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May 05, 2015 10:47 AM 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 facilities in Alberta. It offers crude oil emulsion treatment, clean oil terminalling, storage and marketing of crude oil, and produced water and waste fluid processing and disposal 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

26 Employees

Phone:

403-262-2783

Fax:

403-263-0603

Key Executives for Ceiba Energy Services Inc.

President and Director
Total Annual Compensation: $212.5K
Chief Operating Officer and Director
Total Annual Compensation: $212.5K
Managing Director of Capital Markets, Director, Member of Corporate Governance Committee and Member of Audit Committee
Age: 47
Total Annual Compensation: $172.5K
Senior Vice President of Sales and Business Development
Total Annual Compensation: $185.0K
Compensation as of Fiscal Year 2013.

Ceiba Energy Services Inc. Key Developments

Ceiba Energy Services Inc. Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Ceiba Energy Services Inc. announced earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenue of $1,836,000 against $791,000 a year ago. Adjusted EBITDA was $62,000 against negative adjusted EBITDA of $42,000 a year ago. Net loss was $10,264,000. LBITDA was $9,437,000 against $2,614,000 a year ago. For the year, the company reported revenue of $6,779,000 against $3,032,000 a year ago. Adjusted EBITDA was $890,000 against negative adjusted EBITDA of $1,827,000 a year ago. Net loss and comprehensive loss was $12,812,000 or $0.13 basic and fully diluted per share against $7,581,000 or $0.11 basic and fully diluted per share a year ago. LBITDA was $10,210,000 against $5,712,000 a year ago.

Ceiba Energy Services Inc. Enters into a $15,000,000 Credit Facility Commitment Letter with Alberta Treasury Branches

On March 26, 2015, Ceiba Energy Services Inc. entered into a $15,000,000 credit facility commitment letter with ATB. A $5,000,000 revolving credit facility is immediately available. The revolving facility has an interest rate of prime plus 160 basis points per annum and a stand-by fee of 40 basis points per annum on the amount available. The revolving facility is due on demand with no set maturity date. A $10,000,000 term credit facility is available when Ceiba achieves certain income milestones. The term credit facility has an interest rate of prime plus 175 basis points per annum and a stand-by fee of 40 basis points per annum on the amount available. The term credit facility provides for monthly interest only payments. The term credit facility matures on May 31, 2016 unless extended at the option of ATB.

Ceiba Energy Services Mulls Acquisitions

Ceiba Energy Services Inc. (TSXV:CEB) is seeking acquisitions. Ceiba Energy Services said in year-end and 2014 fourth quarter financial results, “Ceiba's revised growth strategy includes to Continue to pursue acquisitions, especially from entities that may be facing financial difficulties in the low commodity price environment.”

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