|
CALGARY,
ALBERTA--(Marketwire - Oct. 26, 2009) - NXT Energy Solutions Inc. (TSX
VENTURE:SFD) (OTCBB:NSFDF) (FRANKFURT:EFW) ("NXT" or
"the Company") is pleased to announce the execution of a
contract with a new client, a Colombia-based international oil and gas
company, to conduct an SFD(TM) survey in Colombia. The contract calls
for NXT to complete a U.S. $576,000 survey and to provide the client an
option to receive a second survey for an additional U.S. $360,000. In
addition the client shall pay a fee for the mobilization of the
aircraft.
NXT and Air Partners are preparing for an immediate aircraft ferry
flight from Canada to Colombia. SFD(TM) surveys are planned to commence
in Colombia in the first week of November with completion scheduled in
2009.
"This new contract reaffirms that SFD(TM) is becoming recognized
as a solution to overcome the significant onshore exploration
challenges facing many oil and gas companies," says George
Liszicasz NXT's CEO and President. "We are confident that our
success in Colombia has opened up an exciting new stage in NXT's
business development."
NXT is in the business of providing wide-area airborne services to
clients utilizing its proprietary SFD(TM) Survey System to search for
new oil and gas fields. The Company rapidly identifies and ranks
prospective areas with sub-surface structure and charged reservoir
potential. Our service provides an efficient, cost effective method for
surveying large tracts of land and delivering an inventory of high
impact SFD(TM) qualified prospects.
Neither the TSX Venture Exchange nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may include forward-looking statements including
opinions, assumptions, estimates and expectations of future prospects
for the Company and financial projections. When used in this document,
the words "anticipate," "believe,"
"estimate," "expect," "intend," "may,"
"project," "plan,", "schedule",
"will," "should" and similar expressions are
intended to be among the statements that identify 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 important factors could cause actual results to
differ materially from those in the forward-looking statements
including, but not limited to, the volatility of oil and gas prices,
the ability to implement corporate strategies, the state of capital
markets, the ability to obtain financing, changes in the oil and gas
industry, operating risks, reserve estimates, changes in general
economic conditions and other factors more fully described from time to
time in the reports and filings made by the Company with securities
regulatory authorities.
Neither the TSX-Venture nor NASDAQ OTCBB Exchanges accept
responsibility for the adequacy or accuracy of this news release.
|