ProSep Inc.
TSX : PRP

ProSep Inc.

October 07, 2009 07:00 ET

ProSep to Supply US$13 Million Gas Treatment System to Ecopetrol

MONTREAL, QUEBEC--(Marketwire - Oct. 7, 2009) - ProSep Inc. (TSX:PRP), dedicated to providing process solutions to the oil and gas industry, today announced it was awarded a US$12.9 million contract to supply a CO2 gas separation membrane package to Ecopetrol S.A., Colombia's state-owned Oil and Gas exploration and production company. The system, expected to be delivered during the second half of 2010, is designed to treat large volumes of natural gas and will be installed at the Cupiagua field in the Los Llanos foothills of Colombia.

"This contract, for the delivery of a large scale gas membrane package, represents an important milestone for the Company. Our reputation in process engineering and experience are opening new doors in promising markets. We are proud to add Ecopetrol to our growing list of international clients," said Jacques L. Drouin, President and CEO of ProSep Inc. "Our Houston-based team's extensive experience in gas treatment, our new state-of-the-art 55,000 square foot fabrication facility and high quality solutions are central to ProSep's value proposition."

ProSep's membrane technology is an environmental friendly, cost-effective alternative to solvent-based treatment systems used for gas conditioning and enhanced oil recovery operations. This specific system is designed to provide treatment capacity ranging from 164-252MMscfd inlet and 140-210MMscfd outlet at less than 1.9% CO2.

About ProSep Inc.

ProSep Inc. is dedicated to providing process solutions to the oil and gas industry. ProSep designs, develops, manufactures and commercializes technologies to separate oil, water and gas generated by oil and gas production. For more information, please visit www.prosepinc.com.

Caution concerning forward-looking statements

This press release may contain forward-looking statements, including statements regarding the business and anticipated financial performance of ProSep Inc. These statements are based, among others, on the Company's current assumptions, expectations, estimates, objectives, plans and intentions regarding projected revenues and expenses, the economic and industry environments in which the Company operates or which could affect its activities, the Company's ability to attract new clients and consumers as well as its operating costs, raw materials and energy supplies which are subject to a number of risks and uncertainties. Forward-looking statements can generally be identified by the use of the conditional tense, the words "may", "should", "would", "believe", "plan", "expect", "intend", "anticipate", "estimate", "foresee", "objective" or "continue" or the negative of these terms or variations of them or words and expressions of similar nature. Actual results could differ materially from the conclusion, forecast or projection stated in such forward-looking information. These statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those contemplated by the forward-looking statements. Some of the factors that could cause such differences include but are not limited to the Company's ability to develop, manufacture, and successfully commercialize value added equipments and services, the availability of funds and resources to continue its operations and pursue its projects, legislative or regulatory developments, competition, technological change, changes in government and economic policy, inflation and general economic conditions in geographic areas where ProSep Inc. operates. These and other factors should be considered carefully and undue reliance should not be placed on the forward-looking statements.

Contact Information