Formation Fluid Management Inc.
TSX VENTURE : FFM

July 20, 2011 00:01 ET

Formation Engages Ethos Consulting for Investor Relations

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 20, 2011) - Formation Fluid Management Inc. (the "Company" or "Formation") (TSX VENTURE:FFM) is pleased to announce that it has retained Ethos Consulting Ltd. ("Ethos") to provide strategic marketing and corporate communications services. Under the terms of the agreement, Formation will pay Ethos C$7,500 per month for a three-month initial term. Ethos will assist Formation in opening productive and continuing dialogue with private investors, analysts, brokers, money managers and other financial professionals.

Al Radford, President, Chief Executive Officer of Formation stated, "We are pleased to have Ethos as our partner in an Investor Relations capacity. The Ethos team has a wealth of experience and contacts from within our sector. We look forward to their involvement at this important stage of our growth in addition to continued corporate growth and development."

Based in Vancouver, British Columbia, Ethos Consulting Ltd. (www.ethosir.com) and its principals have assisted numerous North American small-cap corporations gain coverage and recognition within the global investment community. Ethos is owned by Mr. Dan Terrett, Mr. Nick Horsley and Mr. Kevin Beaulieu, investor relations professionals from Vancouver. As of July 20th, 2011, Ethos Consulting Ltd. and its principals, directly and indirectly, own no common shares of Formation.

The agreement with Ethos Consulting Ltd., is subject to TSX Venture Exchange approval.

Formation is also pleased to announce that it has entered into a long-term employment agreement with its Lead Process Engineer, Mr. Mohammed Ibrahim. Mohammed has been responsible for the design and engineering of our commercial scale water processing plant and oversight of its construction. Under the terms of the employment agreement, Mr. Ibrahim will be compensated with a base salary, incentive stock options and bonus payments that will be based on net revenues earned from commercial water treatment systems manufactured by the Company during the term of his employment. We are looking forward to a long and fruitful relationship with Mohammed as he heads up our engineering and research and development divisions.

About Formation

Formation Fluid Technology (Formation Fluids) is the developer and operator of waste water treatment plants that uses a proprietary process to clean waste water. The system is mobile and can be scaled to process any required volume.

This system treats water to meet or exceed CCME Guidelines (Canadian Environmental Quality Guidelines), resulting in reusable water that can be used for:

  • Boilers
  • Frac Water
  • Water Floods
  • Drilling Operations

Servicing a significantly underdeveloped segment within the oil and gas industry, the waste water treatment system can cost effectively deal with produced water issues while satisfying the need to reuse and recycle an increasing valuable resource.

The Company is listed on the TSX-Venture Exchange under the symbol (FFM). For more information, please call Ethos Consulting Toll Free at (1-888-818-1365) or visit www.formationfluid.com.

On behalf of the Board of Directors

Al Radford, President & CEO

FORWARD LOOKING INFORMATION

Certain information in this news release is forward‐looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward‐looking information includes, among other things, information with respect to the Company's beliefs, plans, expectations, anticipations, estimates and intentions. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward‐looking information. The forward‐looking information in this news release describes the Company's expectations as of the date of this news release.

The results or events anticipated or predicted in such forward‐looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward‐ looking information include, among others, risks arising from general economic conditions and adverse industry events, risks arising from operations generally, reliance on contractual rights such as licenses and leases in the conduct of its business, reliance on key personnel, market acceptance of the Company's products and services, the need to protect intellectual property and other proprietary rights, possible failure of the business model or business plan or the inability to implement the business model or business plan as planned, fluctuations in the cost of materials, competition, environmental matters, and insurance or lack thereof.

The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward‐looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward‐looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

THE FORWARD‐LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD‐LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.

Neither the 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.

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