NXT Announces Operational Update and Investor Conference Call
12 December 2011 - 10:00PM
PR Newswire (Canada)
CALGARY, Dec. 12, 2011 /CNW/ - NXT Energy Solutions Inc. ("NXT" or
the "Company") , announces progress updates on its various SFD(®)
projects. Colombia: NXT has completed airborne SFD(®) data
acquisition operations on four exploration blocks in Colombia and
expects to receive a progress payment exceeding 50% of the US $3
million contract value before December 31. NXT's Final Report on
the project is expected to be delivered to the client in mid
January, 2012. Argentina: The SFD(®) survey aircraft is currently
redeploying to Argentina to commence a US $1.7 million
project. NXT expects to complete SFD(®) data acquisition in
January, 2012. Guatemala: NXT expects to sign a binding agreement
on the recently awarded US $0.7 million survey contract in December
2011, and plans to commence SFD(®) survey operations for this
project in January, 2012. South Asia: The Company expects final
permitting for the signed US $2.7 million SFD(®) survey contract to
be granted in January, 2012 and is anticipating SFD(®) operations
to commence in Q1, 2012. George Liszicasz, NXT's President &
CEO, noted "I am very proud of our team, their timely execution of
the sizeable Colombia project, and the quality of our growing
client base. Our efforts to expand our presence into key
Latin America markets is gathering momentum and yielding
successes". NXT will be hosting an investor conference call to
discuss its operational updates and plans for the upcoming year at
11 a.m. mountain standard time on Thursday, December 15, 2011.
Callers may dial 1‐ 888‐231‐8191 (Toronto local dial 647‐427‐7450)
and enter conference ID 35279936. In addition, NXT notes that a
number of holders of common share purchase warrants have recently
voluntarily exercised a total of 700,000 warrants at an exercise
price of $0.60 per share ahead of the February 16, 2012 expiry
date. This resulted in proceeds to the Company of $420,000. NXT is
a Calgary based company whose proprietary airborne Stress Field
Detection ("SFD(®)") survey system provides a revolutionary survey
method that can be used both onshore and offshore to remotely
identify potential hydrocarbon traps and reservoirs. NXT
provides its clients an efficient and reliable method to reduce
time, costs, and risks related to exploration surveys. The SFD(®)
survey system enables our clients to more efficiently focus their
hydrocarbon exploration decisions concerning land commitments, data
acquisition expenditures and prospect prioritization onto the areas
with the greatest potential. SFD(®) is environmentally friendly and
unaffected by ground security issues or difficult terrain, and is
the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statements This news release includes
forward-looking statements. When used in this document, words
such as "intended", "anticipate", "expects", "plans" and
"scheduled", are forward-looking statements. Forward-looking
statements are subject to a wide range of risks and uncertainties,
and although the Company believes that the expectations represented
by such a forward-looking statement are reasonable; there can be no
assurance that such expectations will be realized. Any number
of factors can cause actual results to differ materially from those
in the forward-looking statements. Neither the TSX Venture Exchange
nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) nor NASDAQ OTCBB
Exchanges accept responsibility for the adequacy or accuracy of
this release. NXT Energy Solutions Inc. CONTACT:
_________________________________________________________________|Greg
Leavens, VP Finance & CFO |Jeremy Dietz
||________________________________|________________________________||NXT
Energy Solutions Inc. |The Equicom Group
||________________________________|________________________________||505
- 3rd Street SW, Suite 1400 |300 - 5th Avenue SW, 10th Floor
||________________________________|________________________________||Calgary,
Alberta, Canada T2P 3E6|Calgary, Alberta, Canada T2P
3C4||________________________________|________________________________||Tel:
(403) 206-0805 |Tel: (403) 218-2833
||________________________________|________________________________||Fax:
(403) 264-6442 |jdietz@equicomgroup.com
||________________________________|________________________________||nxt_info@nxtenergy.com
|
||________________________________|________________________________||www.nxtenergy.com
|
||________________________________|________________________________|
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