03:43 PM EST - High Arctic Energy Services Inc. : announced that it has sold three rigs for net proceeds of $14.0 million U.S. The rigs were not used in the business in 2009 and were part of the assets being actively marketed for sale. As a result, the company believes the sale should not have any impact on operating earnings going forward. The company said the entire sales proceeds will be applied against the Corporation's senior credit facilities. The outstanding balance on the senior credit facilities will be approximately $51.5 million following the pay down. High Arctic Energy Services Inc.
shares T.HWO are trading up $0.05 at $0.20.
