NXT News
CALGARY, ALBERTA, December 19, 2011 - NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSXV: SFD; NASDAQ-OTCBB:NSFDF), announces that it has signed a binding contract to conduct a US $700,000 SFD® survey in Guatemala. The contract involves one of Latin America’s largest oil and gas exploration and production companies.
“The finalization of this contract represents another step towards executing against our $8.9 million
backlog of contracts,” said NXT President and CEO, George Liszicasz. “The opportunity to conduct this
survey in Guatemala allows NXT to grow its presence in the Latin American market by entering a new
jurisdiction with a new client that has partnered with one of NXT’s repeat customers on this project.”
The Guatemala contract relates to a letter of intent, previously announced on June 30, 2011, that
spanned six separate contracts. Five of these contracts have now been signed and NXT is in process of
finalizing the terms of the sole, remaining contract that has an additional revenue value of US $1 million.
NXT’s contracts provide for progress billings in phases, including a significant portion for initial set-up and
mobilization.
In summary, the status of NXT’s current $8.9 million in contract backlog is as follows:
| Colombia (four contracts signed, data acquisition operations completed) | $ | 2.9 |
| Argentina (contract signed, operations underway) | 1.6 | |
| Guatemala (contract signed, operations to commence in January 2012) | 0.7 | |
| South-east Asia (contract awarded, awaiting final regulatory clearance)___________ | 2.7 | |
| Total signed contracts | 7.9 | |
| Colombia(contract pending finalization)_____________________________________ | 1.0 | |
| Total - US $ millions | 8.9 |
NXT is also pleased to have Ms. Sally Elliott join its team. Ms. Elliott, who was previously a member of the investor relations group at Pengrowth Corporation for 12 years, will be tasked with enhancing and expanding NXT’s investor and public relations activities. The agreement provides for an initial term of 6 months, a cash retainer of $12,000 and the granting of up to 400,000 incentive stock options to purchase common shares. The options have graded exercise prices, with a total of 100,000 options being exercisable at each of $1, $2, $3, and $4 per share. The options have a term of 18 months, with 1/3 of the total vesting after each three month period.
NXT is a Calgary based company whose proprietary airborne Stress Field Detection ("SFD®") survey system provides a revolutionary survey method that can be used both onshore and offshore to remotely identify potential hydrocarbon traps and reservoirs. NXT provides its clients an efficient and reliable method to reduce time, costs, and risks related to exploration surveys. The SFD® survey system enables our clients to more efficiently focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain, and is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statements
This news release includes forward-looking statements. When used in this document, words such as “intended”, “anticipate”, “expected” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statements.
For further information contact:
| George Liszicasz, CEO and President | Jeremy Dietz |
NXT Energy Solutions Inc. |
The Equicom Group |
505 — 3rd Street SW, Suite 1400 |
300 - 5th Avenue SW, 10th Floor |
Calgary, Alberta, Canada T2P 3E6 |
Calgary, Alberta, Canada T2P 3C4 |
Tel: (403) 264-7020 |
Tel: (403) 218-2833 |
Fax: (403) 264-6442 |
jdietz@equicomgroup.com |
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
CALGARY, ALBERTA, December 12, 2011 - NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX-V:SFD; NASDAQ-OTCBB:NSFDF), announces progress updates on its various SFD® projects.
Colombia:
NXT has completed airborne SFD® data acquisition operations on four exploration blocks in Colombia
and expects to receive a progress payment exceeding 50% of the US $3 million contract value before
December 31. NXT’s Final Report on the project is expected to be delivered to the client in mid January,
2012.
Argentina:
The SFD® survey aircraft is currently redeploying to Argentina to commence a US $1.7 million project.
NXT expects to complete SFD® data acquisition in January, 2012.
Guatemala:
NXT expects to sign a binding agreement on the recently awarded US $0.7 million survey contract in
December 2011, and plans to commence SFD® survey operations for this project in January, 2012.
South Asia:
The Company expects final permitting for the signed US $2.7 million SFD® survey contract to be granted
in January, 2012 and is anticipating SFD® operations to commence in Q1, 2012.
George Liszicasz, NXT’s President & CEO, noted “I am very proud of our team, their timely execution of the sizeable Colombia project, and the quality of our growing client base. Our efforts to expand our presence into key Latin America markets is gathering momentum and yielding successes”.
NXT will be hosting an investor conference call to discuss its operational updates and plans for the upcoming year at 11 a.m. mountain standard time on Thursday, December 15, 2011. Callers may dial 1‐ 888‐231‐8191 (Toronto local dial 647‐427‐7450) and enter conference ID 35279936.
In addition, NXT notes that a number of holders of common share purchase warrants have recently voluntarily exercised a total of 700,000 warrants at an exercise price of $0.60 per share ahead of the February 16, 2012 expiry date. This resulted in proceeds to the Company of $420,000.
NXT is a Calgary based company whose proprietary airborne Stress Field Detection ("SFD®") survey system provides a revolutionary survey method that can be used both onshore and offshore to remotely identify potential hydrocarbon traps and reservoirs. NXT provides its clients an efficient and reliable method to reduce time, costs, and risks related to exploration surveys. The SFD® survey system enables our clients to more efficiently focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain, and is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking StatementsThis news release includes forward-looking statements. When used in this document, words such as “intended”, “anticipate”, “expected” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statements.
For further information contact:
| George Liszicasz, CEO and President | Jeremy Dietz |
NXT Energy Solutions Inc. |
The Equicom Group |
505 — 3rd Street SW, Suite 1400 |
300 - 5th Avenue SW, 10th Floor |
Calgary, Alberta, Canada T2P 3E6 |
Calgary, Alberta, Canada T2P 3C4 |
Tel: (403) 264-7020 |
Tel: (403) 218-2833 |
Fax: (403) 264-6442 |
jdietz@equicomgroup.com |
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
CALGARY, ALBERTA, December 5, 2011 - NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX-V:SFD; NASDAQ-OTCBB:NSFDF), announces that Mr. Grafton Withers will be joining the Company as Vice-President, Marketing & Sales. Mr. Withers spent 20 years in senior management roles with the Schlumberger group, a Fortune 100 company and one of the top international service providers to the oil & gas exploration and production sectors. In various roles with Schlumberger, Mr. Withers was responsible for managing international sales and operations. He holds a BSc in Mechanical Engineering, a BA in Physics, as well as an MBA.
George Liszicasz, NXT’s President & CEO, noted “We are excited to add Mr. Withers and his exceptional skills and knowledge of international markets to the NXT team, as we continue to expand our world-wide operations”.
In addition, NXT announces that data acquisition operations are nearing completion on its US $2.9 million Colombia SFD® survey project, with the related data interpretation process expected to be completed in January, 2012.
Details for an investor conference call update, to be held on Thursday, December 15, 2011 at 11 am (MT) will be announced shortly.
NXT is a Calgary based company whose proprietary airborne Stress Field Detection ("SFD®") survey system provides a revolutionary survey method that can be used both onshore and offshore to remotely identify potential hydrocarbon traps and reservoirs. NXT provides its clients an efficient and reliable method to reduce time, costs, and risks related to exploration surveys. The SFD® survey system enables our clients to more efficiently focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain, and is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statements
This news release includes forward-looking statements. When used in this document, words such as “intended”, “anticipate”, “expected” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statements.
For further information contact:
| George Liszicasz, CEO and President | Jeremy Dietz |
NXT Energy Solutions Inc. |
The Equicom Group |
505 — 3rd Street SW, Suite 1400 |
300 - 5th Avenue SW, 10th Floor |
Calgary, Alberta, Canada T2P 3E6 |
Calgary, Alberta, Canada T2P 3C4 |
Tel: (403) 264-7020 |
Tel: (403) 218-2833 |
Fax: (403) 264-6442 |
jdietz@equicomgroup.com |
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
CALGARY, ALBERTA, October 31, 2011 - NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX-V:SFD; NASDAQ-OTCBB:NSFDF), announces that it has now signed contracts for US $2.9 million with an existing Canadian client that has significant oil and gas exploration and production operations throughout Latin America. The contracts cover four separate exploration blocks in Colombia for which the aircraft is now in Colombia and SFD® survey operations are commencing.
These contracts relate to a letter of intent as previously announced on June 30, 2011. NXT is in process of finalizing the terms of two remaining contracts, which have an additional revenue value of US $1.70 million, and cover the last two of the six total exploration blocks, one of which is in Guatemala. These six SFD® contracts are in addition to a separate, recently announced $1.65 million contract to conduct an SFD® survey in Argentina. NXT’s contracts provide for progress billings in phases, including a significant portion for initial set-up and mobilization.
“2011 has been a pivotal year for NXT, as we have delivered revenue growth and increased industry awareness of the SFD® technology,” said George Liszicasz, NXT’s President and CEO. “Executing significant contracts with a repeat customer that is focused on exploring new Latin American regions indicates the growing industry acceptance of our innovative technology as a key, early-stage exploration tool. NXT is also in active discussions with other exploration clients to secure additional SFD® contracts in new areas of Latin America”.
Argentina operations are planned to commence following the completion of the data acquisition on the initial four blocks in Colombia. It is expected that data acquisition for all of the Columbia and Argentina contracts could be completed by year end.
NXT is awaiting final regulatory clearances to schedule the previously announced $2.7 million south-east Asia SFD® survey, and potentially acquiring SFD® data as soon as permitted in 2012. These contracts with three separate clients represent a significant milestone in the Company’s expansion, and once the last portion is finalized, it will bring NXT’s total backlog of revenue contracts to US $8.9 million, summarized as follows:
| Colombia (four contracts awarded and underway) | $ | 2.9 |
| Argentina (contract awarded, operations planned to commence in Q4-2011) | 1.6 | |
| South-east Asia (contract awarded, awaiting final clearance)_____________________ | 2.7 | |
| Total awarded contracts | 7.2 | |
| Colombia and Guatemala (two contracts pending finalization)____________________ | 1.7 | |
| Total - US $ millions | 8.9 |
NXT is a Calgary based company whose proprietary airborne Stress Field Detection ("SFD®") survey system provides a revolutionary survey method that can be used both onshore and offshore to remotely identify potential hydrocarbon traps and reservoirs. NXT provides its clients an efficient and reliable method to reduce time, costs, and risks related to exploration surveys. The SFD® survey system enables our clients to more efficiently focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain, and is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statements
This news release includes forward-looking statements. When used in this document, words such as “intended”, “anticipate”, “expected” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statements.
