Formation Fluid Management Inc.: News Release
16 Fevereiro 2011 - 5:57PM
Marketwired
Formation Fluid Management Inc. (TSX VENTURE: FFM) ("FFM") is
pleased to announce that the manufacturing and assembly process of
our first commercial unit is still on target for an April
completion. After successfully applying our technology through our
Mobile Test Unit on various sites with Nexen Inc., Stone Mountain
Resources etc., we are very close to completion of the first
commercial unit. The design of the main components is complete and
the engineering department is finalizing specialized water testing
for the pre-filtration unit. The Mobile Treatment Plant will
consist of two modules that will be housed in two independent
trailers. Depending on the outcome of the on-going water testing,
we may add another unit for additional pre-filtration to address
more severely contaminated wastewater.
Our Mobile Treatment Plant will be capable of processing
flowback and produced water at 60m3 per hour and is expected to
deliver the industry's first "Low-Cost" treatment process that can
be ramped up or down to meet different wastewater treatment
demands.
As a Solutions Provider we will be able to customize future
water treatment plants to meet the specific quality and volume
requirements of our most valued customers.
Once our first unit is commissioned and under contract, FFM will
commence manufacturing additional units to service its marketplace.
We expect that our Water Treatment Process will allow us to get
established in the significant wastewater treatment market. We
expect to become the leader in this market due to our unique design
and "Low-Cost" alternative treatment methods. We believe that to
date, the approaches to solving the wastewater problems in the oil
and gas industry have been inadequate.
The Company is on track with executing its business plan as
detailed in its Prospectus filed on June 1, 2010, which is
available on SEDAR.
On behalf of the Board of Directors
Al Radford, President & CEO
FORWARD LOOKING INFORMATION
Certain information in this news release is forward-looking
within the meaning of certain securities laws, and is subject to
important risks, uncertainties and assumptions. This
forward-looking information includes, among other things,
information with respect to the Company's beliefs, plans,
expectations, anticipations, estimates and intentions. The words
"may", "could", "should", "would", "suspect", "outlook", "believe",
"anticipate", "estimate", "expect", "intend", "plan", "target" and
similar words and expressions are used to identify forward-looking
information. The forward-looking information in this news release
describes the Company's expectations as of the date of this news
release.
The results or events anticipated or predicted in such
forward-looking information may differ materially from actual
results or events. Material factors which could cause actual
results or events to differ materially from such forward- looking
information include, among others, risks arising from general
economic conditions and adverse industry events, risks arising from
operations generally, reliance on contractual rights such as
licenses and leases in the conduct of its business, reliance on key
personnel, market acceptance of the Company's products and
services, the need to protect intellectual property and other
proprietary rights, possible failure of the business model or
business plan or the inability to implement the business model or
business plan as planned, fluctuations in the cost of materials,
competition, environmental matters, and insurance or lack
thereof.
The Company cautions that the foregoing list of material factors
is not exhaustive. When relying on the Company's forward-looking
information to make decisions, investors and others should
carefully consider the foregoing factors and other uncertainties
and potential events. The Company has assumed a certain
progression, which may not be realized. It has also assumed that
the material factors referred to in the previous paragraph will not
cause such forward-looking information to differ materially from
actual results or events. However, the list of these factors is not
exhaustive and is subject to change and there can be no assurance
that such assumptions will reflect the actual outcome of such items
or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE
REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS
NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH
DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING
INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY
OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE
TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Formation Fluid Management Inc. Wolf Fiedler Senior
Vice President (403) 550-9027 wfiedler@fftinc.ca
Formation Fluid Management Inc. (TSXV:FFM)
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