recently announced intention to undertake a return of capital to shareholders and reorganize. Announcement • May 24
High Arctic Energy Services Inc. Announces the Resignation of Lance Mierendorf as Chief Financial Officer, Effective from August 17, 2023 High Arctic Energy Services Inc. announced that Lance Mierendorf, High Arctic’s Chief Financial Officer, has tendered his resignation and plans to step down effective August 17, 2023. Mr. Mierendorf has been with High Arctic for the past two years and, in addition to solidifying financial reporting, has been instrumental in strategic transactions undertaken by the Corporation during his tenure. The timing of Lance’s departure corresponds with the release of second quarter 2023 earnings and substantial progress towards the recently announced intention to reorganize the Corporation and effect a return of capital to shareholders subject to a Special Meeting of Shareholders by the end of September, 2023. Considering these developments, a recruitment process will be initiated to appoint a successor. Announcement • May 20
High Arctic Energy Services Inc Declares Monthly Dividend, Payable on June 14, 2023 High Arctic Energy Services Inc. announced that its Board of Directors has approved a monthly dividend payment of $0.005 per share to holders of common shares. The dividend is payable on June 14, 2023, to holders of High Arctic common shares of record at the close of business on May 31, 2023. Reported Earnings • May 12
First quarter 2023 earnings released: CA$0.01 loss per share (vs CA$0.055 loss in 1Q 2022) First quarter 2023 results: CA$0.01 loss per share (improved from CA$0.055 loss in 1Q 2022). Revenue: CA$9.53m (down 67% from 1Q 2022). Net loss: CA$625.0k (loss narrowed 77% from 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Announcement • May 06
High Arctic Energy Services Inc to Report Q1, 2023 Results on May 11, 2023 High Arctic Energy Services Inc announced that they will report Q1, 2023 results After-Market on May 11, 2023 Reported Earnings • Mar 30
Full year 2022 earnings released: CA$0.75 loss per share (vs CA$0.38 loss in FY 2021) Full year 2022 results: CA$0.75 loss per share (further deteriorated from CA$0.38 loss in FY 2021). Revenue: CA$80.0m (up 4.7% from FY 2021). Net loss: CA$36.6m (loss widened 97% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 39% per year, which means it is well ahead of earnings. Announcement • Jan 22
High Arctic Energy Services Inc. Declares Monthly Dividend, Payable on February 14, 2023 High Arctic Energy Services Inc. announced that its Board of Directors has approved a monthly dividend payment of $0.005 per share to holders of common shares. The dividend is payable on February 14, 2023, to holders of High Arctic common shares of record at the close of business on January 31, 2023. Announcement • Dec 22
High Arctic Energy Services Inc Declares Monthly Dividend, Payable on January 13, 2023 High Arctic Energy Services Inc. announced that its Board of Directors has approved a monthly dividend payment of $0.005 per share to holders of common shares. The dividend is payable on January 13, 2023 to holders of High Arctic common shares of record at the close of business on December 30, 2022. Announcement • Nov 23
High Arctic Declares Monthly Dividend, Payable on December 14, 2022 High Arctic Energy Services Inc. announced that its Board of Directors has approved a monthly dividend payment of $0.005 per share to holders of common shares. The dividend is payable on December 14, 2022 to holders of High Arctic common shares of record at the close of business on November 30, 2022. The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes. Reported Earnings • Nov 16
Third quarter 2022 earnings released: CA$0.09 loss per share (vs CA$0.098 loss in 3Q 2021) Third quarter 2022 results: CA$0.09 loss per share (improved from CA$0.098 loss in 3Q 2021). Revenue: CA$12.5m (down 33% from 3Q 2021). Net loss: CA$4.55m (loss narrowed 5.0% from 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Director Doug Strong was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 08
High Arctic Energy Services Inc to Report Q3, 2022 Results on Nov 10, 2022 High Arctic Energy Services Inc announced that they will report Q3, 2022 results After-Market on Nov 10, 2022 Announcement • Oct 22
High Arctic Energy Services Inc Announces Monthly Dividend, Payable on November 14, 2022 h Arctic Energy Services Inc. announced that its Board of Directors has approved a monthly dividend payment of $0.005 per share to holders of common shares. The dividend is payable on November 14, 2022 to holders of High Arctic common shares of record at the close of business on October 31, 2022. Announcement • Sep 22
High Arctic Energy Services Inc Approves Monthly Dividend, Payable on October 14, 2022 High Arctic Energy Services Inc. announced that its Board of Directors has approved a monthly dividend payment of $0.005 per share to holders of common shares. The dividend is payable on October 14, 2022 to holders of High Arctic common shares of record at the close of business on September 30, 2022. Announcement • Aug 21
