NXT Energy Expands Scope of US Survey for Kerogen and Completes Data Acquisition Operations
09 December 2013 - 10:30PM
Marketwired
NXT Energy Expands Scope of US Survey for Kerogen and Completes
Data Acquisition Operations
Highlights
- Contract expanded by US $0.35 million to a total value of US
$1.47 million
- SFD(R) data acquisition operations have been completed in both
Florida and Texas
CALGARY, ALBERTA--(Marketwired - Dec 9, 2013) - NXT Energy
Solutions Inc. ("NXT Energy" or the "Company")
(TSX-VENTURE:SFD)(OTCBB:NSFDF) announces that its recently
announced SFD® survey contract with Kerogen Exploration
LLC ("Kerogen") has been expanded by US $0.35 million, to a total
value of US $1.47 million.
Kerogen is a private company financed by Riverstone Holdings
LLC, a New York based private equity firm, and operates in Texas
and Florida, holding 100,000 acres in Texas in the Permian Basin
and 125,000 acres in the South Florida basin.
The contract includes separate SFD® surveys in Florida
and Texas, both of which are now completed. The scope of the
Florida survey was expanded during the recent SFD® data
acquisition operations. Interpretation of the SFD® data is
underway, with delivery of the Company's recommendations report on
the two surveys planned to occur in January 2014.
George Liszicasz, NXT's President & CEO noted "We are
pleased that Kerogen chose to expand the initial area covered by
the Florida survey, and that our data acquisition operations went
very smoothly in both states. This project demonstrates one of the
value-added benefits of our SFD® survey system for our
exploration industry clients - a rapid project process, from
planning through execution and delivery. The timing and size of
this pilot survey for Kerogen also fit very well with scheduled
aircraft maintenance, which will now commence".
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.
Specific forward-looking statements include the estimated
timing of completion of the Kerogen survey report.
Investor Relationskin communications inc.604-684-6730 /
1-866-684-6730sfd@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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