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Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: SofaSpud who wrote (11696)	7/16/1998 7:29:00 AM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR / ENERTEC Resource Services Anticipates Record 3rd Quarter Earnings ENERTEC ANTICIPATES RECORD THIRD QUARTER EARNINGS CALGARY, July 15 /CNW/ - ENERTEC RESOURCE SERVICES INC. (''ENERTEC'' or ''the Company'') anticipates earnings for the third quarter, ending June 30, 1998, to be the best ever third quarter for the Company. Typically this quarter produces the lowest earnings, whereas this year it is anticipated to show earnings marginally higher than the previous record third quarter earnings of $0.07 per share (basic). This financial performance is the result of strategic planning which diversified the Company's product lines outside Canada into geographic markets with complementary activity and financial cycles. This statement is issued to address concerns within the investment community regarding the effect of low oil prices on the oil and gas services industry in Canada. The Company recognizes that low oil prices will affect its business if they persist for the long-term. However, ENERTEC anticipates that by the end of the calendar year, oil prices will improve and natural gas prices will be higher than current levels. ENERTEC anticipates that its third quarter financial results will be released on or about August 14, 1998. ENERTEC Resource Services Inc. is a Calgary based company which operates throughout North America, providing land seismic data acquisition, land and marine seismic data processing services and marine geophysical and navigation services.