Sixty Six
Oilfield Services, Inc. Announces Banner Year, Diversifies
Portfolio, and Names New CEO.
NEW YORK, NEW YORK
-- February 01,2018 -- InvestorsHub NewsWire
-- Sixty Six Oilfield
Services, Inc. (OTCBB:
SSOF) is excited to announce 2017 year end net revenue estimate
of $1,142m on gross sales of $5,957m. Compared to 2016 with $695k
of net revenue on gross sales of $3,920m, the Company anticipates
year over year improvements of approximately 52% in gross sales and
64% in net revenue. The Company increased its margins from 19% to
24%.
This is a
banner year for Sixty Six
and is
good news for our shareholders. However, the Board of Directors
feels that we can do even more to build value and has
take
the step
to take advantage of improving market conditions in a number of
sectors outside Oil and Gas. The Company will expand into two major
areas marketing/adverting and mobile technology. While, "The
current oil and gas market provides a great opportunity for the
Company to increase sales substantially in 2018 and we are quite
pleased with our 2017 progress", an additional focus of the Company
is to provide a compelling offering to our stakeholders through
holdings across two non-correlative industry sectors, energy,
marketing/adverting, and mobile technology. This allows for optimal
diversification and takes advantage of relationships the Company
has already in place. The re-engineered Company creates a more
balanced portfolio that is globally competitive, and builds
immediate value for all debt and equity stakeholders; leveraging
the current super-heated market environment.
Jim Frazier has
elected to step down as President to focus solely the development
of the oilfield service sector and is renamed as Executive Vice
President. Dave T. Ho has been
elected, President, Chief Executive Officer and serves on the board
of directors. The new directors and officers replace prior
management. Mr. Ho said: "We are excited to announce the start of a
new global marketing business." The Company's new business plan now
includes developing and acquiring successful advertising, marketing
and digital businesses while continuing to grow the oilfield
services business at market pace. Mr. Ho continued: "We plan to
create shareholder value by building an agency that is on the
vanguard of the growing demand for Customer Experience Management
(CXM). This discipline applies customer analytic technology to map
the entire customer experience journey, to build brand loyalty. Our
focus on customer-centric models transforms business intelligence,
and will help our clients build lifetime customer engagement in
order to compete in the new digital marketplace."
Mr. Ho is a
marketing veteran with over 20 years as a business owner and
marketing executive. Mr. Ho has a MFA from Yale University and has
been a partner at two successful marketing agencies in Connecticut,
Design Trust Inc. and York & Chapel, Corp., where he is
currently president.
About
the Company
Sixty Six
Oilfield
Services, Inc. is located on Lexington Ave in Manhattan, NY and is
a Nevada registered holding company. The company is actively
pursuing a strategy of acquiring a diverse range of, strategic
marketing and technology businesses for its portfolio. The Company
is continuing its oilfield services business and will maintain its
offices in Oklahoma City.
Learn more
at www.sixtysixoilfield.com.
SAFE HARBOR INFORMATION
This
press release may contain forward-looking information within the
meaning of Section 21E
of the
Securities Exchange Act of 1934, as amended (the Exchange Act) The
Company is not eligible to rely on the safe harbor provided by
Section 21E(c) of the Exchange Act because it is not subject to
filing periodic reports under Sections 13 or 15(d) of the Exchange
Act.
For
more information, contact:
Sixty
Six Oilfield Services,
Inc.
450
Lexington Ave
4th
floor
New
York, NY 10017
(929)
383-0821
PR@sixtysixoilfield.com