RSS UpdatesCompany Information for Cabo Drilling Corp
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 TSX.V; CBE
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Company Statement
Cabo Drilling Corp. is a mineral and specialty drilling services provider headquartered in North Vancouver, British Columbia. With operations across Canada, Cabo’s growth within the mineral and specialty drilling services sector means improved services, technical capability and geo-graphical reach for its customers.
Cabo’s mission statement is:
To be the first choice for mineral exploration, mining, geoenvironmental/geotechnical & geothermal customers by offering the best value in the drilling services industry.
To be first choice among employees by offering the most stable, safe and rewarding workplace in the drilling services industry.
To be the first choice for investors by consistently generating superior value and providing excellent corporate governance to shareholders and stakeholders.
Going forward into 2009 the Company will:
- Deliver consistent high-quality services based on customer needs.
- Move drills and personnel between the Company’s divisions to take
advantage of new contracts and projects as they arise. - Focus on debt reduction, decreased per unit operating and
administration costs, reduced capital and inventory expenditures and
increasing cash. - Continue to train and build the skills of employees, enabling them to
carry out their jobs in a safe and environmentally sensitive manner.
Current Operations
Cabo Drilling Corp. is a mineral and speciality drilling services company headquartered in North Vancouver, British Columbia.
Cabo provides drilling services through its divisions:
- Cabo Drilling (Atlantic) Corp. of Springdale, Newfoundland
- Cabo Drilling (Ontario) Corp. of Kirkland Lake, Ontario
- Cabo Drilling (Pacific) Corp. of Surrey, British Columbia
- Cabo Drilling de Mexico S.A. de C.V. of Hermosillo, Mexico
- Cabo Drilling (Panama) Corp. of Panama City, Republic of Panama
- Cabo Drilling Spain, SL of Seville, Spain
- Forages Cabo Inc. of Montreal, Quebec
The acquisition of Cabo's divisions has contributed directly to the Company's ability to reach one of its major goals: to become Canada's third largest mineral drilling company.
As a drilling services company, Cabo offers a unique investment opportunity by providing exposure to the mineral exploration and mining sectors without the commensurate risks associated with investing in mineral exploration companies. Additionally, drilling companies are not tied to a single commodity or project but have the ability to capitalize on the market's constant drive to locate new mineral resources.
Additionally, Cabo has expanded its operations into opportune alternative drilling sectors such as geoenvironmental/geotechnical and geothermal drilling. By consolidating through acquisition Cabo has achieved a competitive edge with additional customer services, improved productivity and greater economies of scale. Cabo will continue to align its subsidiaries over the next year to realize the following benefits:
- A reduction in drilling company operating costs; and
- Improved revenue as a result of offering increased services and greater customer awareness.
Services Provided
- Mineral and Specialty Drilling Service Provider
- Diamond Core Drilling
- Directional Drilling
- Surface diamond & reverse circulation drilling
- Overland and fly jobs
- Underground diamond drilling, Electric, hydraulic and air
- Soil sampling
- Dam site investigation drilling
- Slimhole Core Drilling for Oil and Gas Exploration
- Geotechnical
- Geothermal
- Geoenvironmental
- Restricted Access Investigations
WHY INVEST?
- Cabo Drilling has had four years of record annual revenue.
- In fiscal 2008, Cabo achieved its objective of growing its business to $50 million plus, with a particular emphasis on more stable longterm customers.
- Cabo Drilling has expanded its operations internationally and with field operations and offices in seven countries has positioned itself to efficiently “migrate” to meet market demand and needs.
The Company has the ability and expertise to shift its equipment and personnel to best suit market conditions at this time and in the future. - Cabo’s significant international growth is paving the way for further expansion into the USA, Western and Eastern Europe, West Africa and Central America.
- Drilling operations are not tied to a single commodity or project,hence an investor can participate in the upside of many commodities,thereby providing investors with exposure to the mining sector without the commensurate risk.
Geographical Spread
Canada, United States, Mexico, Panama, Liberia and Spain
Board of Directors and Key Management
| Board of Directors | |
| John A. Versfelt | Chairman, President, Chief Executive Officer & Director |
| Terry Aimone | General Manager, Albania Branch & Director |
| Greg Gerrie | Director |
| Frank Nolan | Director |
| Tom Oliver | Director |
| Robin Preston | Director |
| Robert W. Schellenberg | Director |
| Peter Walton | Director |
| Management | |
| John A. Versfelt | Chairman, President, Chief Executive Officer & Director |
| Calvin Lucyshyn | Controller & CFO |
| James Goodwin | Human Resources & Safety Coordinator |
| D. Alex Caldwell | Corporate Secretary |
Company Address3rd Floor
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CapitalShares Issued: 47,767,013
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Annual General MeetingDecember, Vancouver | Year EndJune 30 |
Major Shareholders
| Management of the Company | 21.3% |
| US Newsletter Writer | 4.4% |
| UK Micro Cap Fund | 4.0% |
Related News
02/11/09 - Return Of Confidence At Cabo Drilling As Signed Contracts Increase In All Areas.04/11/08 - Cabo Drilling Shows Resilience, Thanks To The Long-Term Planning Of Its Founder
19/03/08 - Blue Skies Over Cabo Drilling
Most Recent Statement
02/12/09 - Cabo Closes $872K Private Placement12/11/09 - Cabo Increases Private Placement To $870K
30/10/09 - Cabo Announces Annual and Fourth Quarter Results
28/10/09 - Cabo Drilling Corp. Retains Renmark Financial Communications Inc.
01/06/09 - Cabo Announces 3rd Quarter Results
02/03/09 - Cabo Announces 2nd Quarter Results