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This
morning, Westcorp Energy (WSCE) made a
significant announcement that Total Fluid Solutions Inc. (TFS),
its wholly-owned subsidiary, has signed a master lease agreement
with an oil and gas company with operations in Texas, Kansas and
Wyoming, to use TFS's safe, effective and economical process for
cleaning and separating oil from produced water. Under the terms
of the contract, Wescorp Energy will construct, deploy and operate
up to 256 water remediation units and provide trained technicians
qualified to operate and service the equipment.
Wescorp
Energy (OTCBB: WSCE)
'Oil
& Gas is one of the fastest growing sectors worldwide. As the
developing economies such as China and India experience rapid
growth, the demand for oil and gas skyrockets in tandem.'
For more information on WSCE visit here
Press
Release: Wescorp
Completes Master Lease Agreement for Up to 256 Water Remediation
Units
Each water remediation
unit will be leased to the customer for an initial one year term
on a daily rental fee. The customer has agreed to pay the entire
first year's rental amount for the first unit upon commencement of
construction of that unit.
The lease rates for this contract will provide Wescorp with a full
return of capital expenses and each unit will provide positive
cash flow in less than 12 months. Under the terms of this
contract, there are 5 standard through-put or volume capacity
designs for the water remediation units being 200, 500, 1,000,
2,000 and 5,000 barrels per day (BBLS/day). The daily lease rate
is determined by the through-put capacity of each particular unit,
with rates ranging from $900 to $2500 per day.
"This order for up to 256 of our patented water remediation
units is monumental for Wescorp," commented Mark Norris,
Chairman of Wescorp Energy and former Minister of Economic
Development in the Alberta Provincial Government on the completing
of the lease contract. "The anticipated reoccurring revenue
from these units is expected to allow the company to grow by
quantum leaps.
This technology has been designed and constructed to operate in
oil and gas fields for the life of the producing wells - often as
long as 15 or 20 years. We believe that this large initial order,
primarily based on results from our 2,000 barrel-per-day
commercial test unit, will lead to strong product acceptance by
the industry. By reducing the amount of hydrocarbon in the
produced water, this technology reduces environmental liabilities,
the frequency of service and repairs on disposal and injection
wells, and recovers additional hydrocarbons. Environmentally
conscious companies are winning by reducing operation costs and
increasing operating margins."
How
Are Our Focus Stocks Doing?
Cyberonics
(CYBX) is
up 58% since our introduction
Tetra
Tech (TTEK) is
up 41% since our introduction
Imax
(IMAX) is
up 92% since our introduction
Horsehead
Holding (ZINC) is
up 9% since our introduction
KVH
Industries (KVHI) is
up 2% since our introduction
Wescorp
Energy (WSCE) is
up 8% since our introduction
These profiles and much more available at our site
here.
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