March 02, 2015 3:52 PM ET

Commercial Services and Supplies

Company Overview of Ceiba Energy Services Inc.

Company Overview

Ceiba Energy Services Inc. provides specialized services primarily to the companies involved in the exploration, extraction, and production of oil and natural gas in western Canada. The company’s services comprise custom crude oil treatment, including treating third-party oil/water emulsions and production fluids to remove contaminants; Class II fluid disposal services comprising deepwell disposal of produced water and other oilfield waste fluids; and blending and delivering clean oil to market through terminals and pipelines. 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 i...

521 – 3rd Avenue SW

Suite # 910

Calgary, AB T2P 3T3

Canada

Founded in 2010

Phone:

403-262-2783

Fax:

403-263-0603

Key Executives for Ceiba Energy Services Inc.

President, Director and Member of Nominating Committee
Total Annual Compensation: $212.5K
Chief Operating Officer and Director
Total Annual Compensation: $212.5K
Managing Director of Capital Markets, Director and Member of Audit & Governance 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 Third Quarter and Nine Months Ended September 30, 2014

Ceiba Energy Services Inc. announced earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue increased 113% to $1.82 million, as the company continued executing its growth strategy during the quarter. Adjusted earnings before interest, taxes, depreciation, and amortization improved to $492,000, compared to a negative $162,000 in third quarter of 2013, which management attributes to lower general and administrative costs offset somewhat by lower gross margins. Profit was $1.11 million or $0.01 per share against $1.28 million or $0.02 per share a year ago. Cash flow was $2.50 million or $0.02 per share against negative cash flow of $0.91 million or $0.01 per share a year ago. Capital expenditures were $1.23 against $1.82 a year ago. For the first nine months of 2014, the company’s revenue was $4.94 million, which is an increase of 121% from the same timeframe in 2013. Profit was $2.55 million or $0.03 per share against $4.24 million or $0.06 per share a year ago. Cash flow was $0.79 million or $0.01 per share against negative cash flow of $2.99 million or $0.04 per share a year ago. Capital expenditures were $4.51 against $2.15 a year ago.

Ceiba Energy Services Inc. Announces Earnings and Operating Results for the Third Quarter and Nine Months Ended September 30, 2014

Ceiba Energy Services Inc. announced earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of CAD 1,815,000 compared to CAD 853,000 reported in the same period last year. Adjusted EBITDA was CAD 492,000 against adjusted LBITDA of CAD 162,000 reported last year. Total loss and comprehensive loss was CAD 1,110,000 against CAD 1,279,000 reported last year. LBITDA was CAD 468,000 against CAD 807,000 a year ago. The decrease in revenue was a result of higher processed volumes offset by a combination of a drop in recovered oil volumes along with slightly lower realized prices for recovered oil. The increase in Adjusted EBITDA was the result of lower general and administrative costs offset somewhat by lower gross margins. For the nine months, the company reported revenue of CAD 299,000 compared to CAD 101,000 reported in the same period last year. Adjusted EBITDA was CAD 829,000 against adjusted LBITDA of CAD 1,473,000 reported last year. Total loss and comprehensive loss was CAD 2,548,000 against CAD 4,239,000 reported last year. LBITDA was CAD 773,000 against CAD 3,097,000 a year ago. For the quarter, the company reported total received volumes of fluid of 119,000 m3 against 42,000 m3 a year ago. For the nine months, the company reported total received volumes of fluid of 299,000 m3 against 101,000 m3 a year ago.

Ceiba Seeks Acquisitions

Ceiba Energy Services Inc. (TSXV:CEB) (Ceiba) intends to actively pursue suitable locations to develop new facilities in under serviced or constrained markets and evaluate potential acquisitions that are consistent with Ceiba's long-term strategy, Ceiba reported.

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