ProSep Inc.
TSX : PRP

ProSep Inc.

September 26, 2011 08:00 ET

ProSep Announces $1.2 Million Contract Award for Proprietary Crude Desalting Technology

MONTREAL, QUEBEC--(Marketwire - Sept. 26, 2011) - ProSep Inc. (TSX:PRP) ("ProSep" or the "Company"), dedicated to providing process solutions to the oil and gas industry, today announced it was awarded a US$1.2 million contract to supply a leading Latin American oil company with ProSalt mixers. Recent field tests at the customer's facility have shown significant improvements in the desalting process while reducing the need for dilution water and chemical injection.

"We are very excited with this new application for our ProSalt mixers, which reflect the oil industry's growing interest in efficient use of resources, reduction of chemical injection rates, and water conservation issues," said Jacques L. Drouin, President & CEO. "We are currently evaluating the possibility of replacing other traditional mixing valves at this facility by ProSalt in-line mixers. We believe they can significantly reduce salt content in its oil production and improve profitability," said Jacques L. Drouin, President & CEO.

Desalting is a crucial step for crude oil refining processes since both the free water and emulsified water contain salt, which can cause corrosion, leading to failure of critical process equipment. The ProSalt system's efficient, compact, in-line injection and mixing technology holds the key to effective salt content removal, efficient utilization of wash water and chemicals, and improved crude water separability. Besides increased treatment capacity, the technology allows reduced wash water requirements, reduction in oil in water content, low installation costs and provides high returns on investment.

About ProSep

ProSep is a technology-focused process solutions provider to the upstream oil and gas industry. ProSep designs, develops, manufactures and commercializes technologies to separate oil, water and gas generated by oil and gas production. For more information, please visit www.prosep.com.

Caution concerning forward-looking statements

This press release may contain forward-looking statements, including statements regarding the business and anticipated financial performance of ProSep Inc. These statements are based, among others, on the Company's current assumptions, expectations, estimates, objectives, plans and intentions regarding projected revenues and expenses, the economic and industry environments in which the Company operates or which could affect its activities, the Company's ability to attract new clients and consumers as well as its operating costs, raw materials and energy supplies which are subject to a number of risks and uncertainties. Forward-looking statements can generally be identified by the use of the conditional tense, the words "may", "should", "would", "believe", "plan", "expect", "intend", "anticipate", "estimate", "foresee", "objective" or "continue" or the negative of these terms or variations of them or words and expressions of similar nature. Actual results could differ materially from the conclusion, forecast or projection stated in such forward-looking information. These statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those contemplated by the forward-looking statements. Some of the factors that could cause such differences include but are not limited to the Company's ability to develop, manufacture, and successfully commercialize value added equipments and services, the availability of funds and resources to continue its operations and pursue its projects, legislative or regulatory developments, competition, technological change, changes in government and economic policy, inflation and general economic conditions in geographic areas where ProSep Inc. operates. These and other factors should be considered carefully and undue reliance should not be placed on the forward-looking statements.

Contact Information

  • ProSep Inc.
    Investor Relations and Media:
    Danielle Ste-Marie
    VP Marketing and Communications
    (514) 522-5550 ext. 238
    dste-marie@prosep.com