For further information contact:
| George Liszicasz, CEO and President | Jeremy Dietz |
NXT Energy Solutions Inc. |
The Equicom Group |
505 — 3rd Street SW, Suite 1400 |
300 - 5th Avenue SW, 10th Floor |
Calgary, Alberta, Canada T2P 3E6 |
Calgary, Alberta, Canada T2P 3C4 |
Tel: (403) 264-7020 |
Tel: (403) 218-2833 |
Fax: (403) 264-6442 |
jdietz@equicomgroup.com |
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
CALGARY, ALBERTA, September 19, 2011- NXT Energy Solutions Inc. (“NXT” or “the Company”) (TSX-V:SFD; NASDAQ-OTCBB:NSFDF), announces the awarding of a US $1.65 million contract with a new client to conduct an SFD® survey in southern Argentina. The survey is intended to allow the client to focus and fast-track their exploration resources on the most prospective areas within a new exploration block.
The client is a large privately owned Argentina business which has diversified interests in construction and energy exploration and production. NXT has commenced project planning, and is scheduled to mobilize and commence flight operations in the fourth quarter of 2011.
“This new project is further validation of the SFD® technology as an early stage exploration tool to focus client efforts in new and remote frontiers,” said George Liszicasz, NXT’s President and CEO. “Adding this client from an untapped Latin American market further demonstrates our growth strategy to expand SFD® adoption throughout the region.”
NXT also notes that at the recent Latin America Next Generation Oil & Gas (“NGO&G”) summit in
Cancun, Mexico, NXT was awarded the “Summit Thought and Leadership Excellence” award by the
attendees for its innovative SFD® survey system.
NXT is a Calgary based company providing a unique airborne detection technology that enables our clients to focus their hydrocarbon exploration decisions concerning land commitments, seismic data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. NXT’s proprietary airborne Stress Field Detection ("SFD®") survey system provides a unique method that remotely identifies potential traps and reservoirs. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain and is effective both onshore and offshore. NXT provides its clients an efficient and reliable method to reduce time, costs, and risks in conducting frontier exploration surveys. SFD® is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statements
This news release includes forward-looking statements. When used in this document, words such as “intended”, “anticipate” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statements.
For further information contact:
George Liszicasz CEO and President |
Jeremy Dietz |
NXT Energy Solutions Inc. |
The Equicom Group |
505 — 3rd Street, S.W., Suite 1400 |
300 - 5th Avenue SW, 10th Floor |
Calgary, Alberta, Canada T2P 3E6 |
Calgary, AB, Canada T2P 3C4 |
Tel: (403) 264-7020 |
Tel: (403)218-2833 |
Fax: (403) 264-6442 |
jdietz@equicomgroup.com |
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
Wednesday , August 10th 2011
CALGARY, ALBERTA, August 10, 2011- NXT Energy Solutions Inc. (“NXT” or “the Company”) (TSX-V:SFD; NASDAQ-OTCBB:NSFDF), today announced the execution of a gross overriding royalty agreement ("GORR") as part of the consideration earned by NXT on a 10,000 km2 aerial based survey that was conducted in 2008 using NXT’s proprietary SFD® survey system. NXT’s GORR averages 1.5% on future production that may be developed on a sizeable prospect in the Horn River Basin of north-east British Columbia, an area which has become one of North America’s largest new shale gas resource plays.
“This agreement demonstrates growing industry acceptance of our technology, which helps our clients focus their land acquisition strategies and exploration budgets, and make oil and gas discoveries,” said George Liszicasz, NXT’s President and CEO. “The ability to include success-based royalties in our traditional fee-for-service model gives NXT the flexibility to diversify and expand our revenue stream, and as our technology gains wider industry acceptance, we plan to further leverage the use of such royalties, which can be significant.”
The SFD® survey enabled NXT’s client, a mid-sized Canadian exploration and production company, to high-grade its participation in the Horn River Basin, by acquiring lands that displayed SFD® anomalies. Such SFD® anomalies have a high level of correlation with seismic based anomalies, and enable NXT clients to acquire competitive information rapidly at a relatively low cost.
The client has disclosed in various public forums (investor presentations, and on its website) a preliminary internal estimate of up to 9.5 tcf (trillion cubic feet of natural gas) of “Discovered petroleum initially-in-place” on its 110 section Horn River play (of which 21.75 net sections, or approximately 20% of the lands, are subject to NXT’s GORR). NXT was not involved in the preparation of the presentations or the resource estimates contained therein.
The value of the GORR will ultimately be dependent upon various factors (including future natural gas prices, and access to drilling and completion services, and pipeline infrastructure) that will affect the timing and extent of development of the Horn River Basin.
NXT is a Calgary based company providing a unique airborne detection technology that enables our clients to focus their hydrocarbon exploration decisions concerning land commitments, seismic data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. NXT’s proprietary airborne Stress Field Detection ("SFD®") survey system provides a unique method that remotely identifies potential traps and reservoirs. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain and is effective both onshore and offshore. NXT provides its clients an efficient and reliable method to reduce time, costs, and risks in conducting frontier exploration surveys. SFD® is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statements
This news release includes forward-looking statements. When used in this document, words such as “may”, “anticipate”, “development”, “could” and “potential” are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statements. There is a specific risk that the GORR could produce no revenue for NXT if the lands which are subject to the GORR are never explored or developed or if hydrocarbons are not found or produced in economic quantities. NXT is not in the oil and gas exploration and development business and as such has not reviewed or engaged an independent professional to review the client’s resource estimate, which may prove to be inaccurate.
For further information contact:
George Liszicasz CEO and President |
Jeremy Dietz |
NXT Energy Solutions Inc. |
The Equicom Group |
505 — 3rd Street, S.W., Suite 1400 |
300 - 5th Avenue SW, 10th Floor |
Calgary, Alberta, Canada T2P 3E6 |
Calgary, AB, Canada T2P 3C4 |
Tel: (403) 264-7020 |
Tel: (403)218-2833 |
Fax: (403) 264-6442 |
jdietz@equicomgroup.com |
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
Monday July 25 2011
CALGARY, ALBERTA, July 25, 2011- NXT Energy Solutions Inc. (“NXT” or “the Company”) (TSX-V:SFD; NASDAQ-OTCBB:NSFDF), today announced that Mr. Doug Rowe has stepped down from NXT’s Board of Directors effective immediately and Mr. John Agee has accepted the appointment as the new Board member.
“We are delighted to have a director of Mr. Agee’s caliber join our Board,” said George Liszicasz, NXT’s President and CEO. “As NXT continues to grow into a market-leading organization, the need for a seasoned professional in financial and governance matters at the Board level is essential. We also wish to extend our sincere gratitude to Mr. Rowe for his long-term service as a director and integral advisor to the Company, and we wish him the best of luck in his future endeavors.”
Mr. Agee commented “I am very excited to join NXT’s Board and assist the Company in realizing the tremendous market potential of their unique SFD survey technology.”
Mr. Agee recently retired from a successful career, during which he spent over 25 years in senior executive positions with three separate and prominent US families. Most recently he worked with the Carlson Family in Minneapolis, MN (owners of Radisson, Country Inns and Suites, and TGI Friday's). Prior to that, Mr. Agee worked for the Steve Case Family in Washington, DC (Steve Case is the founder of America Online), and the Gerald Rauenhorst Family in Minneapolis, MN (the Rauenhorst family owns Opus Corporation, a national real estate development company.) During this 25 year period Mr. Agee also served on numerous private, public, and non-profit Boards. Mr. Agee currently consults part-time in matters related to wealth management and is a CPA (inactive). Mr. Agee holds an MBA from the University of Minnesota and a BA from St. John's University, Collegeville, MN. Mr. Agee resides in Minnesota
In conjunction with his appointment to the Board, the Company has granted Mr. Agee 120,000 incentive stock options (“Options”). In addition, the Company has granted 150,000 Options to new CFO, Mr. Greg Leavens, 80,000 Options to existing officers and 154,800 to employees and advisors. The Options were issued at an exercise price of Cdn. $1.16 per Option and will vest over a three (3) year period and expire five (5) years after the date of grant. The Options were granted in accordance with the Company’s Stock Option Plan.
About NXT Energy Solutions Inc.
NXT is a Calgary based company providing airborne detection solutions to support international hydrocarbon exploration enabling our clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. NXT’s proprietary airborne Stress Field Detection ("SFD®") survey system provides a unique survey method that remotely identifies potential traps and reservoirs. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain and is effective both onshore and offshore. NXT provides its clients an efficient and reliable method to conduct frontier surveys to support exploration. SFD® is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statement
This news release includes a forward-looking statement. When used in this document, words such as “see”, “anticipate” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statement.
For further information contact:
George Liszicasz CEO and President |
Jeremy Dietz |
NXT Energy Solutions Inc. |
The Equicom Group |
505 — 3rd Street, S.W., Suite 1400 |
300 - 5th Avenue SW, 10th Floor |
Calgary, Alberta, Canada T2P 3E6 |
Calgary, AB, Canada T2P 3C4 |
Tel: (403) 264-7020 |
Tel: (403)218-2833 |
Fax: (403) 264-6442 |
jdietz@equicomgroup.com |
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
Monday July 11 2011
CALGARY, ALBERTA, July 11, 2011- NXT Energy Solutions Inc. (“NXT”) (TSX-V:SFD; NASDAQ-OTCBB:NSFDF), announces that Greg Leavens has joined the Company as VP Finance and Chief Financial Officer. Mr. Leavens is a Chartered Accountant with more than 20 years of experience that has included senior financial roles within the oil and gas exploration and production, as well as services sectors. Mr. Leavens was Chief Financial Officer of Result Energy Inc. from 2003 until November 2009, subsequent to which he was involved in a variety of consulting roles.
Mr. Leavens is succeeding Ken Rogers, who has served as NXT’s VP Finance and CFO since January 2006.
Mr. Rogers is leaving the Company to pursue other interests.
“The addition of Mr. Leavens to our management team will provide us with financial and strategic leadership during this period of commercial expansion," said George Liszicasz, NXT’s President and CEO. “NXT and the Board of Directors want to thank Ken for his contributions that helped us evolve into a reputable service provider over the past five years. We look forward to continuing to work with Ken in the future and wish him the best in his future endeavors."
NXT also announces that it has retained The Equicom Group Inc. ("Equicom") to provide strategic investor relations and communications services.
