Raise Production Inc.
TSX VENTURE : RPC

Raise Production Inc.

April 14, 2015 18:06 ET

Raise Production Inc. Provides Operational Update

CALGARY, ALBERTA--(Marketwired - April 14, 2015) - Raise Production Inc. (TSX VENTURE:RPC) ("Raise" or the "Company") is pleased to provide an operational update regarding its Horizontal Wellbore Production System (the "System").

During the month of March, the Company received the latest iteration of the part that had caused previously disclosed malfunctions in the System during test deployments. This new part has been performing successfully for over three weeks in an accelerated performance test facility that closely resembles actual wellbore conditions. This test period equates to almost 70 days in actual field time. The part is the first to be received and pass initial quality control and testing protocols and is performing as required under functional conditions.

In early April, the Company received an identical part from an alternate supplier using a different manufacturing process. This part has also passed initial quality control and testing, and is now undergoing extended testing under functional conditions at the Raise facility. This test has been ongoing for a number of days.

The manufacturers of both parts, although using different processes, now have the ability to produce parts that are repeatable and consistent to standards required for field operations.

The Company will continue to test both samples over the ensuing weeks in the test chambers and upon successful completion of these tests, the System will be readied for deployment into the industry partner test wellbore.

The Company will continue to inform shareholders of its progress and deployment plans for the System.

About Raise Production Inc.

The Company is an innovative oilfield service company that focuses its efforts on the production service sector, utilizing its patented products to enhance and increase ultimate production in both conventional and unconventional horizontal oil and gas wells.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Certain information included in this news release constitutes forward-looking statements under applicable securities legislation. Forward-looking statements or information typically contain or can be identified by statements that include words such as "anticipate", "assume", "based", "believe", "can", "continue", "depend", "estimate", "expect", "forecast", "if", "intend", "may", "plan", "project", "propose", "result", "upon", "will", "within" or similar words suggesting future outcomes or statements regarding an outlook. Such forward-looking statements or information are based on a number of assumptions that may prove to be incorrect. Assumptions have been made regarding, among other things: the ability of the Company to obtain required capital to finance its new product development, the successful completion of further product development and testing, the ability to commercialize products and operations, the ability to adequately protect proprietary information and technology from its competitors; the ability to obtain partnering opportunities; the ability to attract and retain key personnel and key collaborators; and the ability to successfully compete in targeted markets.

The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to publicly update or revise any of the included forward-looking statements, except as required by applicable Canadian securities law. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in some cases, information supplied by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and that information received from third parties is reliable, it can give no assurance that those expectations will prove to have been correct. Forward-looking statements are subject to certain risks and uncertainties that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Accordingly, readers should not place undue reliance upon the forward-looking statements contained in this news release and such forward-looking statements should not be interpreted or regarded as guarantees of future outcomes.

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