FirstGrowth Exploration & Development Services Corp.
OTC Bulletin Board : FGCDF

FirstGrowth Exploration & Development Services Corp.

February 21, 2008 08:00 ET

FirstGrowth Announces 2008 Outlook

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 21, 2008) - FirstGrowth Exploration & Development Services Corp. (TSX VENTURE:FGC)(OTCBB:FGCDF)(FRANKFURT:G8Q) (the "Company" or "FirstGrowth") is pleased to provide the following general and operational corporate highlights in regards to its proposed 2008 activity.


FirstGrowth is pleased to provide an overview of its activities and plans for expansion in 2008 for its subsidiary, Kinetex Inc. ("Kinetex"). Kinetex has a number of significant surveys underway in Saskatchewan valued at over $2 million dollars each. Coupled with over $30 million in outstanding solicitations and an existing backlog in excess of $5 million, management is targeting an annual organic growth rate of approximately 30%. With the increasing demand for digital 3C multi-component services, the Company has been broadening its infrastructure over the past year in order to embrace these opportunities.

This infrastructure expansion includes the addition of a fourth digital 3C VectorSeis crew in the first half of 2008. The significant capacity being added will allow Kinetex to address, among other things, senior petroleum clients' requests for large capacity surveys and the ongoing growth seen in both the domestic and international markets. The Company is finding that its geographic and broad market diversity are providing significant opportunities to accelerate its growth rate.

Kinetex currently plans to expand its capacity to operate 5 field data acquisition crews, each equipped with ION Geophysical Inc.'s (formerly Input/Output Inc.) cutting edge VectorSeis® digital 3 component geophysical instrumentation. With continued growth the Company anticipates to exit 2008 with a capacity of 12,000 stations (36,000 channels) of VectorSeis® digital 3C recording equipment. This capacity is scheduled to be assigned as follows;

Crew 101 is currently on assignment in Northern Saskatchewan performing mineral exploration surveys with the ability to perform very large station dynamite and Vibroseis 2D & 3D surveys throughout western Canada.

Crew 102 is a dynamite and Vibroseis 2D and 3D crew currently assigned to the prairie provinces of Saskatchewan and Manitoba maintaining the capability to rapidly redeploy to eastern Canada and the upper United States as seasonality shifts and opportunity demands may require.

Crew 103 is currently being outfitted to offer very large recording capabilities in anticipation of the growing demand for "Full-Wave" exploration and development surveys in the western provinces as well as the western United States for various petroleum clients. Crew design, construction and training continue with a schedule for assignment in North America in the first half of 2008. This crew will have a capacity of 6,000 stations (18,000 channels) of digital 3C recording capability.

Crew 204 continues to operate in South America, with a capacity to complete both high resolution dynamite and Vibroseis 2D and 3D surveys, for both the mineral and petroleum industries.

In addition, a fifth crew is being planned for mobilization to service growing demand in South America.

It should be noted that all of Kinetex's crews use the same recording equipment which gives the company the advantage of mobility and unlimited integration flexibility.

Investors, clients, shareholders and employees are invited to visit the "Current Activities" section at for further details on the Company's current and future developments.

About FirstGrowth

FirstGrowth is an oil, gas and mineral exploration services company focused on providing data-rich high resolution multi-component subsurface images - essentially a brand-new exploration tool - to the resource exploration and development industry. Driven by a proven and experienced management team and using cutting edge technology, FirstGrowth has doubled its revenues for three consecutive years.

FirstGrowth's subsidiary, Kinetex Inc., has been a developer of advanced exploration techniques for over six years as an integrator of applied sciences to the resource industry, including oil & gas exploration and development, and precious and base mineral exploration and evaluation. One of Kinetex's primary services is targeted implementation and optimization of seismic imaging using the proprietary VectorSeis® Recording System and Digital 3 Component Full Wave Imaging.


Gil Schneider

The company seeks safe harbour.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Contact Information