Equicom provides strategic communications services to approximately 100 public companies across a diverse range of industries. Under the terms of the agreement, NXT will pay Equicom a monthly fee of $6,000 for select strategic communication services. The contract commences immediately.
Neither Equicom nor any of its principals have an ownership interest, directly or indirectly, in NXT or its securities, nor has the Company granted Equicom or its principals any rights to acquire any such interests. Equicom is a wholly-owned subsidiary of TMX Group Inc.
About NXT Energy Solutions Inc.
NXT is a Calgary based company providing airborne detection solutions to support international hydrocarbon exploration enabling our clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. NXT’s proprietary airborne Stress Field Detection ("SFD®") survey system provides a unique survey method that remotely identifies potential traps and reservoirs. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain and is effective both onshore and offshore. NXT provides its clients an efficient and reliable method to conduct frontier surveys to support exploration. SFD® is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statement
This news release includes a forward-looking statement. When used in this document, words such as “see”, “anticipate” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statement.
For further information contact:
Greg Leavens, CFO |
Jeremy Dietz |
NXT Energy Solutions Inc. |
The Equicom Group |
505 — 3rd Street, S.W., Suite 1400 |
300 - 5th Avenue SW, 10th Floor |
Calgary, Alberta, Canada T2P 3E6 |
Calgary, AB, Canada T2P 3C4 |
Tel: (403) 264-7020 |
Tel: (403)218-2833 |
Fax: (403) 264-6442 |
jdietz@equicomgroup.com |
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
Thursday June 30 2011
NXT Energy Solutions Inc. (“NXT” or “the Company”) .
CALGARY, ALBERTA, June 30, 2011- NXT Energy Solutions Inc (“NXT”) (TSX-V:SFD; NASDAQ-OTCBB:NSFDF), today announced the signing of a Letter of Intent (“LOI”) with an existing client to execute six SFD® contracts, which includes five surveys in Colombia and one survey in Guatemala. NXT has commenced project planning and is scheduled to mobilize and complete flight operations in the third quarter of 2011.
“This LOI with an existing client further validates our SFD® technology as an integral tool for the exploration of hydrocarbons. This client’s expanded use of SFD® into multiple countries and geological regions speaks directly to the growing confidence in our technology,” said George Liszicasz, NXT President and CEO. “We look to leverage this success as we continue to expand our presence in Latin America.”
The LOI and work program have an estimated value in excess of USD $4 million, which is subject to certain conditions and the execution of definitive agreements. The definitive agreements shall follow the form and terms of a previous agreement executed by the parties. The LOI does not impose a binding obligation on either party but does document the intentions of the parties to proceed expeditiously to the execution of the definitive agreements.
NXT is a Calgary based company providing airborne detection solutions to support hydrocarbon exploration enabling our clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. NXT’s proprietary airborne Stress Field Detection ("SFD®") survey system provides a unique survey method that remotely identifies potential traps and reservoirs. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain and is effective both onshore and offshore. NXT provides its clients an efficient and reliable method to conduct frontier surveys to support exploration. SFD® is the registered trademark of NXT Energy Solutions Inc.
George Liszicasz CEO and President |
Jeremy Dietz |
NXT Energy Solutions Inc. |
The Equicom Group |
505 — 3rd Street, S.W., Suite 1400 |
300 - 5th Avenue SW, 10th Floor |
Calgary, Alberta, Canada T2P 3E6 |
Calgary, AB, Canada T2P 3C4 |
Tel: (403) 264-7020 |
Tel: (403)218-2833 |
Fax: (403) 264-6442 |
jdietz@equicomgroup.com |
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
Wednesday April 27 2011
NXT Energy Solutions Inc. (“NXT” or “the Company”) .
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
CALGARY, ALBERTA- NXT Energy Solutions Inc. (“NXT” or “the Company") is pleased to announce the appointment of Dr. Carlos Vargas to our Geosciences Advisory Board. NXT’s Geosciences Advisory Board was formed on June 30, 2008 with a mandate to expand industry applications of the SFD® Survey System as well as to advance the understanding of the underlying science. Dr. Carlos Vargas will join Dr. George Iusco on advisory board. The appointment of Dr. Vargas reflects the successful activities and focus of NXT in surveying underexplored areas of South America.
Dr. Vargas, based in Bogota, Colombia, is a prominent, well published geoscientist who regularly presents at oil and gas conferences in Latin American and the USA. His impressive academic credentials and experience are extremely relevant to our SFD® technology and the related services we provide. Dr. Vargas was recently a Postdoctoral fellow researcher at the Institute for Geophysics at the University of Texas in Austin, Texas. He earned a PhD. Geophysics at the Technical University of Catalonia (UPC) in Barcelona, Spain. Dr. Vargas is a former technical director of ANH, the National Hydrocarbon Agency in Colombia.
“I have a keen interest in new geological modeling techniques using conventional data,” said Dr. Vargas. “The attraction for me is SFD® provides a unique independent data source that when interpreted has the potential to be an industry game changer. I am looking forward to working with the NXT team to conduct further SFD® integration studies and presenting our results to the industry.”
Dr. Vargas will be presenting SFD® case studies at the XIV Latin American Congress of Geology to be held in Medellín, Colombia, between August 29 and September 02, 2011.
NXT is a Calgary based company providing airborne detection solutions to support hydrocarbon exploration enabling our clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. NXT’s proprietary airborne Stress Field Detection ("SFD®") survey system provides a unique survey method that remotely identifies potential traps and reservoirs. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain and is effective both onshore and offshore. NXT provides its clients an efficient and reliable method to conduct frontier surveys to support exploration. SFD® is the registered trademark of NXT Energy Solutions Inc.
Ken Rogers, VP Finance and CFO |
NXT Energy Solutions Inc. |
Suite 1400, 505 3rd Street, S.W., |
Calgary, Alberta, Canada T2P 3E6 |
Tel: (403) 264-7020 |
Fax: (403) 264-6442 |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
Thursday April 14, 2011
NXT Energy Solutions Inc. (“NXT” or “the Company”) .
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
CALGARY, ALBERTA- NXT Energy Solutions Inc. (“NXT” or “the Company") announces that the previously announced investor’s conference call scheduled for today has been rescheduled due to technical difficulties to Tuesday April 19th, 2011 at 2:30 PDT (4:30 EDT or 1:30 PDT). NXT’s management invites all interested parties to participate in this conference call.
To participate in the call please phone one of the numbers below and then enter the conference access code followed by the “#” key:
Dial-in Phone Numbers: |
1-877-353-9586 toll free from Canada and USA |
403-532-8075 Calgary or International |
647-837-0597 Toronto |
Participant Access Code:80452
NXT is a Calgary based company providing airborne detection solutions to support hydrocarbon exploration enabling our clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. NXT’s proprietary airborne Stress Field Detection ("SFD®") survey system provides a unique survey method that remotely identifies potential traps and reservoirs. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain and is effective both onshore and offshore. NXT provides its clients an efficient and reliable method to conduct frontier surveys to support exploration. SFD® is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statement This news release includes forward-looking statements. When used in this document, words such as “plan”, “see”, “anticipate” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statement.
Ken Rogers, VP Finance and CFO |
NXT Energy Solutions Inc. |
Suite 1400, 505 3rd Street, S.W., |
Calgary, Alberta, Canada T2P 3E6 |
Tel: (403) 264-7020 |
Fax: (403) 264-6442 |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
Monday April 4, 2011
NXT Energy Solutions Inc. (“NXT” or “the Company”) .
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
CALGARY, ALBERTA- NXT Energy Solutions Inc. (“NXT” or “the Company") is pleased to announce:
> The signing of a US $150,000 contract to conduct a pilot SFD® survey in Montana for a Calgary based exploration & production client. The purpose of the pilot survey is to utilize SFD® to provide indicators of trap and reservoir potential in a complex geological environment. The proposed survey area contains both large and small targets located at various depths and the client intends to use the survey results to focus future seismic acquisitions. This survey shall commence in the second quarter of this year subject to obtaining required flight permits.
> In April 2011 the following Oil & Gas conferences shall be attended by NXT’s management:
The Next Generation Oil & Gas Summit to be held on April 5th - 7th in South Africa;
The Colombia Oil & Gas Exhibition being held April 5th - 6th in Cartagena, Colombia; and
The AAPG conference to be held April 10th – 12th in Houston, Texas.
> An investor’s conference call will be held at 2:30 MDT (4:30 EDT) on April 14, 2011 where management will provide an operational update on matters of interest to investors including a progress report on our existing survey contracts, current sales initiatives and a general update on other initiatives planned by management and its advisory board throughout the balance of 2011.
NXT’s management invites all interested parties to participate in this investor’s conference call. To participate in the call please phone one of the two numbers below and then enter the conference code followed by the “#” key:
In North America +1-866-468-0803
International Locations +1-647-427-7545
Conference Code: 8045965086
NXT is a Calgary based company providing airborne detection solutions to support hydrocarbon exploration enabling our clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. NXT’s proprietary airborne Stress Field Detection ("SFD®") survey system provides a unique survey method that remotely identifies potential traps and reservoirs. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain and is effective both onshore and offshore. NXT provides its clients an efficient and reliable method to conduct frontier surveys to support exploration. SFD® is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statement This news release includes forward-looking statements. When used in this document, words such as “plan”, “see”, “anticipate” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statement.
Ken Rogers, VP Finance and CFO |
NXT Energy Solutions Inc. |
Suite 1400, 505 3rd Street, S.W., |
Calgary, Alberta, Canada T2P 3E6 |
Tel: (403) 264-7020 |
Fax: (403) 264-6442 |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
Monday, February 28, 2011
NXT Energy Solutions Inc. (“NXT” or “the Company”) .
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
CALGARY, ALBERTA- NXT Energy Solutions Inc. (“NXT” or “the Company") announces the grant of 150,000 incentive stock options to an insider pursuant to the Company's Stock Option Plan (“Option Plan”). The grant is made to a member of the management team as part of a total compensation package as approved by the compensation committee of the board. 50,000 of these options vest immediately with the balance vesting over a two (2) year period. These options expire three (3) years from the date of grant and are exercisable at a price of Cdn. $0.53 per share.