High Arctic Energy Services Inc Declares Monthly Dividend, Payable on September 14, 2022 High Arctic Energy Services Inc. announced that its Board of Directors has approved a monthly dividend payment of $0.005 per share to holders of common shares. The dividend is payable on September 14, 2022 to holders of High Arctic common shares of record at the close of business on August 31, 2022. Reported Earnings • Aug 12
Second quarter 2022 earnings released: CA$0.42 loss per share (vs CA$0.082 loss in 2Q 2021) Second quarter 2022 results: CA$0.42 loss per share (down from CA$0.082 loss in 2Q 2021). Revenue: CA$25.7m (up 57% from 2Q 2021). Net loss: CA$20.3m (loss widened 404% from 2Q 2021). Over the next year, revenue is expected to shrink by 17% compared to a 12% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Aug 10
High Arctic Energy Services Inc to Report Q2, 2022 Results on Aug 11, 2022 High Arctic Energy Services Inc announced that they will report Q2, 2022 results After-Market on Aug 11, 2022 Announcement • Jul 29
Precision Drilling Corporation (TSX:PD) completed the acquisition of Well servicing business and associated rentals assets of High Arctic Energy Services Inc (TSX:HWO) for CAD 38.2 million. Precision Drilling Corporation (TSX:PD) entered into an asset purchase agreement to acquire Well servicing business and associated rentals assets of High Arctic Energy Services Inc (TSX:HWO) for CAD 38.2 million on July 17, 2022. An initial payment of CAD 10.2 million will be made at closing, and the remaining balance due in January 2023, with High Arctic expecting to retain approximately CAD 3.0 million in closing working capital. The transaction will result in the transfer of High Arctic’s Well Servicing employees and a large majority of support personnel to Precision. The transaction is subject to customary commercial closing conditions and is expected to close before the end of July 2022. This is an accretive acquisition that supports Precision’s long-term capital allocation and de-leveraging plan through increased cash flow generation. CIBC Capital Markets is acting as exclusive financial advisor and Torys LLP is acting as legal advisor to Precision. DLA Piper (Canada) LLP acted as legal advisor to High Arctic Energy Services. Paradigm Capital Inc. is acting as exclusive financial advisor to High Arctic
Precision Drilling Corporation (TSX:PD) completed the acquisition of Well servicing business and associated rentals assets of High Arctic Energy Services Inc (TSX:HWO) on July 28, 2022. Announcement • Jul 22
High Arctic Energy Services Inc Declares Monthly Dividend, Payable on August 12, 2022 High Arctic Energy Services Inc. announced that its Board of Directors has approved a monthly dividend payment of $0.005 per share to holders of common shares. The dividend is payable on August 12, 2022 to holders of High Arctic common shares of record at the close of business on July 29, 2022. The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes. Major Estimate Revision • Jul 20
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from CA$119.0m to CA$73.0m. Energy Services industry in Canada expected to see average net income growth of 75% next year. Consensus price target down from CA$2.50 to CA$2.00. Share price rose 4.2% to CA$1.50 over the past week. Announcement • Jul 19
Precision Drilling Corporation (TSX:PD) entered into an asset purchase agreement to acquire Well servicing business and associated rentals assets of High Arctic Energy Services Inc (TSX:HWO) for CAD 38.2 million. Precision Drilling Corporation (TSX:PD) entered into an asset purchase agreement to acquire Well servicing business and associated rentals assets of High Arctic Energy Services Inc (TSX:HWO) for CAD 38.2 million on July 18, 2022. An initial payment of CAD 10.2 million will be made at closing, with the remaining balance due in January 2023. The Transaction is subject to customary commercial closing conditions and is expected to close before the end of July 2022. This is an accretive acquisition that supports Precision’s long-term capital allocation and de-leveraging plan through increased cash flow generation. CIBC Capital Markets is acting as exclusive financial advisor and Torys LLP is acting as legal advisor to Precision. DLA Piper (Canada) LLP acted as legal advisor to High Arctic Energy Services. Paradigm Capital Inc. is acting as exclusive financial advisor to High Arctic Announcement • Jun 21
High Arctic Energy Services Inc Declares Monthly Dividend, Payable on July 14, 2022 High Arctic Energy Services Inc. announced that its Board of Directors has approved a monthly dividend payment of $0.005 per share to holders of common shares. The dividend is payable on July 14, 2022 to holders of High Arctic common shares of record at the close of business on June 30, 2022. Announcement • May 21
