Sixty Six Oilfield Services, Inc. Answers Shareholder Questions
May 31 2018 - 8:02AM
InvestorsHub NewsWire
Sixty Six Oilfield
Services, Inc.
Answers
Shareholder
Questions
Oklahoma City, OK -- May
31, 2018 -- InvestorsHub NewsWire -- SIXTY SIX OILFIELD SERVICES,
INC. (OTCBB:
SSOF), answers pressing shareholder
questions. Chief Executive Officer, Dave
Ho said, "As we move swiftly through the second quarter, I want to
take time out to answer some shareholder questions e-mailed to us.
These questions have been asked by numerous investors over the last
several months and we take them seriously. We are dedicated to
continuing to improve our transparency while our plans for the 5
Star Rig and Supply acquisition proceeds according to plan. As we
are nearing the competition of that process and we will be making
new announcements with further information in the very near
future."
SSOF has an audit that has
been going on for way too long, any hint as to when this will be
completed?
The audit is current on
pause due to our LOI letter for the acquisition of 5 Star Rig and
Supply.
I am concerned about
dilution and reverse splits. Can the company shed some light on
potential future reverse split and dilutions?
There are no immediate
plans for dilutions or splits in the future. However, do not take
that as a guarantee one way or another. If we make plans to do so,
we will announce them in the most transparent way
possible.
What are your thoughts of
a share buyback? As it stands according to your financials your
company is extremely undervalued and with your cash flow you could
buy back some of your shares.
Due to the 5 Star deal,
there are no plans for a stock buyback.
What is the status of your
two large potential oil rig sales?
The projects are very much
alive and we are working to complete them in the third quarter.
These projects are a very important part of the company's growth
this year and we have not wavered in our pursuit of these
goals.
About
Sixty Six Oilfield Services,
Inc.
Sixty Six Oilfield
Services is now a third-generation heavy oil field equipment
company founded in Oklahoma in 1959. The Company is focused on
supplying the oil industry with custom drilling rigs, heavy-weight
drill pipe, drill collars, pup joints, pony collars, handling
tools, tubing, casing, blow-out preventers, engines, compressors
and other select equipment to customers world-wide through its
facilities in Oklahoma City, Germany and Dubai. The Company's
services include the sale of new equipment, sale of refurbished and
certified used equipment, as well as rental of oilfield
equipment.
SAFE HARBOR AND
INFORMATIONAL STATEMENT
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), including all statements that are
not statements of among other things: (i) the Company's financing
plans; (ii) trends affecting the Company's financial condition or
results of operations; (iii) the Company's growth strategy and
operating strategy; and (iv) the declaration and payment of
dividends. The words "may", "would", "will", "expect", "estimate",
"anticipate", "believe", "intend" and similar expressions and
variations thereof are intended to identify forward-looking
statements. Investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, many of which are beyond the Company's
ability to control, and that actual results may differ materially
from those projected in the forward-looking statements as a result
of various factors including the risk disclosed in the Company's
reports filed with the SEC. 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:
info@sixtysixoilfield.com
1.347.201.2775
www.sixtysixoilfield.com
Only information that is
publicly available will be provided.
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