In addition the Company wishes to announce the re-pricing of 1,615,000 options that were previously issued to insiders. This re-pricing was approved by disinterested shareholders at the Company’s Annual General Meeting held on December 8, 2010 and subsequently the Company’s submission was “accepted for filing” by the TSX Venture Exchange. All re-priced options are now exercisable at a price of Cdn. $0.63 per share. All other terms of these option grants remain unchanged.
As at February 25, 2011 the Company had 34,002,396 common shares issued and outstanding and 3,400,240 shares reserved for issuance under the Option Plan. Subsequent to the option grant announced above the number of shares remaining available for issuance under the plan is 1,045,636.
NXT is a Calgary based company providing airborne detection solutions to support hydrocarbon exploration enabling our clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. NXT’s proprietary airborne Stress Field Detection ("SFD®") survey system provides a unique survey method that remotely identifies potential traps and reservoirs. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain and is effective both onshore and offshore. NXT provides its clients an efficient and reliable method to conduct frontier surveys to support exploration. SFD® is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statement This news release includes forward-looking statements. When used in this document, words such as “plan”, “see”, “anticipate” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statement.
George Liszicasz, President and CEO |
NXT Energy Solutions Inc. |
Suite 1400, 505 3rd Street, S.W., |
Calgary, Alberta, Canada T2P 3E6 |
Tel: (403) 264-7020 |
Fax: (403) 264-6442 |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
Friday, February 28, 2011
Item 1 Name and Address of Company
NXT Energy Solutions Inc. ("NXT" or the "Company")
Suite 1400, 505 3rd Street, S.W.,
Calgary, Alberta, Canada T2P 3E6
Item 2 Date of Material Change
February 16, 2010
Item 3 News Release
A news release disclosing the material change was issued via on February 17, 2011.
Item 4 Summary of Material Change
On February 16, 2011 NXT issued an aggregate of 3,200,600 units ("Units") at a price of $0.50 per Unit, each Unit consisting of one Common Share ("Share") and one warrant ("Warrant"). Each Warrant entitles the holder to acquire an additional Share at a price of $0.60 per Share on or before February 16, 2012, subject to certain acceleration terms described below.
Item 5.1 Full Description of Material Change
On February 16, 2011 NXT issued an aggregate of 3,200,600 Units at a price of $0.50 per Unit, each Unit consisting of one Share and one Warrant. Each Warrant is subject to acceleration in the event the Company issues a press release advising that the Common Shares have traded on the Exchange at a price per share greater than $0.90 for 10 consecutive trading days, in which case the Warrants shall expire, without further notice, on the 30th Day following the issuance of the press release. In connection with this closing the Company paid a finder's fee of $72,600 and 145,320 Warrants.
The Shares and Warrants issued pursuant to the Private Placement are subject to a hold period that expires June 17, 2011 for trades in Canada and are issued with a legend restricting trades in the United States.
Item 5.2 Disclosure of Restructuring Transactions
Not applicable.
Item 6 Reliance on subsection 7.1(2) of National Instrument 51-102
Not applicable.
Item 7 Omitted Information
Not applicable.
Item 8 Executive Officer
Ken Rogers, Vice President Finance and Chief Financial Officer of NXT, is knowledgeable about the material change described herein and may be reached at (403) 264‐7020
Item 9 Date of Report
February 25, 2011
Thursday February 17, 2011
NXT Energy Solutions Inc. (“NXT” or “the Company”) .
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
CALGARY, ALBERTA- NXT Energy Solutions Inc. (“NXT” or “the Company") is pleased to announce a closing on February 16, 2011 of the non-brokered private placement ("Private Placement") as announced on February 10, 2011 for an aggregate of $1,600,300 including $40,000 from Insiders. At this closing NXT issued 3,200,600 units of the Company’s ("Units") at a price of $0.50 per Unit, each Unit consisting of one Common Share (“Share”) and one warrant ("Warrant"). Each Warrant entitled the holder to acquire an additional Share at a price of $0.60 per Share on or before February 16, 2012, subject to certain acceleration terms as outline in our February 10, 2011 news release. In connection with this closing the Company paid a finder's fee of $72,600 and 145,320 Warrants. The Company may have an additional closing on this Private Placement. All prices are expressed in Canadian dollars.
The Shares and Warrants issued pursuant to the Private Placement are subject to a hold period that expires June 17, 2011 for trades in Canada and are issued with a legend restricting trades in the United States. Following this closing, NXT has 34,002,396 shares issued and outstanding. The Company intends to use the proceeds from the Private Placement to provide resources required to execute the Company s business plan including, but not limited to completing SFD surveys, undertaking sales and marketing programs and general corporate purposes.
The Company is currently evaluating potential dates for an Investor Conference Call to be held in March, 2011. During the conference call management will provide an operational update followed by a Q & A opportunity for investors. The actual date for the call will be selected upon finalization of several international travel commitments of management. The detail of this conference call will be distributed when available by a separate news release.
NXT is a Calgary based company providing airborne detection solutions to support hydrocarbon exploration enabling our clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. NXT’s proprietary airborne Stress Field Detection ("SFD®") survey system provides a unique survey method that remotely identifies potential traps and reservoirs. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain and is effective both onshore and offshore. NXT provides its clients an efficient and reliable method to conduct frontier surveys to support exploration. SFD® is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statement This news release includes forward-looking statements. When used in this document, words such as “plan”, “see”, “anticipate” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statement.
Ken Rogers, VP Finance and CFO |
NXT Energy Solutions Inc. |
Suite 1400, 505 3rd Street, S.W., |
Calgary, Alberta, Canada T2P 3E6 |
Tel: (403) 264-7020 |
Fax: (403) 264-6442 |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
Thursday February 10, 2011
NXT Energy Solutions Inc. (“NXT” or “the Company”) .
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
CALGARY, ALBERTA- NXT Energy Solutions Inc. (“NXT” or “the Company") is pleased to announce a non-brokered private placement ("Private Placement") of up to $1,920,000 consisting of 3,840,000 million units of the Company ("Units") at a price of $0.50 per Unit, each Unit consisting of one Common Share (“Shares”) and one warrant ("Warrant"). A Warrant shall entitle the holder to acquire an additional Share at a price of $0.60 per Share for a period of one year from the date of closing, subject to acceleration in the event the Company issues a press release advising that the Shares have traded on the TSX Venture Exchange at a price per share greater than $0.90 for 10 consecutive trading days, in which case the Warrants shall expire, without further notice, on the 30th day following the issuance of the press release. Closing of the Private Placement is expected to occur on or about February 15th, 2011. In connection with the Private Placement, finder's fees may be paid of up to 7% in cash and up to 7% in Warrants. All prices are expressed in Canadian dollars.
The Company intends to use the proceeds from the Private Placement to provide resources required to execute the Company's business plan including, but not limited to completing SFD surveys, undertaking sales and marketing programs and general corporate purposes. All securities issues in connection with the Private Placement will be subject to applicable resale restrictions.
NXT is a Calgary based company providing airborne detection solutions to support hydrocarbon exploration enabling our clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. NXT’s proprietary airborne Stress Field Detection ("SFD®") survey system provides a unique survey method that remotely identifies potential traps and reservoirs. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain and is effective both onshore and offshore. NXT provides its clients an efficient and reliable method to conduct frontier surveys to support exploration. SFD® is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statement This news release includes forward-looking statements. When used in this document, words such as “plan”, “see”, “anticipate” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statement.
Ken Rogers, VP Finance and CFO |
NXT Energy Solutions Inc. |
Suite 1400, 505 3rd Street, S.W., |
Calgary, Alberta, Canada T2P 3E6 |
Tel: (403) 264-7020 |
Fax: (403) 264-6442 |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
Tuesday January 4, 2011
NXT Energy Solutions Inc. (“NXT” or “the Company”) .
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
CALGARY, ALBERTA- NXT Energy Solutions Inc. (“NXT” or “the Company") is pleased to announce the receipt of a Letter of Award (LOA) from Pakistan Petroleum Limited (“PPL”) for NXT to conduct an SFD® airborne survey in Pakistan for a total estimated value of US $ 2.66 million. This LOA represents the formal acceptance of the bid submitted by NXT to PPL on November 2, 2010 referred to in the Company’s “Q3 2010 FINANCIAL AND OPERATIONAL RESULTS”.
South Asia is a region with great exploration potential and is one of the major under-explored regions in the world. PPL is the second largest oil and gas producer in Pakistan which discovered and is now the operator of the Sui Gas Field, the largest natural gas field in South Asia. PPL also carries one of the largest exploration portfolios in Pakistan and is listed on the Karachi Stock Exchange under PPL.
The award of the contract is subject to execution of a definitive contract and the submission by the Company of a 10% performance bond. The SFD survey for PPL is scheduled to commence in the first quarter of 2011.
“Winning this new contract offers us an opportunity to enter South Asia building upon our recent successes in Colombia” says George Liszicasz NXT’s CEO and President. “NXT engaged a regional representative in November 2010 to expand our opportunities with National and international companies operating in Pakistan”.
NXT is a Calgary based company providing airborne detection solutions to support hydrocarbon exploration enabling our clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. NXT’s proprietary airborne Stress Field Detection ("SFD®") survey system provides a unique survey method that remotely identifies potential traps and reservoirs. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain and is effective both onshore and offshore. NXT provides its clients an efficient and reliable method to conduct frontier surveys to support exploration. SFD® is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statement This news release includes forward-looking statements. When used in this document, words such as “plan”, “see”, “anticipate” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statement.
Ken Rogers, VP Finance and CFO |
NXT Energy Solutions Inc. |
Suite 1400, 505 3rd Street, S.W., |
Calgary, Alberta, Canada T2P 3E6 |
Tel: (403) 264-7020 |
Fax: (403) 264-6442 |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
Tuesday November 30, 2010
NXT Energy Solutions Inc. (“NXT” or “the Company”) .
