January 23, 2017 6:34 PM ET

Commercial Services and Supplies

Company Overview of Ceiba Energy Services Inc.

Company Overview

Ceiba Energy Services Inc. provides specialized environmental services primarily to the companies involved in the exploration, extraction, and production of oil and natural gas in western Canada. The company owns and operates custom treating, water disposal, and waste fluid disposal and terminalling facilities in Alberta. It offers crude oil emulsion treatment, produced water and waste fluid disposal, and crude oil terminalling and marketing services. The company was formerly known as Cancen Oil Canada Inc. and changed its name to Ceiba Energy Services Inc. in July 2013. Ceiba Energy Services Inc. was incorporated in 2010 and is headquartered in Calgary, Canada.

521–3rd Avenue SW

Suite 910

Calgary, AB T2P 3T3

Canada

Founded in 2010

27 Employees

Phone:

403-262-2783

Fax:

403-263-0603

Key Executives for Ceiba Energy Services Inc.

Interim Chief Executive Officer, Chief Operating Officer and Director
Total Annual Compensation: C$236.1K
Chief Financial Officer and Corporate Secretary
Total Annual Compensation: C$184.1K
Senior Vice President of Sales & Business Development
Total Annual Compensation: C$200.4K
Compensation as of Fiscal Year 2015.

Ceiba Energy Services Inc. Key Developments

Ceiba Energy Services Inc. Announces Opening of the Kaybob Waste Fluid Facility

Ceiba Energy Services Inc. announced that it has completed the commissioning of its Kaybob waste fluid facility, the Company's fourth Class 1B facility. The Kaybob facility is located at 06-35-60-18 W5 or approximately 17 kilometres South East of Fox Creek, Alberta, an area that continues to see active drilling in the current commodity price environment and that generates a significant amount of product for Ceiba's services. The Kaybob location is consistent with Ceiba's strategy of selecting locations in markets that are capacity constrained and offer opportunities for further expansion of waste services.

Ceiba Energy Services Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Provides Earnings Guidance for the Year 2017

Ceiba Energy Services Inc. reported earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported total loss and comprehensive loss of CAD 321,000 against CAD 294,000 a year ago. EBITDA was CAD 343,000 against CAD 134,000 a year ago. Adjusted EBITDA was CAD 546,000 against CAD 499,000 a year ago. Revenue was CAD 2,304,000 against CAD 1,911,000 a year ago. For the nine months, the company reported total loss and comprehensive loss of CAD 1,623,000 against CAD 1,741,000 a year ago. EBITDA was CAD 356,000 against loss of CAD 111,000 a year ago. Adjusted EBITDA was CAD 1,452,000 against CAD 1,046,000 a year ago. Revenue was CAD 6,344,000 against CAD 5,581,000 a year ago. The company expects to see overall revenue growth in 2017 from full year contributions from the Athabasca and Obed facilities and the opening of the Kaybob facility in December 2016.

Ceiba Energy Services Inc. Announces Executive Changes

Ceiba Energy Services Inc. announced that it has initiated a process to identify, examine and consider a range of strategic alternatives available to the Company with a view to enhance shareholder value. The company's Board of Directors has determined that it is timely to evaluate strategic alternatives aimed at enhancing shareholder value. Accordingly, Peters & Co. Limited has been engaged by the Company as its exclusive financial advisor to assist in this comprehensive review and analysis, and a Special Committee of the Board, consisting of directors Brian Petersen (Chair), Ralph Hesje and Ron Sifton, has been formed to oversee this process. In recognition of his efforts the Board of Directors announced that Richard Lane has been appointed Interim Chief Executive Officer ("CEO") of the Company. Mr. Lane will retain the position of Chief Operating Officer of Ceiba and assumes the CEO position which had previously been vacant.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
June 6, 2016
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