Business Summary
Energy Power Systems Limited (EPS) is an integrated Independent Power Project Developer, an Oil & Gas Exploration and Development Company and a Contractor of Infrastructure Projects. EPS operates through three divsions. The Power Division is pursuing a strategy to develop and participate in Independent Power Projects (IPP) in emerging markets, with a current focus on India. The Oil & Gas Division, through the Prince Edward Island property, offers excellent potential for both coalbed methane and conventional gas resources and plans an exploration program consisting of a detailed assessment of existing seismic data and available drill well logs. The Company's Engineering & Contracting Division produces steel components for structures and heavy industry; manufactures pressurized vessels and tanks; and provides in-plant fabrication, welding and assembly services for the offshore oil industry at its 40,000 square foot and 15 acre production yard in St. John's, Newfoundland.
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Financial Summary
Energy Power Systems Ltd. is an integrated Independent Power Project Developer, an Oil and Gas Exploration and Development Company and a Contractor of Infrastructure Projects. For the nine months ended 3/31/01, sales rose 9% to C$15.2 million. Net loss from cont'd operations fell 73% to C$529 thousand. Revenues reflect increased engineering and oil/gas sales. Lower loss also reflects decreased interest and administrative expenses
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