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
NXT Energy Solutions Inc, (“NXT” or “the Company”) is pleased to announce its financial and operating results for the three quarters ended September 30, 2010. All selected and referenced financial information should be read in conjunction with the consolidated financial statements and management discussion and analysis as filed on SEDAR at www.sedar.com, on NXT’s website at www.nxtenergy.com and on EDGAR at www.sec.gov/edgar.shtml.
| Selected Financial Information | ||||
| Expressed in Canadian dollars | For the three months ended | For the six months ended | ||
| Sep 30, 2010 | Sep 30, 2009 | Sep 30, 2010 | Sep 30, 2009 | |
| SFD® survey revenue | $0 | $0 | $443,011 | $2,638,560 |
| Net income (loss) | ($962,590) | ($969,591) | ($3,175,735) | ($1,733,667) |
| Net income (loss) per share unit; basic and diluted | ($0.03) | ($0.03) | ($0.10) | ($0.06) |
| Net cash used in operating activities | $1,970,501 | $1,116,501 | ||
| At at | ||||
| Sept 30, 2010 | December 31, 2009 | |||
| Cash and short term investments | $2,149,173 | $4,174,145 | ||
| Total assets | $2,869,894 | $6,005,640 | ||
| Total liabilities | $606,805 | $972,323 | ||
The company encountered delays in closing sales opportunities within our primary market of Colombia in the third quarter of 2010 and accordingly the Company did not record any SFD® survey revenue in the third quarter of 2010. The conditions which gave rise to these delays have continued into the fourth quarter of 2010. In response to these reduced sales opportunities we have broadened our marketing activities to now include two new countries; Peru and Pakistan.
The delays in the Colombia market were largely driven by problems in the award of concession blocks following the 2010 Colombian Bid Round submissions in July of 2010. ANH, the Colombian regulatory body, delayed the formal award of concession blocks pending appeals made by a few unsuccessful bidder companies. The successful bidder companies have accordingly suspended awarding contracts to service providers, such as NXT, as they await formal concession awards. We anticipate these formal awards to occur prior to the end of 2010 and with these awards the opportunities for closing SFD® survey contracts will resume.
The Company remains committed to the Colombian market as Colombia provides a strong market for our SFD® services. We continue with active sales initiatives in this country including maintaining ongoing dialogue with Colombian companies who have stated their intention to conduct SFD® surveys upon receiving formal concession block awards and to companies who have expressed interest in purchasing previously acquired Colombian SFD® data.
In the third quarter the Company had responded to a request for information from a Pakistan oil and gas company. This Pakistan company has now conducted extensive due diligences on SFD® and NXT including reviewing technical material, obtaining written references from NXT clients from both Canada and Colombia plus receiving several technical presentation from NXT personnel in Pakistan.
This process has resulted in NXT receiving a sole source request-for-proposal to conduct an SFD® survey in Pakistan. NXT’s bid was submitted on November 2 and the bid process has now resulted in the completion of both technical and financial reviews by this potential customer. We are in the process of awaiting a contract award which we anticipate closing. The survey is for $2.66 million with the survey scheduled to commence in the first quarter of 2011. Notwithstanding these positive developments there can be no assurance that this process will result in a contract award.
In addition, as previously announced, in the third quarter the Company engaged a respected Peruvian representative to act as our non-exclusive sales representative in that country.
NXT is a Calgary based company providing airborne detection solutions to support hydrocarbon exploration enabling our clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. NXT’s proprietary airborne Stress Field Detection ("SFD®") survey system provides a unique survey method that remotely identifies potential traps and reservoirs. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain and is effective both onshore and offshore. NXT provides its clients an efficient and reliable method to conduct frontier surveys to support exploration. SFD® is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statement
This news release includes forward-looking statements. When used in this document, words such as “plan”, “see”, “anticipate” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statement.
For further information contact:
Ken Rogers, VP Finance and CFO |
NXT Energy Solutions Inc. |
Suite 1400, 505 3rd Street, S.W., |
Calgary, Alberta, Canada T2P 3E6 |
Tel: (403) 264-7020 |
Fax: (403) 264-6442 |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
Monday August 30, 2010
NXT Energy Solutions Inc. (“NXT” or “the Company”) .
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
CALGARY, ALBERTA –NXT Energy Solutions Inc, (“NXT” or “the Company”) is pleased to announce its financial and operating results for the second quarter ended June 30, 2010. All selected and referenced financial information should be read in conjunction with the consolidated financial statements and management discussion and analysis as filed on SEDAR at www.sedar.com, on NXT’s website at www.nxtenergy.com and on EDGAR at www.sec.gov/edgar.shtml
| Selected Financial Information | ||||
| For the three months ended | For the six months ended | |||
| June 30, 2010 | June 30, 2009 | June 30, 2010 | June 30, 2009 | |
| SFD® survey revenue | $443,011 | $2,638,560 | $443,011 | $2,638,560 |
| Net income (loss) | ($890,673) | $283,005 | ($2,213,145) | ($764,076) |
| Net income (loss) per share unit; basic and diluted | ($0.03) | $0.01 | ($0.07) | ($0.02) |
| Net cash generated (used) in operating activities | ($766,931) | ($1,192,922) | ($1,141,170) | ($2,075,867) |
| As at | ||||
| June 30, 2010 | December 31, 2009 | |||
| Cash and short term investments | $2,944,585 | $4,174,145 | ||
| Total assets | $3,090,155 | $6,005,640 | ||
| Total liabilities | $650,066 | $972,323 | ||
Colombia
In early 2009 NXT embarked on a fundamentally new business strategy with the objective of becoming established as a respected service provider and industry leader for oil and gas reconnaissance surveys in Colombia. We believe this strategy will position NXT for long term commercial success by creating a strong client and revenue base in Colombia and providing a “springboard” for revenue growth in adjacent Latin American countries and throughout the world.
Previous NXT reports outlined our reasoning for the selection of Colombia as our initial international market and the 2010 first quarter report identifies several indicators confirming that we are making progress in achieving our objectives in Colombia.
We remain satisfied that we are making progress in the first phase of implementing our strategy, which is to gain market acceptance of the value of our SFD® technology in Colombia. The operational advantages of our airborne survey system are compelling and becoming well understood in Colombia. However, in order to gain an understanding of when this growing market acceptance may generate SFD® survey revenue does require a discussion of the Colombian exploration system..
The contract terms entered into by oil and gas companies for concession blocks effectively dictate what exploration activities they will conduct in Colombia. Exploration is governed by specific contractual obligations entered into between an operator of a concession block and the Colombian oil and gas regulatory agency (the “ANH”). The contract defines the work commitment that is required to maintain mineral rights for a block. A contracted work commitment consists of specific capital programs that include geophysical surveys and/or the drilling of wells. The contract identifies what is to be done, the dollars to be spent and the completion deadlines (including annual milestones over a three year contract period). Furthermore the operator must provide sufficient security to the ANH, usually in the form of a bond, that will be drawn upon should the operator default on a contractual commitment. Given these strict terms and penalties, operators generally allocate capital budgets only to these contracted work commitments.
In the past this structure created a barrier for NXT entering the Colombian market as earlier contracted work commitments would not have included an SFD® survey component. Accordingly SFD®, regardless of its merits, was a difficult sale.
Despite these obstacles, NXT did close sales and completed surveys for clients in 2009 and 2010. One client re-negotiated their work commitment with the ANH and replaced an existing seismic survey commitment with an SFD® survey. Other clients engaged NXT for small pilot SFD® surveys despite the surveys not being recognized as work commitments. Collectively these SFD® surveys resulted in over $4 million of survey revenue and allowed NXT to acquire over 20,000 km of SFD® data in Colombia. The success of these SFD® surveys and subsequent client endorsements was instrumental in the ANH approving SFD® as a valid work commitment for the 2010 bid round..
This recent recognition of SFD® as a valid work commitment by the ANH has removed the major barrier for NXT in the Colombian market, opening up opportunities for revenue growth. Many 2010 bid round blocks include minimum (i.e. mandatory) work components that can be satisfied with SFD® surveys. In addition companies bid extra work commitments that may provide more opportunities for SFD® surveys.
We anticipate some modest revenue throughout the balance of 2010 with more significant opportunities from the 2010 bid round to commence in 2011. Formal execution of the 2010 bid round contracts is anticipated to be finalized in November 2010 with work commitment projects to commence in 2011. The 2010 revenue opportunities arise from companies interested in acquiring existing SFD® data over concession blocks awarded in prior years.
We believe that the 2010 bid round and the clear acceptance of SFD® as a valid work commitment is a turning point in our business development in Colombia and has positioned us for success not just in Colombia, but in other Latin American countries. We believe that the next phase of our business development of converting market acceptance into significant and consistent revenue growth is in the our future.
We have now commenced sales activities in Peru. The geology, community issues, security and environmental concerns are very similar to Colombia. Many companies operate in both Colombia and Peru including all our Colombian clients. In addition, the 2010 Peruvian bid round, which will close on October 11, 2010, affords NXT an additional opportunity to position SFD® as a valid bid round work commitment.
On August 26, 2010 we engaged a respected Peruvian representative to act as our non-exclusive sales representative in the country and to work with the Peruvian regulatory agency, PeruPetro, to ensure that SFD® is recognized as a valid work commitment. Given our recent success in Colombia we anticipate that this approval is forthcoming. We have been informed by companies of their intention to conduct SFD® surveys in Peru upon receiving confirmation that PeruPetro has publicly accepted SFD® as a valid survey to meet their work commitments.
Management Change
Mr. Murray Christie, our COO and Senior VP, will leave his position with the Company as of the end of August to pursue different business interests. Mr. Christie has been a strong contributor in the development of the Company’s business plan. We wish Mr. Christie success in his new position and look forward to future business relations.
NXT is a Calgary based company providing airborne detection solutions to support hydrocarbon exploration enabling our clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. NXT’s proprietary airborne Stress Field Detection ("SFD®") survey system provides a unique survey method that remotely identifies potential traps and reservoirs. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain whether onshore or offshore. NXT provides its clients an efficient and reliable method to conduct frontier surveys to support exploration. SFD® is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statement This news release includes a forward-looking statement. When used in this document, words such as “see”, “anticipate” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statement.For further information contact:
| Ken Rogers, VP Finance and CFO |
| NXT Energy Solutions Inc. |
| Suite 1400, 505 3rd Street, S.W., |
| Calgary, Alberta, Canada T2P 3E6 |
| Tel: (403) 264-7020 |
| Fax: (403) 264-6442 |
| nxt_info@nxtenergy.com |
| www.nxtenergy.com |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
Tuesday June 1, 2010
NXT Energy Solutions Inc. (“NXT” or “the Company”) .
