ProSep Inc.
TSX : PRP

ProSep Inc.

November 29, 2010 08:01 ET

ProSep Concludes Milestone Agreement in Saudi Arabia

MONTREAL, QUEBEC--(Marketwire - Nov. 29, 2010) - ProSep Inc. (TSX:PRP), dedicated to providing process solutions to the oil and gas industry, today announced it has signed a collaboration agreement with Bandariyah International Group, a leading supplier to the Saudi Arabian oil & gas and petrochemical industries. This agreement will provide ProSep with a strong local partner to support the Company with its marketing, sales and after sales activities for its produced water, oil and gas treatment technologies in the region.

"Management of oil and water resources are major concerns in Saudi Arabia. After almost two years of testing and field trials in the region, our solutions have proven they can reduce consumption of water and chemicals in the treatment of oil, gas and produced water. With the support of Bandariyah International's extensive network and expertise in introducing new technologies in the Kingdom, ProSep can now actively pursue this promising market" said Jacques L. Drouin, President and CEO.

About Bandariyah International Group

Bandariyah International Group was established over twenty years ago to provide engineering, procurement and other related services to the oil, petrochemical, power and other major industries in Saudi Arabia. Its customers include Saudi Aramco, the different SABIC companies, SEC and the international and local engineering and construction contractors that undertake projects in the country. For more information, please visit www.bandariyah.com.

About ProSep Inc.

ProSep Inc. is dedicated to providing process solutions to the 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.prosepinc.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.

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