Jed Wood was in an unfamiliar position Monday: after 12 years of running a private company, he found himself publicizing financial information.

Wood, the president and CEO of High Arctic Energy Services Trust, discussed the income trust's third-quarter results during a conference call with the media and members of the investment community. And some positive numbers likely made this unfamiliar act of disclosure a little easier for Wood.

High Arctic, which began trading on the Toronto Stock Exchange on July 21 (TSX: HWO.UN), posted revenues of $25.2 million for the three-month period ending September 30. That's up 65 per cent from the $15.3 million earned during the same period last year. Revenue for the first nine months of 2005 reached $50.6 million, a 63 pre cent jump over 2004 when revenue was $31.1 million.

The trust's adjusted earnings before interest, taxes, depreciation and amortization for the third quarter was $8.3 million, up 48 per cent from the 2004 July-to-September tally of $5.6 million. Nine-month earnings for this year were $17.3 million, a 154 per cent increase over the first three quarters of 2004.

Distributions to unitholders following completion of High Arctic's initial public offering have totaled $4.3 million. Distributable cash was $8.1 million.

Shaun Peesker, High Arctic's chief financial officer, attributed the strong revenues to an expanded drilling fleet, and the addition of and bundling of services for the trust's clients.

A total of $22.4 million was invested in capital assets during the last quarter, compared with $4.1 million last year.

High Arctic announced in October that it was purchasing 10 per cent of the outstanding shares of EDM/Sense, a Norwegian company it had partnered with to design and manufacture combination rigs.

"I'm very pleased with our results from the third quarter," said Wood during the conference call. He acknowledged that High Arctic has faced labor shortages, but still enjoyed strong growth.

High Arctic provides underbalanced well construction services, including drilling, completion, workover operations and integrated project management.

Units in High Arctic closed Monday at $11.01, down 29 cents.