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
CALGARY, ALBERTA –NXT Energy Solutions Inc, (“NXT” or “the Company”) is pleased to announce its financial and operating results for the quarter ended March 31, 2010. All selected and referenced financial information should be read in conjunction with the consolidated financial statements and management discussion and analysis as filed on SEDAR at www.sedar.com, on NXT’s website at www.nxtenergy.com and on EDGAR at www.sec.gov/edgar.shtml
| Selected Financial Information | |||
| For the 3 months ended | |||
| March 31, 2010 | March 31, 2009 | ||
| SFD® survey revenue | $0 | $0 | |
| Oil and natural gas revenue | $1,395 | $228 | |
| Net income (loss) | ($1,322,472) | ($1,047,081) | |
| Net income (loss) per share unit; basic and diluted | ($0.04) | ($0.03) | |
| Net cash generated (used) in operating activities | ($374,239) | ($882,946) | |
| As at , | |||
| March 31, 2010 | December 31, 2009 | ||
| Cash and short term investments | $3,777,704 | $4,174,145 | |
| Total assets | $4,843,043 | $6,005,640 | |
| Total liabilities | $976,882 | $972,323 | |
Despite the lack of SFD® survey revenue in Q1 2010 we believe recent events provide evidence that we are making progress towards our objective of becoming a respected service provider in Colombia. With our growing stature we anticipate that we should see additional revenue contracts in the future from existing clients as well as expand our client base in Colombia and nearby countries.
Several indicators support our confidence in the future.
• Over the last 12 months we have earned over $4 million of revenue in Colombia. The last revenue earned related to a U.S. $431,000 SFD® survey as announced on February 2, 2010. We completed flight operations in Q1 2010 and the final report was delivered in early April. In accordance with U.S. GAAP the revenue will be recognized in Q2 2010. We believe that we can build on this success in our second year in Colombia.
• NXT’s existing clients represent a large market share in Colombia. In aggregate they operate 43% of the land released for exploration in Colombia.
• In 2010 we are seeing positive responses to the many technical presentations delivered to industry professionals in Colombia, Canada and other international locations. Our presentations, based upon requests from industry, now address more directly the underlying physical science related to SFD®. This positive response to these presentations indicates a growing acceptance of the fundamental scientific principles of SFD.
• There now exists a body of SFD® survey data and reports prepared for Colombia that provide evidence on the effectiveness of SFD® as an exploration tool in frontier regions. The evidence includes data integration projects where the staffs of both NXT and clients have collaborated to integrate SFD® data with other available geological and geophysical data including drilling results. These projects demonstrate the correlation between SFD® recommendations and areas with reservoir potential.
• As a consequence of these SFD® survey activities in Colombia we now have a number of respected industry professionals within client organizations who are advocates for the SFD® technology. These individuals now provide valuable industry references not only to other companies, but also to the Colombian regulatory body.
• This industry support was instrumental for the National Hydrocarbon Regulatory Agency ("ANH") of Colombia ruling on May 13, 2010 that SFD® surveys qualify as a work commitment for the upcoming 2010 Bid Round in Colombia.
• Our growing industry and regulatory recognition continues to support sales initiatives not just in Colombia but now also in Peru as well as other international locations. Currently we have several companies where key decision makers have expressed interest in utilizing SFD® surveys to support their exploration programs. The Company’s sales "hopper" is larger than ever experienced in prior years.
The impact of this growing industry stature on our 2010 revenue is not determinable at this time. The conversion of a potential client’s interest into an SFD® contract is impacted by factors that we cannot directly control. The timing of their actual requirement, availability of capital budgets, their negotiations with partners and often protracted inter-departmental decision making processes all may delay or indefinitely postpone the execution of an SFD® survey contract despite their genuine interest in and need for our services.
We are encouraged by the level of industry interest in our services and the number of quality survey programs we have been asked to quote on. We believe we have entered into a new phase for our company.
NXT is a Calgary based company providing airborne detection solutions to support hydrocarbon exploration enabling our clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. NXT’s proprietary airborne Stress Field Detection ("SFD®") survey system provides a unique survey method that remotely identifies potential traps and reservoirs. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain whether onshore or offshore. NXT provides its clients an efficient and reliable method to conduct frontier surveys to support exploration. SFD® is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statement This news release includes a forward-looking statement. When used in this document, words such as “see”, “anticipate” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statement.For further information contact:
| Ken Rogers, VP Finance and CFO |
| NXT Energy Solutions Inc. |
| Suite 1400, 505 3rd Street, S.W., |
| Calgary, Alberta, Canada T2P 3E6 |
| Tel: (403) 264-7020 |
| Fax: (403) 264-6442 |
| nxt_info@nxtenergy.com |
| www.nxtenergy.com |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
Wednesday May 19, 2010
NXT Energy Solutions Inc. (“NXT” or “the Company”) .
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
CALGARY, ALBERTA –NXT Energy Solutions Inc, (“NXT” or “the Company”) is pleased to announce that the Hydrocarbon Regulatory Agency (“ANH”) of Colombia has confirmed that the Company’s proprietary SFD® survey qualifies as a work commitment for the upcoming 2010 Bid Round in Colombia within the category of “remote sensing”.
The official Spanish version can be found at on page 2, question 4 of the ANH document located at: http://www.rondacolombia2010.com/imagenes/pregunta/054_14_05_2010_Preguntas_con_respuesta.pdf
This formal validation by the ANH of the SFD® survey system as a “remote sensing” methodology means clients and potential clients can bid an SFD® survey program within their overall work commitment with the knowledge that these survey dollars will be included in their bid valuation by the ANH. This is important for NXT as most companies only expend exploration dollars that qualify under a work commitment.
“We are delighted with the ANH taking such a clear and positive position on SFD®” says George Liszicasz the company’s President and CEO, “this development confirms the good progress we are making in our objective to become a very respected survey service provider in Colombia. Our goal now is to expand our operations from our Colombia base into other Latin American countries such as Peru, Guatemala and Paraguay”.
NXT is a Calgary based company providing airborne detection solutions to support hydrocarbon exploration enabling our clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. NXT’s proprietary airborne Stress Field Detection ("SFD®") survey system provides a unique survey method that remotely identifies potential traps and reservoirs. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain whether onshore or offshore. NXT provides its clients an efficient and reliable method to conduct frontier surveys to support exploration. SFD® is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statement This news release includes a forward-looking statement. When used in this document, words such as “see”, “anticipate” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statement.For further information contact:
| Ken Rogers, VP Finance and CFO |
| NXT Energy Solutions Inc. |
| Suite 1400, 505 3rd Street, S.W., |
| Calgary, Alberta, Canada T2P 3E6 |
| Tel: (403) 264-7020 |
| Fax: (403) 264-6442 |
| nxt_info@nxtenergy.com |
| www.nxtenergy.com |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
Thursday, May 06, 2010
NXT Energy Solutions Inc.
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
CALGARY, ALBERTA- NXT Energy Solutions Inc. (“NXT” or “the Company") is is pleased to announce its financial and operating results for the year ended December 31, 2009. All selected and referenced financial information should be read in conjunction with the audited consolidated financial statements and management discussion and analysis that were filed on SEDAR at www.sedar.com, on EDGAR at www.sec.gov/edgar.shtml and on NXT’s website at www.nxtenergy.com.
| For the year ended December 31, | |||
| (Expressed in Canadian Dollars) | 2009 | 2008 | 2007 |
| Survey revenue | $3,683,326 | $2,944,470 | $5,605,432 |
| Net income (loss) after income tax | ($2,405,125) | ($1,141,291) | $350,431 |
| Net income (loss) per share unit; basic and diluted | ($0.08) | ($0.04) | $0.01 |
| Net cash generated (used) by operating activities | ($2,580,308) | ($1,816,150) | $3,851,850 |
| Cash and short term investments | $4,174,145 | $6,894,170 | $7,640,962 |
| Total assets | $6,005,640 | $7,600,609 | $9,142,535 |
| Total liabilities | $972,323 | $700,651 | $3,298,577 |
| Number of common shares issued and outstanding | 30,701,796 | 30,676,796 | 29,713,381 |
We are pleased with our Company’s resilience following significant economic events originating in 2008. Exploration activity seriously diminished in Canada as a result of the credit crisis and falling commodity prices. In response the Company adopted an international strategy in late 2008 with an objective to find revenue opportunities outside of Canada for our proprietary SFD® survey.
We are happy to report achieving success in this objective and have now developed a respected market position in Colombia that we intend to utilize as a “springboard” to other international markets.
Colombia has many characteristics desirable for achieving market success for our SFD® survey system. Colombia was recently described as a “magnet for exploration and production companies” by the Wall Street Journal. With a business friendly approach and practical resource policies, Colombia attracts a large number of exploration and production companies from around the world. Each of these companies is confronted with significant challenges in acquiring the geological and geophysical data required to evaluate unexplored land. Obstacles include rain forests, environmental and community restrictions, security concerns and the high cost of seismic. SFD® is a very effective tool to help overcome these problems.
These operational SFD® advantages were recognized in Colombia resulting in early commercial and technical successes.
Our first contract for U.S. $2.3 million was conducted in the second quarter of 2009. Our SFD® survey of 1,800 kilometers replaced, at no extra cost to our client, a 100 kilometer seismic survey commitment. Notably, permits for a seismic program may take six months with the actual seismic survey taking potentially another year. By contrast the SFD® survey was completed in only two months. The interpreted SFD® report provided our client with data to evaluate their block, focus future seismic programs and support a decision to relinquish un-prospective land back to the government.
Later in 2009 we completed a U.S. $1.0 million survey with an independent operating subsidiary of a large Colombian oil company. This client is currently planning and conducting seismic and drilling programs in the surveyed areas on targets identified by SFD®.
In the first quarter of 2010 a national oil company, controlling large unexplored blocks in Colombia, contracted NXT for a pilot program to evaluate SFD® in both their onshore and offshore concession areas. We completed flying the surveys in early March and delivered the final report to the client mid April.
In less than a year we have been contracted to provide nearly Cdn. $4.0 million of surveys by three large Colombian operators. Jointly, these three companies with their partners control approximately 43% of the large blocks available for survey in Colombia and are also active in other Latin American markets.
In the same period we developed a Colombian team and set up a branch office in Bogota. NXT is currently very active in marketing its SFD® survey services to other Colombian based companies as well as offering previously obtained SFD® survey data to companies for their evaluation of Colombia 2010 bid round lands. We have now contacted over 30 companies operating in Colombia and are diligently pursuing these leads.
In addition to conducting revenue surveys for our three current clients, we have been active in conducting non-revenue blind tests for these clients as well as for another large international company. The purpose of these tests is to demonstrate SFD® survey effectiveness in a number of geological formations, both onshore and offshore. The tests involve conducting an SFD® survey over an area where the client possesses non-public geological data. NXT then works with the client to integrate and compare the SFD interpreted results with their existing data. Clients have advised that we have satisfied these initial tests to evaluate SFD®.