High Arctic Energy Services Inc Declares Monthly Dividend, Payable on June 14, 2022 High Arctic Energy Services Inc. announce that its Board of Directors has approved a monthly dividend payment of $0.005 per share to holders of common shares. The dividend is payable on June 14, 2022 to holders of High Arctic common shares of record at the close of business on May 31, 2022. The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes. Announcement • May 10
High Arctic Energy Services Inc to Report Q1, 2022 Results on May 12, 2022 High Arctic Energy Services Inc announced that they will report Q1, 2022 results After-Market on May 12, 2022 Price Target Changed • Apr 27
Price target increased to CA$2.50 Up from CA$2.00, the current price target is provided by 1 analyst. New target price is 40% above last closing price of CA$1.78. Stock is up 39% over the past year. The company posted a net loss per share of CA$0.38 last year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Director Doug Strong was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 13
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: CA$0.38 loss per share (up from CA$0.53 loss in FY 2020). Revenue: CA$76.4m (down 16% from FY 2020). Net loss: CA$18.6m (loss narrowed 28% from FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.6%. Over the next year, revenue is forecast to grow 58%, compared to a 16% growth forecast for the industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Announcement • Feb 01
High Arctic Energy Services Inc. Commences Rig Operations in PNG High Arctic Energy Services Inc. confirmed that it has commenced rig operations in Papua New Guinea (“PNG”) with Rig 115 starting wellbore work activity for one of primary customers. Following the assembly and recommissioning of Rig 115 and equipment on site, work recently commenced on re-entering the wellbore. This key milestone was achieved without incident, building on the 5 years and 2.5 million hours worked without recording an incident in PNG. The efficient movement of High Arctic people and equipment to the wellsite was hindered by unavailability of transportation equipment, significant weather events and Covid-19 induced personnel shortages and travel restrictions which combined to move the commencement date into 2022. High Arctic has been active in Papua New Guinea for nearly fifteen years, conducting work for all the main exploration and production companies including large multi-nationals and companies of regional significance. With the successful resumption of drilling services in PNG, the stage is set for meaningful drilling project announcements during 2022. Board Change • Jan 03
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Director Doug Strong was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Nov 17
Price target increased to CA$2.00 Up from CA$1.80, the current price target is provided by 1 analyst. New target price is 16% above last closing price of CA$1.72. Stock is up 52% over the past year. The company is forecast to post a net loss per share of CA$0.35 next year compared to a net loss per share of CA$0.52 last year. Reported Earnings • Nov 14
Third quarter 2021 earnings released: CA$0.10 loss per share (vs CA$0.13 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses and improved control over expenses, although revenues were flat. Third quarter 2021 results: Revenue: CA$18.7m (flat on 3Q 2020). Net loss: CA$4.78m (loss narrowed 23% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Price Target Changed • Oct 22
Price target decreased to CA$1.80 Down from CA$2.00, the current price target is provided by 1 analyst. New target price is 5.3% below last closing price of CA$1.90. Stock is up 153% over the past year. The company is forecast to post a net loss per share of CA$0.35 next year compared to a net loss per share of CA$0.52 last year. Reported Earnings • Aug 14
Second quarter 2021 earnings released: CA$0.08 loss per share (vs CA$0.12 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: CA$16.4m (up 1.7% from 2Q 2020). Net loss: CA$4.02m (loss narrowed 33% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Announcement • Jul 24
