Canadian Oilfield Solutions Corp. Announces Intention to Restate 2012 Interim Financial Reports and Delayed Filing of 2012

Canadian Oilfield Solutions Corp. Announces Intention to Restate 2012 Interim 
Financial Reports and Delayed Filing of 2012 Annual Financial
Report 
CALGARY, ALBERTA -- (Marketwired) -- 04/25/13 -- Canadian Oilfield
Solutions Corp. (TSX VENTURE:OTS) (the "Company") announces that it
intends to restate and re-file its interim financial reports and
management's discussion and analysis as at and for the interim
periods ended March 31, 2012, June 30, 2012 and September 30, 2012
(the "2012 Interim Filings"). As a result of the re-statement, the
Company anticipates that the filing of the Company's audited annual
financial statements and management's discussion and analysis as at
and for the year ended December 31, 2012 (the "2012 Annual Filings")
will be delayed beyond the April 30, 2013 filing deadline. 
The Company has determined that, based on its own review and
according to the recommendation of its advisors, that it will restate
its 2012 Interim Filings. The basis for the restatement relates to
the reporting for the Company's Mexican construction business, which
is included in the reporting segment referred to as "Pipes and
Service". In accordance with IAS18, the Company has determined that
certain of its reported gross revenues and cost of sales, from the
Mexican construction business, are more appropriately combined and
reported as net revenue. Accordingly, the Company advises that the
presentation of gross revenue and costs of sales, individually, as
presented in the 2012 Interim Filings should not be relied upon. 
The Company's board of directors, audit committee and management are
focused on working diligently with their advisors to more
specifically quantify and complete the restatements required in the
2012 Interim Filings. Upon completion of these efforts, the Company
will re-file its 2012 Interim Filings and, concurrently therewith or
thereafter, will file its 2012 Annual Filings. 
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release. 
Contacts:
Canadian Oilfield Solutions Corp.
Ken Berg
President and Chief Executive Officer
(403) 543-0060
(403) 543-0069 (FAX)
kberg@cotsoilfield.com
www.cotsoilfield.com 
For investor relations please contact
Working Capital Corporation
Tony Nunziata
(403) 560-7040
www.workingcapitalcorp.com
 
 
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