Penetrating the Colombian market has resulted in additional costs being incurred by the company which we believe are important for the development of our business plan. These costs included the devotion of management and technical resources in country, the conducting of the blind tests and other expenses that might be reduced in the future. Management will continue to evaluate our overall business plan including cost structure, management and technical resources and our marketing plan for Colombia and elsewhere with the objective of achieving revenue growth and profitability. However we must caution that we are in an early stage of market adoption of SFD® (particularly given the size of the market potential) and our revenue could still be uneven as clients assess how to best utilize SFD® within their exploration programs.
We believe the strength of our technology, the continued build-out of our team and the endorsements we are earning from our customers will position us for growing success over the coming years. We plan to build on our current success in Colombia and use this success to open up other new market opportunities.
About NXT
NXT is a Calgary based company providing airborne detection solutions to support hydrocarbon exploration enabling our clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. NXT’s proprietary airborne Stress Field Detection ("SFD®") survey system provides a unique survey method that remotely identifies potential traps and reservoirs. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain whether onshore or offshore. NXT provides its clients an efficient and reliable method to conduct frontier surveys to support exploration. SFD® is the registered trademark of NXT Energy Solutions Inc.
For further information contact:
| Ken Rogers, VP Finance and CFO |
| NXT Energy Solutions Inc. |
| Suite 1400, 505 3rd Street, S.W., |
| Calgary, Alberta, Canada T2P 3E6 |
| Tel: (403) 264-7020 |
| Fax: (403) 264-6442 |
| nxt_info@nxtenergy.com |
| www.nxtenergy.com |
Forward-Looking Statements
This news release includes forward-looking statements. When used in this document, words such as “plan”, “see”, “anticipate” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
Tuesday, February 2nd , 2010
NXT Energy Solutions Inc. (“NXT” or “the Company”) .
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
CALGARY, ALBERTA- NXT Energy Solutions Inc. (“NXT” or “the Company") is pleased to report that it has been awarded a U.S. $431,000 SFD® contract by a significant operator in Columbia to survey offshore and onshore areas. Survey operations are scheduled to commence mid February 2010 and a final report is scheduled for delivery during the first quarter of 2010.
“We are delighted with our growing market position in Colombia since we arrived in the country last year as evidenced by the award of this third SFD® contract”, said George Liszicasz, CEO and President. “We are encouraged that SFD® is gaining early acceptance with reputable operators and see opportunities for more SFD® revenue in Columbia and throughout the region.”
NXT is a Calgary based company providing airborne detection solutions to support hydrocarbon exploration enabling our clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. NXT’s proprietary airborne Stress Field Detection ("SFD®") survey system provides a unique survey method that remotely identifies potential traps and reservoirs. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain whether onshore or offshore. NXT provides its clients an efficient and reliable method to conduct frontier surveys to support exploration. SFD® is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statement This news release includes a forward-looking statement. When used in this document, words such as “see”, “anticipate” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statement.For further information contact:
| Ken Rogers, VP Finance and CFO |
| NXT Energy Solutions Inc. |
| Suite 1400, 505 3rd Street, S.W., |
| Calgary, Alberta, Canada T2P 3E6 |
| Tel: (403) 264-7020 |
| Fax: (403) 264-6442 |
| nxt_info@nxtenergy.com |
| www.nxtenergy.com |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.
Monday, October 26, 2009
NXT Energy Solutions Inc.
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
CALGARY, ALBERTA- NXT Energy Solutions Inc. (“NXT” or “the Company") is pleased to announce the execution of a contract with a new client, a Colombia-based international oil and gas company, to conduct an SFD™ survey in Colombia. The contract calls for NXT to complete a U.S. $576,000 survey and to provide the client an option to receive a second survey for an additional U.S. $360,000. In addition the client shall pay a fee for the mobilization of the aircraft.
NXT and Air Partners are preparing for an immediate aircraft ferry flight from Canada to Colombia. SFD™ surveys are planned to commence in Colombia in the first week of November with completion scheduled in 2009.
“This new contract reaffirms that SFD™ is becoming recognized as a solution to overcome the significant onshore exploration challenges facing many oil and gas companies,” says George Liszicasz NXT’s CEO and President. “We are confident that our success in Colombia has opened up an exciting new stage in NXT’s business development.”
About NXT
NXT is in the business of providing wide-area airborne services to clients utilizing its proprietary SFD™ Survey System to search for new oil and gas fields. The Company rapidly identifies and ranks prospective areas with sub-surface structure and charged reservoir potential. The service provides an efficient, cost-effective method for surveying large tracts of land and delivering an inventory of high impact SFD™ qualified prospects.
For further information contact:
| Ken Rogers, VP Finance and CFO | Dave Burwell |
| NXT Energy Solutions Inc. | The Howard Group |
| Suite 1400, 505 3rd Street, S.W., | Suite 300, 1032 17th Ave. S.W. |
| Calgary, Alberta, Canada T2P 3E6 | Calgary, Alberta, Canada T2T 0A5 |
| Tel: (403) 264-7020 | Tel: (403) 221-0915 |
| Fax: (403) 264-6442 | Fax: (403) 237-8387 |
| nxt_info@nxtenergy.com | info@howardgroupinc.com |
| www.nxtenergy.com | www.howardgroupinc.com |
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may include forward-looking statements including opinions, assumptions, estimates and expectations of future prospects for the Company and financial projections. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intend," "may," "project," "plan,", ”schedule”, "will," "should" and similar expressions are intended to be among the statements that identify forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable; there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, the volatility of oil and gas prices, the ability to implement corporate strategies, the state of capital markets, the ability to obtain financing, changes in the oil and gas industry, operating risks, reserve estimates, changes in general economic conditions and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities.
Neither the TSX-Venture nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this news release.
Tuesday, October 6, 2009
Filed Via SEDAR
British Columbia Securities Commission
Alberta Securities Commission
Saskatchewan Securities Commission
Manitoba Securities Commission
Ontario Securities Commission
Autorité des Marchés Financiers
Government of New Brunswick, Securities Administration Branch
Nova Scotia Securities Commission
Securities Commission of Newfoundland & Labrador
Prince Edward Island, Dept. of Community Affairs & Attorney General
Government of Yukon, Registrar of Securities
Government of the Northwest Territories, Registrar of Securities
Government of Nunavut, Registrar of Securities
TSX Venture Exchange
Dear Sirs:
Subject: NXT Energy Solutions Inc. (the "Corporation")
Notice of Meeting and Record Date
We are pleased to confirm the following information with respect to the Corporation's upcoming Annual General Meeting of security holders:
| Meeting Date: | December 1, 2009 |
| Record Date for Notice: | October 31, 2009 |
| Record Date for Voting: | October 31, 2009 |
| Beneficial Ownership Determination Date: | October 31, 2009 |
| Class of Securities Entitled to Receive Notice: | Common shares |
| Class of Securities Entitled to Vote: | Common shares |
| ISIN Number: | CA62948Q1072 |
| Meeting Location: | Calgary, AB |
In accordance with applicable securities regulations we are filing this information with you in our capacity as agent of the Corporation.
Yours truly,
OLYMPIA TRUST COMPANY
Oxana Rubinstein
Corporate Administrator
Corporate & Shareholder Services Direct Dial: (403) 668-8353
cc: CDS & Co.
| CALGARY Corporate & Shareholder Services 2300, 125 - 9th Avenue SE Calgary, AB T2G 0P6 Tel: 403-261-0900 Fax: 403-265-1455 |
VANCOUVER Corporate & Shareholder Services 1900, 925 West Georgia Street Vancouver, BC V6C 3L2 Tel: 604-484-8637 Fax: 604-484-8638 |
TORONTO OLYMPIA TRANSFER SERVICES INC. Corporate & Shareholder Services 920 - 120 Adelaide St. West Toronto, ON M5H 1T1 Tel: 416-364-8081 Fax: 416-364-1827 |
Tuesday, September 29, 2009
NXT Energy Solutions Inc.
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
CALGARY, ALBERTA - NXT Energy Solutions Inc. (“NXT” or “the Company”) is pleased to announce that the Company’s Chief Executive Officer, George Liszicasz and Chief Financial Officer, Ken Rogers are scheduled to present at the 2009 RedChip New York Equities Conference in New York City on September 30th. The Company’s presentation is scheduled for 11:05am. Eastern Time at the NASDAQ MarketSite (4 Times Square, at 43rd and Broadway) and will be webcast live and archived for 90 days at http://www.RedChip.com
Mr. Liszicasz and Mr. Rogers will provide an overview on NXT, its proprietary SFD™ survey technology and its recent operations in Colombia.
For additional information or to schedule a one-on-one meeting with NXT at this event, please contact Jon Cunningham at 407-644-4256, Ext. 107, or email conference@redchip.com.
About NXT
NXT is in the business of providing wide-area airborne services to clients utilizing its proprietary SFD™ Survey System to search for new oil and gas fields. The Company rapidly identifies and ranks prospective areas with sub-surface structure and charged reservoir potential. The service provides an efficient, cost-effective method for surveying large tracts of land and delivering an inventory of high impact SFD™ qualified prospects.
About RedChip Companies, Inc.
RedChip Companies is an international, small-cap research and financial public relations firm headquartered in Orlando, Florida; with affiliate offices in Qingdao, China; Paris, and San Diego. Since 1993, RedChip has been a source for small-cap research and investor awareness services for emerging growth companies, delivering concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors.
RedChip Contact Info:
RedChip Companies, Inc.
Jon Cunningham
1-800-733-2447, Ext. 107
info@redchip.com
For further information contact:
| Ken Rogers, VP Finance and CFO | Dave Burwell |
| NXT Energy Solutions Inc. | The Howard Group |
| Suite 1400, 505 3rd Street, S.W., | Suite 300, 1032 17th Ave. S.W. |
| Calgary, Alberta, Canada T2P 3E6 | Calgary, Alberta, Canada T2T 0A5 |
| Tel: (403) 264-7020 | Tel: (403) 221-0915 |
| Fax: (403) 264-6442 | Fax: (403) 237-8387 |
| nxt_info@nxtenergy.com | info@howardgroupinc.com |
| www.nxtenergy.com | www.howardgroupinc.com |
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may include forward-looking statements including opinions, assumptions, estimates and expectations of future prospects for the Company and financial projections. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intend," "may," "project," "plan,", ”schedule”, "will," "should" and similar expressions are intended to be among the statements that identify forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable; there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, the volatility of oil and gas prices, the ability to implement corporate strategies, the state of capital markets, the ability to obtain financing, changes in the oil and gas industry, operating risks, reserve estimates, changes in general economic conditions and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities.
