ProSep Inc.
TSX : PRP

ProSep Inc.

February 21, 2011 08:00 ET

ProSep to Supply $2.6 Million of Spare Parts to Existing Customer

MONTREAL, QUEBEC--(Marketwire - Feb. 21, 2011) - ProSep Inc. (TSX:PRP) ("ProSep" or "the Company"), dedicated to providing process solutions to the oil and gas industry, announces it was awarded a $2.6 million contract to supply spare parts associated with a CO2 gas treatment plant, to a large independent North-American customer. 

"We have recently expanded our engineering team to better serve the North and South American market. I am happy to see that this investment is allowing us to strengthen our position and maintain strong customer relationships," said Jacques L. Drouin, President & CEO.

The modularity of ProSep's gas membrane technology allows producers to quickly expand their gas treatment capacity, while reducing opportunity costs associated with reduced oil and gas production. ProSep's membrane technology is also an environmentally friendly, cost-effective alternative to solvent-based treatment systems used for gas conditioning and enhanced oil recovery operations.

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.

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