Aveda Transporation and Energy Services Announces Signing of Definitive Agreement to Acquire Precision Drilling's U.S. Rig

Aveda Transporation and Energy Services Announces Signing of Definitive 
Agreement to Acquire Precision Drilling's U.S. Rig Moving Assets 
FOR: Aveda Transportation and Energy Services 
JUNE 16, 2014 
Aveda Transporation and Energy Services Announces Signing of Definitive
Agreement to Acquire Precision Drilling's U.S. Rig Moving Assets 
CALGARY, ALBERTA--(Marketwired - June 16, 2014) - Aveda Transportation and
Energy Services Inc. ("Aveda" or the "Company") (TSX
VENTURE:AVE), a leading provider of oilfield hauling services and equipment
rentals to the energy industry, today announced that, through its operating
subsidiary in the U.S., it has signed an asset purchase agreement to acquire
Precision Drilling Corporation's ("Precision") U.S. rig moving
assets (the "Acquisition"). Aveda expects to acquire rig moving
equipment, including bed/tandem trucks, tractors, trailers, loaders and cranes,
for total consideration of US$24.0 million. 
Selected assets being acquired include: 
Total Number               
Number    in Aveda's    Percentage 
# of Pieces   Currently in    U.S. Fleet   Increase in 
from the   Aveda's U.S.          Post  Aveda's U.S.
Equipment Type        Acquisition          Fleet   Acquisition         Fleet
Bed/Tandem Trucks              13             34            47           38%
 Tractors                      59             93           152           63%
Trailers                       69            211           280           33%
Cranes                         12              6            18          200%
"This is a very exciting time for Aveda. Through this transaction we are
acquiring a modern and well maintained fleet that shares the same
specifications and equipment configuration as our current U.S. assets,"
said Kevin Roycraft, President and CEO of Aveda. "This will support a
smooth integration into our operations and drive utilization. It also
strengthens our relationship with Precision and we look forward to working with
Precision on internal and customer rig moves in the future. Strategically, this
will further reduce Aveda's reliance on third-party equipment suppliers,
helping to improve margins, and allow us to allocate equipment to both current
and new operating areas to take advantage of high activity levels and further
growth opportunities in certain regions." 
Subject to customary documentation and approvals, the Company expects to close
the Acquisition on July 1, 2014. Aveda expects these assets to be deployed
sometime in the third quarter of 2014. A significant portion of Aveda's
2014 capital expenditure budget is being allocated to the acquisition.
Management intends to increase planned capital expenditures for 2014 with an
eye to funding additional growth initiatives and reducing the Company's
third party costs. 
About Aveda Transportation and Energy Services 
Aveda provides specialized transportation services and equipment required for
the exploration, development and production of petroleum resources in the
Western Canadian Sedimentary Basin and in the United States of America
principally in and around the states of Texas, Pennsylvania and North Dakota.
Transportation services include both the equipment necessary to move the load
as well as a trained, professional driver capable of securing, moving and
manipulating the load at its origin and destination. Aveda's rental
operations include the rental of tanks, mats, pickers, light towers and other
equipment necessary for oilfield operations. 
Aveda was incorporated in 1994 as a private company to serve the oil and gas
industry. In the spring of 2006 the Company went public on the TSX Venture
Exchange. Aveda has major operations in Calgary, AB, Slave Lake, AB, Leduc, AB,
Sylvan Lake, AB, Edson, AB, Mineral Wells, TX, Pleasanton, TX, Midland, TX,
Williamsport, PA, Williston, ND, and Buckhannon, WV. Aveda is publicly traded
on the TSX Venture Exchange under the symbol AVE. For more information on Aveda
please visit www.avedaenergy.com. 
This News Release contains certain forward-looking statements and
forward-looking information (collectively referred to herein as
"forward-looking statements") within the meaning of applicable
Canadian securities laws. All statements other than statements of present or
historical fact are forward-looking statements. Forward-looking statements are
often, but not always, identified by the use of words such as
"anticipate", "achieve", "could",
"believe", "plan", "intend",
"objective", "continuous", "ongoing",
"estimate", "outlook", "expect", "may",
"will", "project", "should" or similar words,
including negatives thereof, suggesting future outcomes. In particular, this
News Release contains forward-looking statements relating to: demand for the
Company's services and general industry activity level; the Company's
growth opportunities; and expectation to maintain revenue and equipment
utilization. Aveda believes the expectations reflected in such forward-looking
statements are reasonable as of the date hereof but no assurance can be given
that these expectations will prove to be correct and such forward-looking
statements should not be unduly relied upon. 
Various material factors and assumptions are typically applied in drawing
conclusions or making the forecasts or projections set out in forward-looking
statements. Those material factors and assumptions are based on information
currently available to Aveda, including information obtained from third party
industry analysts and other third party sources. In some instances, material
assumptions and material factors are presented elsewhere in this News Release
in connection with the forward-looking statements. Readers are cautioned that
the following list of material factors and assumptions is not exhaustive.
Specific material factors and assumptions include, but are not limited to: 
--  the completion of the Acquisition; 
--  the performance of Aveda's businesses, including the Acquisition assets, 
current business and economic trends; 
--  oil and natural gas commodity prices and production levels; 
--  capital expenditure programs and other expenditures by Aveda and its 
--  the ability of Aveda to retain and hire qualified personnel; 
--  the ability of Aveda to obtain parts, consumables, equipment, 
technology, and supplies in a timely manner to carry out its activities;
--  the ability of Aveda to maintain good working relationships with key 
--  the ability of Aveda to market its services successfully to existing and 
new customers; 
--  the ability of Aveda to obtain timely financing on acceptable terms; 
--  currency exchange and interest rates; 
--  risks associated with foreign operations; 
--  changes under governmental regulatory regimes and tax, environmental and 
other laws in Canada and the United States; and 
--  a stable competitive environment. 
Forward-looking statements are not a guarantee of future performance and
involve a number of risks and uncertainties, some of which are described
herein. Such forward-looking statements necessarily involve known and unknown
risks and uncertainties, which may cause Aveda's actual performance and
financial results in future periods to differ materially from any projections
of future performance or results expressed or implied by such forward-looking
statements. These risks and uncertainties include, but are not limited to, the
risks identified in Aveda's annual information form and management
discussion and analysis for the year ended December 31, 2013 (the
"MD&A"). Any forward-looking statements are made as of the date
hereof and, except as required by law, Aveda assumes no obligation to publicly
update or revise such statements to reflect new information, subsequent or
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. 
Aveda Transportation and Energy Services Inc.
Bharat Mahajan, CA
Vice President, Finance and Chief Financial Officer
(403) 264-5769
INDUSTRY:  Energy and Utilities - Oil and Gas , Manufacturing and Production -
Machinery and Tools 
-0- Jun/16/2014 10:30 GMT
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