Black Diamond Signs Long-Term Energy Services Contract With Talisman Energy Inc.
May 12 2011
CALGARY, ALBERTA--(Marketwire - May 12, 2011) - Black Diamond Group Limited (TSX:BDI) ("Black Diamond" or "the Company") (TSX:BDI), is pleased to announce through its participation in the Black Diamond Cygnus Partnership, the Company's Energy Services Division has secured a paid-monthly, guaranteed, multi-year rental contract to supply and maintain surface rental equipment for Talisman Energy Inc.'s operations in the Altares / Farrell Creek shale gas areas of northern British Columbia.
The 24-month agreement, effective April 1, 2011, will supply packaged invert tank farms and the surface rental equipment associated to operate the systems, plus installation and maintenance of the equipment for the duration of the contract. Based on anticipated levels of activity the rental contract is valued at approximately $6 million.
The Black Diamond Cygnus Partnership is an exclusive, equity-based agreement between Black Diamond Group Limited and the West Moberly First Nations, located southwest of Fort St. John, B.C.
This contract will utilize the division's existing fleet so will not affect the Company's 2011 capex budget.
About Black Diamond
Founded in 2003, Alberta-based Black Diamond Group Limited is a leading provider of temporary and permanent modular building and energy services products. Through its wholly-owned subsidiaries, Black Diamond Limited Partnership, Nortex Modular Leasing and Construction Company and through its 50% equity participation in the Black Diamond Dene Limited Partnership and Black Diamond West Moberly Limited Partnership, Black Diamond operates three complementary divisions in thirteen strategic locations across Canada and USA.
Black Diamond Camps and Logistics rents and sells remote workforce housing and provides associated services; BOXX Modular specializes in renting or selling a broad range of modular work space solutions and Black Diamond Energy Services rents and sells a full complement of oilfield equipment and services. Black Diamond provides world-class services to a full spectrum of industries including oil, gas, mining, power, construction, engineering, military, government and education.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.
Black Diamond Group Limited Trevor Haynes President and Chief Executive Officer (403) 206-4737 (403) 264-9281 (FAX)
Black Diamond Group Limited Michael Burnyeat Vice President, Finance and Chief Financial Officer (403) 206-4740 (403) 264-9281 (FAX) www.blackdiamondlimited.com