OTS Divergent Energy Services Corporation

Canadian Oilfield Solutions Corp. (TSX VENTURE:OTS) (the "Company") announces
that it intends to restate and re-file its interim financial reports and
management's discussion and analysis as at and for the interim periods ended
March 31, 2012, June 30, 2012 and September 30, 2012 (the "2012 Interim
Filings"). As a result of the re-statement, the Company anticipates that the
filing of the Company's audited annual financial statements and management's
discussion and analysis as at and for the year ended December 31, 2012 (the
"2012 Annual Filings") will be delayed beyond the April 30, 2013 filing
deadline.


The Company has determined that, based on its own review and according to the
recommendation of its advisors, that it will restate its 2012 Interim Filings.
The basis for the restatement relates to the reporting for the Company's Mexican
construction business, which is included in the reporting segment referred to as
"Pipes and Service". In accordance with IAS18, the Company has determined that
certain of its reported gross revenues and cost of sales, from the Mexican
construction business, are more appropriately combined and reported as net
revenue. Accordingly, the Company advises that the presentation of gross revenue
and costs of sales, individually, as presented in the 2012 Interim Filings
should not be relied upon.


The Company's board of directors, audit committee and management are focused on
working diligently with their advisors to more specifically quantify and
complete the restatements required in the 2012 Interim Filings. Upon completion
of these efforts, the Company will re-file its 2012 Interim Filings and,
concurrently therewith or thereafter, will file its 2012 Annual Filings.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canadian Oilfield Solutions Corp.
Ken Berg
President and Chief Executive Officer
(403) 543-0060
(403) 543-0069 (FAX)
kberg@cotsoilfield.com
www.cotsoilfield.com


For investor relations please contact
Working Capital Corporation
Tony Nunziata
(403) 560-7040
www.workingcapitalcorp.com

Divergent Energy Services Corporation (TSXV:OTS)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024

Divergent Energy Services Corporation (TSXV:OTS)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024