Kinetex Resources Corporation

Kinetex Resources Corporation

July 07, 2009 17:01 ET

Kinetex Expands on July 6th Announcement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 7, 2009) - Kinetex Resources Corp. (TSX VENTURE:KTX) (the "Company" or "Kinetex") is pleased to update its news release dated July 6, 2009, announcing that its branch in South America while finalizing negotiations has received confirmation to expand its initial request for services by USD $300,000 to an estimated value of $2,300,000 from MPX Energia S.A. ("MPX" or the "Client"), a subsidiary of the EBX Group of Companies, for the supply of integrated seismic imaging and associated exploration services.

The contract provides for exploration services over selected areas of MPX's La Guajira mining permit in Colombia, South America, with initial field work already under progress.

Services will initially consist of the program management, collection, processing and interpretation of a series of high resolution 2D seismic profiles. Upon completion of the initial field operations, Kinetex will assist in the analysis of the survey results and the development of further exploration and development plans, with all additional services to be awarded on the merits of these results.

The objective of the contract is to provide a high-resolution map of structural and stratigraphic features in the subsurface, to delineate coal seam thickness and direction, and to identify possible lithology or fault hazards in preparation for long wall- or open-cut coal mine planning and development.

About MPX Energia S.A.

MPX Energia S.A., an EBX Group company based in Brazil, focuses on the energy sector, with a diversified generation portfolio, maintaining activities in fuel supply, generation and commercialization of energy. MPX operates in such countries as Brazil, Colombia and Chile.

About Kinetex

Kinetex is an oil, gas and mineral exploration services company with offices in Vancouver, BC, Calgary, Alberta and Bogota, Colombia. Through its subsidiaries, Kinetex provides data-rich high resolution subsurface images - essentially a brand-new exploration tool - to the energy, metals and minerals exploration and development industries seeking to go beyond the limitations of traditional data acquisition methods.

The Company seeks safe harbour.

Neither 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.

Contact Information

  • Kinetex Resources Corporation
    Gil Schneider
    Chief Executive Officer
    604-484-5761 or Toll-Free: 1-888-484-5761
    604-484-5760 (FAX)