Wescorp Energy Inc.
OTC Bulletin Board : WSCE

Wescorp Energy Inc.

November 21, 2007 08:58 ET

Wescorp Energy Announces Strong Sales Growth for the 3rd Quarter 2007

HOUSTON, TEXAS AND CALGARY, ALBERTA--(Marketwire - Nov. 21, 2007) - Wescorp Energy Inc. (OTCBB:WSCE), an oil and gas operations solutions company, has filed its Form 10-QSB report for the fiscal third quarter ended September 30, 2007.

Highlights from the quarter include strong sales from Wescorp's Flowstar Technologies measurement and metering division, and the completion of the merger with a Houston-based engineering firm that provides process-driven consulting and services to help oil and gas operators improve the management, economics and environmental performance of field operations.

Third quarter revenues were $1,099,791 compared with $448,041 for the same period in 2006 and compared with $493,622 for the second quarter of 2007. This represents a 145% gain improvement over the same period in 2006 and a 122% increase over the second quarter of 2007.

The increase in revenue is primarily the result of our major customers having robust drilling completion programs, of our having brought to market new products that enhance the communications capabilities of our DCR product line, of utilization of existing client relationships to attract new customers, and of finding new market niches for our existing products.

Revenues for the nine months ended September 30, 2007 were $2,411,395, compared with $2,508,831 for the nine months ended September 30, 2006.

Operating expenses for the third quarter were $2,823,735 versus $1,428,414 for the same period in 2006, an increase of $1,395,321. Operating expenses for the nine months ended September 30, 2007 were $5,097,370 versus $3,798,235 for the nine months ended September 30, 2006, an increase of $1,299,135. Of the increase in operating expenses, $800,000 is attributable to a non-cash expense resulting from completion of the merger between Wescorp Energy and Strategic Decisions Sciences USA Inc. ("SDS"). Because the transaction was with a related party, the accounting value of the consideration paid for SDS, which was $800,000, was expensed as research and development stock based. An additional $300,000 is attributable to a non-cash expense for stock-based wages.

"Sales coverage for the Flowstar DCR systems improved through the hiring of additional direct sales staff and increased exposure to the upstream measurement community. During this third quarter, our efforts were successful in increasing market awareness of our solutions," commented Doug Biles, president and CEO of Wescorp Energy. "Industry conditions are creating increasing opportunity for Wescorp to demonstrate the strength of our product offerings. Gas field operators, including our current customer base, now more than ever require new industry technologies to help reduce operational costs and increase production revenues."

Wescorp's newly announced Oil and Gas Management and Intelligent Field Resource Management solutions enhance the Company's portfolio of oil and gas operations solutions. "Wescorp has always offered some of the most precise metering and measurement tools available in the industry," said Wescorp Chief Operating Officer Dr. Scott Shemwell. "We are now expanding those offerings with consulting and enhanced oil and gas process management services to further optimize field performance. Wescorp's solutions create real value, reducing operational expenses and increasing oil and gas field performance. This results in more efficient operations for our customers, an important advantage in today's resource-constrained field environment."

The net loss for the quarter ended September 30, 2007 was $2,699,705 compared to a net loss of $1,389,925 for the same quarter of 2006. This is a result of the increase in gross profit of $331,620 offset by increases of $1,395,321 in operating expenses and $246,079 in interest, finance, bank charges, travel, advertising, investor/public relations and two stock based consulting contracts. The net loss for the nine months ended September 30, 2007 was $6,368,211 compared to a net loss of $2,886,778 for 2006.

About Wescorp

Wescorp Energy Inc. (www.wescorpenergy.com) is an oil and gas operations solutions company focused on commercializing technologies that overcome tough operations challenges facing oil and gas operators today. Wescorp combines its intellectual capital, oil and gas industry experience, best practices methodologies and its market offerings to deliver these solutions in a timely, economic and environmentally friendly manner.

Wescorp shares currently trade on the NASD.OTC Bulletin Board under the symbol "WSCE".

Safe Harbor Statement

Any statements contained herein that are not historical facts are forward-looking statements, and involve risks and uncertainties. Potential factors could cause actual results to differ materially from those expressed or implied by such statements. Information on the potential factors that could affect the Company's actual results of operations is included in its filings with the Securities and Exchange Commission. These risks may be further discussed in periodic reports and registration statements to be filed by the Company from time to time with the Securities and Exchange Commission in the future.

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