Raise Production Inc.
TSX VENTURE : RPC

Raise Production Inc.

August 26, 2015 19:48 ET

Raise Production Inc. Provides Operational Update

CALGARY, ALBERTA--(Marketwired - Aug. 26, 2015) - Raise Production Inc. (TSX VENTURE:RPC) ("Raise" or the "Company") is pleased to provide the following update to its shareholders regarding the results from the current deployment of its Horizontal Wellbore Production System (the "System").

From inception, the Company's primary strategic intent has been to prove its theory that multiple pumps in a horizontal wellbore will increase production, and then to commercialize this improvement. We still believe this theory is sound. We have seen nothing that invalidates this theory to date.

As a follow-up to our last press release, this phase of testing has validated the new replacement part which had compromised previous deployments of the System and operation of the System in the field. We are now confident that this problem has been solved and the replacement part is fully functional and reliable.

Consistent with past practices, the Company has conducted a ninety day test program which is now in the closing phase. Information gained from this deployment has highlighted a limitation in activation mechanics. The Company believes this activation challenge has compromised our testing causing us to see no significant sustained production increase above the established average daily production range for this wellbore. Due to this belief, the Company is currently developing a redesign of this portion of the activation system. The design change is anticipated to take four to six months to develop, test, and redeploy. The changes required are "in-house" design changes, and do not require a third party manufacturer of unique parts. The Company is committed to making these changes as quickly as possible and will provide shareholders with updates in the future as this design change is implemented.

Eric Laing, President & CEO, commented, "We would like to thank our industry partner for its continued support as it has agreed to work with the Company to facilitate a re-deployment of the System once the activation system has been addressed and corrected."

About Raise Production Inc.

The Company is an innovative oilfield service company that focuses its efforts on the production service sector, utilizing its proprietary 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 within predicted timelines or at all, 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 current opinions, estimates, projections, assumptions 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. By its nature, forward-looking information involves numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statement will not occur. These risks and uncertainties include, but are not limited to: the possibility that testing, deployment and commercialization of the System may not be successfully completed for any reason (including the failure to obtain the required approvals from regulatory authorities) and regulatory changes. 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 performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

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