CHC Signs New Contract in Ecuador & Renews Pact in Kuwait

CHC Helicopter has won a new three-year contract award with EnCana for the provision of one Bell 212 helicopter to be based at Tarapoa, Ecuador. This new contract, which commences Nov. 1, 2003, will generate anticipated revenues of approximately CDN $7.4 million over three years. The contract has been awarded jointly with CHC's Ecuadorian partner ICARO SA. The aircraft will be redeployed from CHC's international fleet.

CHC Helicopters International has also been awarded a two-year contract extension with the Kuwait Gulf Oil Company and Aramco Gulf Operations Company Ltd. for the provision of one Bell 212 helicopter to be based in the Persian Gulf. The Bell 212 currently onsite will remain on the contract for the next two years. The contract extension, which commences December 25, 2003, will generate anticipated revenues of approximately CDN$8.1 million over the two-year period.
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