ProSep Inc.
TSX : PRP

ProSep Inc.

February 06, 2012 08:00 ET

ProSep Announces $4.5 Million Gas Treatment Contract Award in South East Asia

MONTREAL, QUEBEC--(Marketwire - Feb. 6, 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 a contract from a repeat customer valued at $4.5 million for the supply of a large fuel gas treatment system for an offshore oil field located in South East Asia. Delivery is expected to occur during the second half of 2012.

"By building on the strength of our gas treatment expertise, we've established ourselves as a leading process equipment provider in the region. We have a strong customer base, growing order backlog and ambitious plans to continue expanding our market reach in this fast growing market," said Jacques L. Drouin, President & CEO.

ProSep's fuel gas treatment systems are engineered to deliver clean liquid- and solid-free natural gas. These systems are ideal for gas turbines where severe damage due to low-quality gas may otherwise occur. ProSep supplies complete packages for the provision of clean, dry and metered gas at the required temperature and pressure. Our customized fuel gas systems are reliable, safe and tailored to suit customer requirements. This specific system will have a total capacity of approximately 29 MMSCFD.

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