CALGARY,
ALBERTA--(Marketwire - April 6, 2010) - Black Diamond Group Limited (TSX:BDI)
("Black Diamond" or the "Company") is pleased to announce
that it has negotiated guaranteed occupancy commitments with two major oil
producers at its Sunday Creek Lodge. The Lodge located near Conklin Alberta
will provide complete accommodation services to trade labourers working at the
producers' resource development projects in the area. The combined commitments
provide a guaranteed minimum occupancy for the 14 month period beginning
February 1, 2010 for approximate revenue of $28 million.
Black Diamond
acquired Sunday Creek in September of 2009 and has significantly improved and
expanded the facility. This lodge is strategically located in the very active
SAGD development area in the Alberta oil sands south of Fort McMurray. The
Company will continue to increase the capacity and quality of this facility to
meet increasing demand from producers in the area.
About Black Diamond
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, without limitation, expectations of management regarding
the effect of the combined commitments at the Company's Sunday Creek Lodge on
its business. 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.