CALGARY, ALBERTA--(Marketwire -
Jan. 5, 2010) - Black Diamond Group Limited (TSX:BDI) ("Black
Diamond" or the "Company") is pleased to
announce that Black Diamond Dene Limited Partnership (the
"Partnership") has been awarded a contract to provide a construction
accommodations camp consisting of approximately 350 beds to Spectra Energy. The contract has a minimum term of 18 months commencing July 2010 and will
generate approximately $15 million in revenue to the Partnership. This is a
turnkey operation being provided to Spectra Energy inclusive of all
installation and maintenance as well as the provision of third party catering
operations. The camp will accommodate construction related personnel in
association with infrastructure construction in the Horn River area of
northeastern British Columbia. The Partnership is a 50/50 equity based
partnership between a wholly-owned subsidiary of the Company and the Fort
Nelson First Nation.
Black Diamond is an Alberta company, the
principal undertaking of which, through its wholly-owned subsidiary, Black
Diamond Limited Partnership, and through its 50% equity participation in Black
Diamond Dene Limited Partnership, is to rent modular structures for use as
workforce accommodation and temporary workspace, rent various types of oilfield
equipment used in the exploration and production of oil and gas, and to provide
complementary services including transportation, installation, dismantling,
repair and maintenance of modular structures and oilfield equipment, as well as
related services through three operating divisions consisting of Black Diamond
Camps, BOXX Modular and Black Diamond Energy Services.
Reader Advisory
Certain information in this news release contains forward-looking
statements including management's assessment of future plans and operations of
Black Diamond. These forward-looking statements are subject to numerous risks
and uncertainties, certain of which are beyond Black Diamond's control
including, without limitation, the impact of general economic conditions,
industry conditions, fluctuation of commodity prices, fluctuation of exchange
rates, environmental risks, industry competition, availability of qualified
personnel and management, stock market volatility, timely and cost effective
access to sufficient capital from internal and external sources. As a
consequence, actual results may differ materially from those anticipated in the
forward-looking statements. Readers are cautioned that the forgoing list of
factors is not exhaustive. Additional information on these and other factors
that could effect Black Diamond's operations and financial results are included
in reports on file with Canadian securities regulatory authorities and may be
accessed through the SEDAR website (www.sedar.com)
and at Black Diamond's website (www.blackdiamondlimited.com). Furthermore, the forward-looking statements contained in this news release are
made as at the date of this news release and Black Diamond does not undertake
any obligation to update publicly or to revise any of the forward-looking
statements, whether as a result of new information, future events or otherwise,
except as may be required by applicable securities laws.