NXT Energy Announces the Presentation of a New Joint Technical Paper-Results of SFD(R) Survey Show Significant Correlation Wi...
02 December 2013 - 10:30PM
Marketwired
NXT Energy Announces the Presentation of a New Joint Technical
Paper-Results of SFD(R) Survey Show Significant Correlation With
Seismic Data
Highlights:
- New Joint Technical Paper presented to industry by Pakistan
Petroleum Ltd.
- Integration study results show significant correlation between
SFD® anomalies and prospective areas evaluated using 2D seismic
data
- Confirmation of successful risk management by combining SFD®
and Seismic to explore in frontier areas
- Survey demonstrates that SFD® technology is capable of
detecting geological structures that could act as fluid traps
- Joint Technical Paper attracting new clients and opportunities
in the region
CALGARY, ALBERTA--(Marketwired - Dec 2, 2013) - NXT Energy
Solutions Inc. ("NXT Energy" or the "Company")
(TSX-VENTURE:SFD)(OTCBB:NSFDF) announces that the results of
another of its SFD® aerial surveys has been formally presented by
one of its major exploration clients, showing strong correlations
with seismic data.In December 2012.NXT flew an aerial SFD® survey
for Pakistan Petroleum Ltd. ("PPL", one of the national oil
companies ("NOCs") of Pakistan) The survey was flown in the
Balochistan basin which represents a pure frontier area and which
has previously had no existing seismic or other geophysical data
coverage. As part of its exploration program, with the SFD® survey,
PPL also acquired extensive 2D seismic data over a large portion of
the lands which were part of the SFD® survey.
Subsequent to the aerial survey, an integration of the
interpreted seismic data with the SFD® anomalies was undertaken by
PPL in mid 2013. The results of the correlations seismically
identified anomalies which were formally presented as a Joint
Technical Paper (the "PPL Paper") on November 26, 2013 by PPL at
the Pakistan Annual Technical Conference ("ATC") held in Islamabad.
The ATC is Pakistan's premiere annual forum for the showcasing of
new technologies and exploration concepts being applied.
George Liszicasz, President and CEO of NXT Energy noted, "We
are proud that PPL, like PEMEX, is another NOC who are showcasing
the highlights of our SFD® survey project
results. The cooperation on the part of government officials was
exceptional and we have found the geoscientists at PPL and other
E&P companies who are active in the region to be very
knowledgeable and supportive."
Selected highlight excerpts from the PPL Paper, which is
available for download and review on NXT's website:
www.nxtenergy.com are:
- "The study presents a case where integration of the SFD survey
and 2D seismic has helped in mitigating the risk associated with
trap failure."
- "NXT has identified and ranked a total of twenty one SFD® lead
areas; FIVE primary, TWELVE secondary and FOUR tertiary in the
Kharan Forearc Basin, which required seismic to map the
traps."
- "The integration results show significant correlation between
SFD® anomalies and prospective area evaluated using seismic and
geological data sets.
- "The results demonstrate that SFD® technology is capable of
detecting geological structural elements in Kharan Forearc Basin
area that could act as fluid traps."
- "SFD® does recognize the major traps and also provides
indications of faults".
- "The SFD® data is very useful in high-grading the areas when
used in conjunction with regional geology and geophysics to
minimize the risk associated with the trapping of reservoir".
- "While SFD® is a very powerful reconnaissance tool for wide
area exploration it is not limited to this application. Once the
other datasets including seismic results, are integrated with the
SFD® results, it becomes a verifying tool and may be used to
high-grade the prospective trap areas.
- "The use of SFD® as an independent tool can help reduce the
exploration risk."
Mr. Liszicasz added further "exploration, especially in new
frontiers, also about risk reduction. We surveyed a large,
unexplored frontier area, where the closest well drilled is 500 km
away, and delivered our SFD® recommendations within four months.
Our client's study demonstrated key concepts of SFD®, its
application in various geological settings, and most importantly,
its correlations with seismic data sets. The creation and
presentation of technical case studies aids us in showcasing
growing industry use of SFD® as an integral, value-added tool in
large-scale frontier exploration programs. The results of our PPL
survey are generating new interest from additional NOCs who are
active in the South Asia region".
The Company also advises that at its Annual General Meeting
("AGM") of shareholders which was held on October 17, 2013, all
matters which were presented for voting were approved. This
included matters related to amendments of both the Company's
Articles and its By-laws, as were specified in the Information
Circular for the AGM.
NXT Energy Solutions Inc. is a Calgary based company whose
proprietary Stress Field Detection ("SFD®")
survey system provides an effective and reliable method to reduce
time, costs, and risks related to hydrocarbon exploration. The
SFD® system utilizes quantum-scale sensors to
detect gravity field perturbations in an airborne exploration
survey method. SFD® can be used both onshore and
offshore to remotely identify areas with exploration potential for
traps and reservoirs, and enables our clients to focus their
hydrocarbon exploration decisions concerning land commitments, data
acquisition expenditures and prospect prioritization on 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 may include forward-looking statements.
When used in this document, words such as "intends", "plans",
"anticipates", "expects" 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 forward-looking statements 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.
Risk factors facing NXT are described in its most recent MD&A
for the year ended December 31, 2012 which has been filed
electronically by means of the System for Electronic Document
Analysis and Retrieval ("SEDAR") located at www.sedar.com. Such
forward-looking statements are made as at the date of this news
release, and the Company assumes no obligation to update or revise
them, either publicly or otherwise, to reflect new events,
information or circumstances, except as may be required under
applicable securities law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) nor the OTC Exchange accept responsibility for
the adequacy or accuracy of this release.
kin communications inc.Investor
Relations604-684-67301-866-684-6730sfd@kincommunications.comwww.kincommunications.comNXT
Energy Solutions Inc.Greg LeavensV-P Finance &
CFO403-206-0805NXT Energy Solutions Inc.George LiszicaszPresident
& CEO403-206-0800www.nxtenergy.com
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