High Arctic Energy Services Inc Announces an Update on Activities in Papua New Guinea High Arctic Energy Services Inc. announced that have agreed to terms with a major multi-national customer in Papua New Guinea (“PNG”) to provide services in 2021 for the abandonment of a complex legacy exploration well, and the extension of its long-standing drilling services contracts. The well abandonment project is for a subsidiary of a major multi-national energy company. It requires deployment of the Company’s heli-portable Rig 115 as well as two 100 bed heli-portable camps accompanied by a suite of support equipment, personnel and services. Conclusion of the agreement is subject to obtaining Bank of Papua New Guinea and other customary approvals. In the near term, the Company plans to deploy the first camp and make ready Rig 115, a second camp and support equipment all of which is coming out of cold stack. Field operations are expected to commence during the fourth quarter of this year, following mobilization to the remote well site. Additionally, longest-standing PNG customer has issued notice to High Arctic exercising an option to extend existing contracts to August 2022. The two sets of contracts follow a series of recent positive developments in PNG’s natural resources sector. In a statement last week, PNG Prime Minister James Marape indicated that terms have been agreed for the Pasca-A gas condensate development and, that the state negotiating team will be commencing talks with PNG-LNG partners later this month on terms for the P’nyang gas field development. Reported Earnings • May 16
First quarter 2021 earnings released: CA$0.11 loss per share (vs CA$0.044 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: CA$17.8m (down 55% from 1Q 2020). Net loss: CA$5.20m (loss widened 136% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Announcement • May 14
High Arctic Energy Services Inc. Announces No Dividend for First Quarter of 2021 High Arctic Energy Services Inc. announced that no dividends were paid in first quarter of 2021, compared to $1.6 million paid in first quarter of 2020 ($0.03 per share). Executive Departure • Apr 06
VP of Finance & CFO has left the company On the 2nd of April, Christopher Ames' tenure as VP of Finance & CFO ended after 1.1 years in the role. We don't have any record of a personal shareholding under Christopher's name. Christopher is the only executive to leave the company over the last 12 months. Reported Earnings • Mar 14
Full year 2020 earnings released: CA$0.52 loss per share (vs CA$0.18 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: CA$90.8m (down 51% from FY 2019). Net loss: CA$25.9m (loss widened 194% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Analyst Estimate Surprise Post Earnings • Mar 14
Revenue misses expectations Revenue missed analyst estimates by 0.2%. Over the next year, revenue is forecast to grow 2.4%, compared to a 7.2% growth forecast for the Energy Services industry in Canada. Announcement • Mar 13
High Arctic Energy Services Inc, Annual General Meeting, May 13, 2021 High Arctic Energy Services Inc, Annual General Meeting, May 13, 2021. Announcement • Mar 09
High Arctic Energy Services Inc to Report Q4, 2020 Results on Mar 11, 2021 High Arctic Energy Services Inc announced that they will report Q4, 2020 results After-Market on Mar 11, 2021 Is New 90 Day High Low • Feb 25
New 90-day high: CA$1.44 The company is up 24% from its price of CA$1.16 on 26 November 2020. The Canadian market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Energy Services industry, which is up 25% over the same period. Is New 90 Day High Low • Jan 06
New 90-day high: CA$1.30 The company is up 94% from its price of CA$0.67 on 07 October 2020. The Canadian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 35% over the same period. Is New 90 Day High Low • Dec 16
New 90-day high: CA$1.29 The company is up 122% from its price of CA$0.58 on 16 September 2020. The Canadian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 36% over the same period. Analyst Estimate Surprise Post Earnings • Nov 18
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) also surpassed analyst estimates by 2.9%. Over the next year, revenue is expected to shrink by 27% compared to a 11% decline forecast for the Energy Services industry in Canada. Price Target Changed • Nov 17
Price target raised to CA$2.38 Up from CA$2.10, the current price target is provided by 1 analyst. The new target price is 147% above the current share price of CA$0.96. As of last close, the stock is down 51% over the past year. Reported Earnings • Nov 15
Third quarter 2020 earnings released: CA$0.12 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: CA$18.5m (down 63% from 3Q 2019). Net loss: CA$6.20m (loss widened 464% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 111% per year but the company’s share price has only fallen by 39% per year, which means it has not declined as severely as earnings. Announcement • Nov 10
High Arctic Energy Services Inc to Report Q3, 2020 Results on Nov 12, 2020 High Arctic Energy Services Inc announced that they will report Q3, 2020 results at 5:00 PM, Eastern Standard Time on Nov 12, 2020 Is New 90 Day High Low • Nov 10
New 90-day high: CA$0.79 The company is up 22% from its price of CA$0.65 on 12 August 2020. The Canadian market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is down 7.0% over the same period. Is New 90 Day High Low • Oct 16
New 90-day high: CA$0.70 The company is up 8.0% from its price of CA$0.65 on 17 July 2020. The Canadian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is down 6.0% over the same period. 
