OREANDA-NEWS. June 20, 2011. Integra Group (LSE: INTE), a leading independent provider of diversified oilfield services, released today its Interim Management Statement and unaudited financial highlights for the three months period ended March 31, 2011. The financial data is based on management assessment only and has not been reviewed by external auditors.

Higher volume of offered services in the first three months of 2011 was the main factor contributing to the steady growth in revenues and improvement in Adjusted EBITDA. Pricing factors also had a small positive effect together with continued efficiency improvements in the drilling and IPM services but were offset by increases in energy, fuel and social tax costs and late contracting of seismic services. The period under review was affected by typical seasonality which should be taken into account for sequential comparison.

Following the divestments of the heavy drilling rig manufacturing business in August 2010 and cementing and road construction equipment manufacturing business in April 2011, the financial results of the divested businesses were excluded from the following financial highlights and a corresponding restatement of historical results was made for comparison purposes.

3M 2011 Financial Highlights

Sales increased by 19.6% to USD  223.0 million (vs. USD  186.4 million in 3M 2010)

Adjusted EBITDA1 increased by 3.1% to USD  23.3 million (vs. USD  22.6 million in 3M 2010) Adjusted EBITDA margin was 10.5% (vs. 12.1% in 3M 2010)

Net cash flow provided by operating activities was negative USD  28.1 million (vs. negative USD  15.7 million in 3M 2010)

Capital expenditures were USD  19.7 million (vs. USD  13.9 million in 3M 2010)

Net Debt as of June 15, 2011 amounted to USD  143.6 million (vs. USD  111.7 million as of December 31, 2010)

3M 2011 Operating Highlights

63,507 meters drilled (vs. 33,300 meters during 3M 2010)

669 workover operations conducted (vs. 632 workover operations during 3M 2010)

65 coil tubing operations (vs. 34 operations during 3M 2010)

75 wells completed with directional drilling service (vs. 41 wells during 3M 2010)

207 cementing operations (vs. 161 operations during 3M 2010)

112 downhole motors and 23 turbines produced (vs. 116 downhole motors and no turbines produced in 3M 2010)

401,069 seismic shot points made (vs. 368,334 seismic shot points during 3M 2010).