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British Columbia

By OGJ editors
HOUSTON, Apr. 28
-- Black Diamond Group Ltd., Calgary, said its Black Diamond Dene LP has secured a 36-month rental commitment with a major Canadian oil and gas company for a 418-person camp in the Horn River area of Northeastern British Columbia.

First phase, due completion in October 2010, will have 264 beds with both executive and dorm-style accommodations, a state-of-the-art kitchen, and modern recreation facilities.

The construction and installation contract value for phase one is $9 million and the anticipated future development of phase two $4 million. Phase two will be completed by March 2011.

The Cabin Lakes site is at kilometer 39.5 Komie Road in the remote Horn River basin near Fort Nelson BC.

Black Diamond owns and operates another fully-occupied lodge in the basin that will undergo a 165-bed/5 dorm expansion this spring, with completion set for June 2010 and have a 36-month guaranteed rental term. The Horn River Lodge, at kilometer 90 Komie Road, opened in the fourth quarter of 2008 and now houses 518 workers. The $3.5 million expansion will bring the lodge’s asset value to $20 million.


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