ProSep Inc.
TSX : PRP

ProSep Inc.

May 17, 2010 07:00 ET

ProSep to Supply US$2.2 Million Produced Water Treatment Package in South East Asia

MONTREAL, QUEBEC--(Marketwire - May 17, 2010) -  ProSep Inc. (TSX:PRP), dedicated to providing process solutions to the oil and gas industry, today announced that it was awarded a contract to supply a 75,000 barrel per day (BPD) produced water treatment package for installation on an offshore facility in the South China Sea. Delivery is expected to occur during the first quarter of 2011. For commercial reasons, no further details have been provided.

"South East Asia has become a key growth region for ProSep," said Jacques L. Drouin, President and CEO. "We will continue to expand our produced water offering in this region and elsewhere, as we believe that our water treatment expertise will be a significant driver for the Company."

The produced water treatment package is designed using ProSep's induced gas flotation (IGF) process, a highly-efficient, motion-insensitive vessel ideal for space limited applications. It efficiently removes small particles of oil contaminants from produced water, allowing oil and gas producers to meet specifications for reinjection or regulatory requirements for overboard discharge.

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.

Contact Information

  • ProSep Inc.
    Patrice Daignault
    CFO and Corporate Secretary
    514-522-5550 ext. 235
    pdaignault@prosepinc.com
    or
    Investor and media contact
    Danielle Ste-Marie
    Director Marketing and Communications
    514-522-5550 ext. 238
    dste-marie@prosepinc.com