CriticalControl Solutions Corp.
TSX VENTURE : CCZ

CriticalControl Solutions Corp.

July 04, 2005 12:22 ET

CriticalControl Acquires Netflow, Enhancing ScanGas Functionality

CALGARY, ALBERTA--(CCNMatthews - July 4, 2005) - CriticalControl Solutions Corp., ("CriticalControl" or the "Company") (TSX Venture:CCZ) is pleased to announce that it has acquired Netflow from Prologic Controls Ltd. ("Prologic"), subject to regulatory approval. Netflow is an internet based application enabling oil and gas producers to access real time information from the wellsite. Neflow is currently being used by some of Canada's largest oil and gas producers to enable the electronic capture of gas measurement information from the field.

CriticalControl's proprietary ScanGas application is currently the industry leader in the capture, analysis and reporting of gas measurement information from gas charts. Netflow immediately enables ScanGas to electronically capture this information making CriticalControl the pioneer in being able to provide all of a gas producer's critical gas volume information from a single application. Existing Netflow clients will now have access to ScanGas' verification, historic analysis and trending capabilities.

Netflow's architecture is advantageous in that it can integrate into leading third party electronic flow measurement devices, without the costly installation of proprietary flow meters. Polling of information by Netflow can be enabled by radio, cellular or satellite, depending on a client's needs. Another of Netflow's advantages include the functionality to communicate and control different devices at the wellsite, providing the basis of low cost field automation.

The purchase price for Netflow consisted of $500,000 cash and 2,000,000 shares of CriticalControl. The shares carry a four month hold period.

About CriticalControl:

CriticalControl is a technology company that builds, implements and manages critical business process solutions. Our proprietary products are data management tools to operate the critical business operations of our government and energy sector clients. In addition to our proprietary products, we implement large scale document and records management solutions using our strong domain expertise and in depth knowledge of our customer base. Where critical processes require unconditional continuity, our clients look to us to manage and perform certain operational functions on a short term or long term, outsourced basis. For more information, please visit www.criticalcontrol.com.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • CriticalControl Solutions Corp.
    Mr. George Watson
    Chief Executive Officer
    (403) 705-7500
    or
    CriticalControl Solutions Corp.
    Mr. Alykhan Mamdani
    President
    (403) 705-7500
    Website: www.criticalcontrol.com