Aeroquest International Limited

Aeroquest International Limited

September 28, 2010 17:05 ET

Aeroquest International Limited (TSX:AQL) Announces the Award of a US$10M U.S. Army Corps of Engineers IDIQ Contract and the Issuance of the Initial Task Orders Under the Contract

TORONTO, ONTARIO--(Marketwire - Sept. 28, 2010) -

Attention business/financial editors and reporters:

Aeroquest International Limited (TSX:AQL) today reported that its aerial geomatics subsidiary, Aeroquest Optimal, Inc., has been awarded an Indefinite Delivery, Indefinite Quantity (IDIQ) Architect-Engineer Services Contract from the U.S. Army Corps of Engineers, St. Louis District. The contract is for a five year period and provides for a maximum of US$10.0M of Task Orders for the provision of photographic mapping and aerial photography services.

Aeroquest is also pleased to announce that it has been awarded its first Task Orders under the contract. Aeroquest Optimal expects to commence data acquisition for these Task Orders in October of 2010 with delivery of final products in 2011.

"We are very pleased to have been awarded this contract," said Roy Graydon, the President and CEO of Aeroquest International, "Aeroquest Optimal has had a long and productive relationship with the St. Louis Corps and we are proud to have the opportunity to continue to provide services under this new five year contract. It is also an important validation of Aeroquest International's strategy to diversify our core airborne geophysics business into complementary and related fields."

While Aeroquest Optimal looks forward to being awarded all or substantially all of this work over the life of the contract, because it is an IDIQ contract there is no guarantee that the entire amount of the contract will be awarded, nor in what periods specific Task Orders might be issued. As a result, Aeroquest does not include the entire amount of such contracts in its publicly reported Contract Backlog numbers. Only duly executed Task Orders appear in Contract Backlog in any given reporting period.

Anyone wishing to learn more about Aeroquest's capabilities in aerial geomatics is encouraged to visit our website, or the parent company website at

About Aeroquest International

Aeroquest International is a global information and technology services company and a leader in the development and operation of airborne geophysics and geomatics survey platforms for the mineral and petroleum exploration, and environmental and infrastructure industries. Through its subsidiary companies Aeroquest Surveys, UTS-Aeroquest, Aeroquest Sensortech and Aeroquest Optimal, Aeroquest International fields a fleet of over two dozen helicopter and fixed wing survey systems and is active around the world. More information about Aeroquest International can be found at

For Investors

This news release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what the Company currently foresees. Discussion of the various factors that may affect future results is contained in the Company's recent filings, available on SEDAR.

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