ProSep Inc.
TSX : PRP

ProSep Inc.

March 12, 2012 08:00 ET

ProSep Announces $2.5 Million in Contract Awards From Repeat Customers

MONTREAL, QUEBEC--(Marketwire - March 12, 2012) - ProSep Inc. (TSX:PRP) ("ProSep" or the "Company"), dedicated to providing process solutions to the oil and gas industry, today announced it was awarded multiple contracts from existing customers, for a total value of $2.5 million. These awards include a bulk oil degasser for an offshore facility in the Gulf of Mexico, membrane supplies for a natural gas treatment system operating in South America and crude separation internals for a customer established in Western Canada. All deliveries are all expected to occur in 2012.

"We are delighted to continue supporting our growing number of repeat customers. Our approach to building long-term relationships resides in our ability to design efficient solutions, offer unique proprietary technologies, provide value-added services and aftermarket support," said Jacques L. Drouin, President & CEO.

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