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SCIDEV LTD — Capital/Financing Update 2020
Sep 24, 2020
65761_rns_2020-09-24_c6a8ac76-9405-489e-b8ed-25a331694eaf.pdf
Capital/Financing Update
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Unit 1 8 Turbo Road Kings Park NSW 2148 Australia ABN 25 001 150 849
Email: [email protected] Website: www.scidev.com.au ASX code: SDV
Companies Announcements Office Australian Stock Exchange
25 September 2020
Strong Recovery in US Oil & Gas Sector
SciDev Limited (ASX:SDV SciDev , or the Company ) is pleased to provide a further update on activity levels within the US oil & gas sector (refer ‘Activity Levels Returning in US Oil Sector’ 1[st] September 2020).
Highlights
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US Oil & Gas sector is continuing to recover from the market decline experienced in early CY 2020 increasing demand for Highland Fluid Technology (HFT) chemistry and professional services.
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As a result, HFT is now on track to deliver >A$3m of revenue for Q1 FY21, previous guidance was >A$2m of revenue for Q1 FY21.
Commenting on the oil and gas sector recovery and accelerating HFT revenues, SciDev Managing Director and Chief Executive Officer, Lewis Utting, said: “ It is great to see a recovery in the oil and gas sector and the hard work of the team translate to business outcomes so soon after our last update. Our decision to move into oil and gas through Highlands is now starting to deliver the outcomes we envisaged. Having weathered recent challenges in the oil and gas sector we are now in a strong position to capitalise on growth in this significant market.”
This release has been approved by the SciDev Board.
On behalf of SciDev Ltd
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Lewis Utting Managing Director and CEO
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Heath Roberts Company Secretary
For Further Information:
Corporate
Investors
Lewis Utting - Managing Director & CEO Heath Roberts - Company Secretary (+61) 02 9622 5185
Craig Sainsbury – Market Eye [email protected] 0428 550 499
About SciDev
SciDev is a leader in the development and application of services, chemistry and process control for solids-liquid separation. SciDev brings together world-class technology, chemistry, management and manufacturing capabilities to solve pressing operational and environmental issues for the Mining, Water Treatment, Oil & Gas and Construction markets.
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