NXT Energy Solutions Inc.
TSX VENTURE : SFD
FRANKFURT : EFW
OTC Bulletin Board : NSFDF

July 15, 2009 09:46 ET

NXT Completes US $2.3 Million Survey for Pacific Rubiales

CALGARY, ALBERTA--(Marketwire - July 15, 2009) - NXT Energy Solutions Inc. (TSX VENTURE:SFD) (OTCBB:NSFDF) (FRANKFURT:EFW) ("NXT" or "the Company") is pleased to announce the completion of the previously announced U.S. $2.3 million SFD Survey in Colombia on June 30, 2009 for a Colombian subsidiary of Pacific Rubiales Energy Corp.(TSX "PRE").

NXT shall recognize this revenue in the second quarter of 2009. To date the Company has received payments of US $1.0 million and the remaining payments are due within 30 days. The Company's balance sheet remains strong, currently holding cash and short term investments of Cdn. $5.5 million with no debt.

NXT is in the business of providing wide-area airborne services to clients utilizing its proprietary SFD Survey System to search for new oil and gas fields. The Company rapidly identifies and ranks prospective areas with sub-surface structure and reservoir potential. Our service provides an efficient, cost effective method for surveying large tracts of land and delivering an inventory of high impact SFD qualified prospects.

Forward-Looking Statements

This news release may include forward-looking statements including opinions, assumptions, estimates and expectations of future prospects for the Company and financial projections. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intend," "may," "project," "plan,", "schedule", "will," "should" and similar expressions are intended to be among the statements that identify forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable; there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, the volatility of oil and gas prices, the ability to implement corporate strategies, the state of capital markets, the ability to obtain financing, changes in the oil and gas industry, operating risks, reserve estimates, changes in general economic conditions and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities.



Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Neither the TSX-Venture nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • NXT Energy Solutions Inc.
    Ken Rogers
    VP Finance and CFO
    (403) 264-7020
    (403) 264-6442 (FAX)
    or
    NXT Energy Solutions Inc.
    Suite 1400, 505 3rd Street, S.W.
    Calgary, Alberta, Canada T2P 3E6
    Email: nxt_info@nxtenergy.com
    Website: www.nxtenergy.com
    or
    The Howard Group
    Dave Burwell
    (403) 221-0915
    (403) 237-8387 (FAX)
    or
    The Howard Group
    Suite 300, 1032 17th Ave. S.W.
    Calgary, Alberta, Canada T2T 0A5
    Email: info@howardgroupinc.com
    Website: www.howardgroupinc.com