Neither the TSX-Venture nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this news release.
Monday, September 21, 2009
NXT Energy Solutions Inc.
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
CALGARY, ALBERTA - NXT Energy Solutions Inc. (“NXT” or “the Company”) is pleased to provide an operational update
Financial Highlights ($Cdn.)
| Key Financial Indicators | ||||
| 3 months ended June 30 | 6 months ended June 30 | |||
| 2009 | 2008 | 2009 | 2008 | |
| Total revenue | $2,638,759 | $1,749,076 | $2,638,987 | $1,755,659 |
| Net income (loss) | 283,005 | 806,619 | (764,076) | 94,742 |
| Financial Position at end of the period | June 30, 2009 | December 31, 2008 | ||
| Cash & Short Term Investments | $4,741,090 | $6,894,170 | ||
| Accounts Receivable | 2,462,094 | 20,569 | ||
| Total Assets | 7,947,274 | 7,600,609 | ||
| Total Liabilities | 1,522,669 | 700,651 | ||
| Shareholders Equity | 6,424,605 | 6,899,958 | ||
This financial summary should be read in conjunction with the Company’s second quarter 2009 interim financial statements as filed on our website www.nxtenergy.com on August 29, 2009.
Our balance sheet remains strong with cash reserves and no debt.
During the second quarter of 2009 NXT transitioned into the international arena with the completion of a US $2.3 million SFD™ survey contract in Colombia. We are encouraged by our early stage international success.
The costs to complete this first Colombian contract were greater than costs previously experienced in Canada. Some extra expenses are structural, requiring a permanent increase in management, geoscientists, sales, marketing and other personnel plus the cost for local representation. Other expenses are more start-up in nature, such as costs incurred to gain market intelligence, establish a market presence and learn how to operate in a foreign country. Notwithstanding these extra costs we are pleased to report a profit in the quarter.
We are confident that these new expenditures are strategically important and will serve to open-up a large market opportunity for our SFD™ survey services not only in Colombia but also to stimulate future opportunities in Latin America and throughout the world. As we implement this business plan we project our operating costs will decline as a percentage of revenue and overall company profitability will grow.
Colombian & Latin America Strategy
Colombia was selected very deliberately as a preliminary strategic focus for NXT following our evaluation of a number of different potential international regions. Colombia’s appeal was due to several factors including: significant anticipated oil and gas potential, good government policies, a fair taxing structure, greatly improved national security and good political stability that have stimulated a significant growth in exploration activity in the country.
The completion of this first international contract is significant in two ways. First, it illustrates the adaptability of our business to quickly move into new market locations. Within months of a market crisis in 2008 we implemented a new international market plan that has now generated revenue. Secondly, market intelligence gained while in Colombia has confirmed the significant market opportunity for SFD™ services not only in Colombia but also throughout Latin America.
SFD Technology – Colombian Advantage
The recent Colombian survey provides a strong case study to illustrate the SFD™ advantage. To meet a deadline our client replaced a time consuming and expensive ground-based seismic survey commitment with an SFD™ survey. Their survey area was challenging due to its remoteness, mountain and jungle terrain, extreme weather conditions as well as security and community concerns. The unique ability of NXT to conduct SFD™ surveys at high altitudes (up to 3km, or 10,000 ft) overcame these difficulties allowing completion of the survey and the delivery of the final report in just 7 weeks. We not only met the client’s deadline but also provided them with critical data to evaluate their block. This survey has provided NXT with an important client reference within the Colombian marketplace.
The SFD™ advantage and growing reputation of our company within Colombia was evident at a geological and geophysical technical symposium in Cartagena, Colombia attended by NXT in late July 2009. Over 25 regional exploration companies expressed interests in SFD™.
Colombia Business Development
To fast track our sales efforts we have engaged Edgar Baquero, a M.Sc. geologist as our Latin America business development manager. Mr. Baquero is a respected Bogota based professional with 25 years of exploration experience in Latin America. He has served in Latin America as manager for Ecopetrol, vice president-Latin America for Wavefield-Inseis and multi-client seismic sales representative for CGGVeritas. Mr. Baquero shall provide NXT with a permanent representative office in Colombia and provide strong local representation to pursue the numerous business opportunities identified both within Colombia and through-out Latin America.
Sale Activities and Opportunities in Colombia
NXT continues to ramp-up our sales and marketing resources and activities in the region. Numerous sales meetings with prospective clients have either been completed or are scheduled in the near future.
The actual survey potential for NXT within Colombia and the timing of future revenue is still too early to determine, however, we are encouraged by the size of the Colombian opportunity for NXT, the quality of the prospective clients we are meeting with and their level of interest in our services.
Upcoming Conferences being attended by NXT
• Bogota, Colombia (September 24), - NXT will be presenting to the Association of Colombian Petroleum Geologists and Geophysicists at their monthly meeting.
• New York, NY (September 30) - NXT will be presenting at the RedChip Equities Conference in New York. The Company’s presentations will be webcast live and archived for 90 days at http://www.RedChip.com.
In addition, NXT will be in attendance at the following conferences where we are scheduled to meet with technical representatives of prospective Latin America clients:
• Houston (October 25-30) - Society of Exploration Geophysicists (SEG) Annual Meeting
• Houston (October 29-30) – Latin America Conference
• Rio de Janeiro, Brazil (November 15 to 18) – International Association of Petroleum Geologists
NXT is in the business of providing wide-area airborne services to clients utilizing its proprietary SFD Survey System to search for new oil and gas fields. The Company rapidly identifies and ranks prospective areas with sub-surface structure and reservoir potential. Our service provides an efficient, cost effective method for surveying large tracts of land and delivering an inventory of high impact SFD qualified prospects.
For further information contact:
| Ken Rogers, VP Finance and CFO | Dave Burwell |
| NXT Energy Solutions Inc. | The Howard Group |
| Suite 1400, 505 3rd Street, S.W., | Suite 300, 1032 17th Ave. S.W. |
| Calgary, Alberta, Canada T2P 3E6 | Calgary, Alberta, Canada T2T 0A5 |
| Tel: (403) 264-7020 | Tel: (403) 221-0915 |
| Fax: (403) 264-6442 | Fax: (403) 237-8387 |
| nxt_info@nxtenergy.com | info@howardgroupinc.com |
| www.nxtenergy.com | www.howardgroupinc.com |
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may include forward-looking statements including opinions, assumptions, estimates and expectations of future prospects for the Company and financial projections. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intend," "may," "project," "plan,", ”schedule”, "will," "should" and similar expressions are intended to be among the statements that identify forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable; there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, the volatility of oil and gas prices, the ability to implement corporate strategies, the state of capital markets, the ability to obtain financing, changes in the oil and gas industry, operating risks, reserve estimates, changes in general economic conditions and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities.
Neither the TSX-Venture nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this news release.
Thursday, July 23, 2009
NXT Energy Solutions Inc.
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
CALGARY, ALBERTA - NXT Energy Solutions Inc. (“NXT” or “the Company”) is pleased to announce its participation at the 10th Symposium of Bolivariano Petroleum Exploration in Cartagena, Colombia from July 26th to 29th, 2009. At the Symposium, the Company will showcase the capabilities of its SFD® technology and past success within the demanding and growing Colombian marketplace. NXT’s attendance at this Symposium highlights its commitment to undertake focused sales and marketing efforts in Colombia.
“The recently completed SFD® survey in Colombia for Pacific Rubiales Energy Corp., one of the leading and fastest growing exploration & production companies in the country, has demonstrated the role SFD® surveys can play in opening up the vast under-explored basins of Colombia” said George Liszicasz NXT’s President and CEO.
Please visit NXT at Booth 41 at the Symposium. In addition to Mr. Liszicasz, NXT will be represented by all members of its senior management team; including Murray Christie, the Company’s Chief Operating Officer, Andy Steedman, Vice President Operations and Ken Rogers, Chief Financial Officer of NXT. The NXT team will be available to discuss high altitude SFD® survey applications in both onshore and offshore environments throughout the world.
NXT is in the business of providing wide-area airborne services to clients utilizing its proprietary SFD Survey System to search for new oil and gas fields. The Company rapidly identifies and ranks prospective areas with sub-surface structure and reservoir potential. Our service provides an efficient, cost effective method for surveying large tracts of land and delivering an inventory of high impact SFD qualified prospects.
For further information contact:
| Ken Rogers, VP Finance and CFO | Dave Burwell |
| NXT Energy Solutions Inc. | The Howard Group |
| Suite 1400, 505 3rd Street, S.W., | Suite 300, 1032 17th Ave. S.W. |
| Calgary, Alberta, Canada T2P 3E6 | Calgary, Alberta, Canada T2T 0A5 |
| Tel: (403) 264-7020 | Tel: (403) 221-0915 |
| Fax: (403) 264-6442 | Fax: (403) 237-8387 |
| nxt_info@nxtenergy.com | info@howardgroupinc.com |
| www.nxtenergy.com | www.howardgroupinc.com |
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may include forward-looking statements including opinions, assumptions, estimates and expectations of future prospects for the Company and financial projections. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intend," "may," "project," "plan,", ”schedule”, "will," "should" and similar expressions are intended to be among the statements that identify forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable; there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, the volatility of oil and gas prices, the ability to implement corporate strategies, the state of capital markets, the ability to obtain financing, changes in the oil and gas industry, operating risks, reserve estimates, changes in general economic conditions and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities.
Neither the TSX-Venture nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this news release.
Wednesday, July 15, 2009
NXT Energy Solutions Inc. (“NXT” or “the Company”)
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
CALGARY, ALBERTA - NXT Energy Solutions Inc. is pleased to announce the completion of the previously announced U.S. $2.3 million SFD Survey in Colombia on June 30, 2009 for a Colombian subsidiary of Pacific Rubiales Energy Corp. (TSX “PRE”).
NXT shall recognize this revenue in the second quarter of 2009. To date the Company has received payments of US $1.0 million and the remaining payments are due within 30 days. The Company’s balance sheet remains strong, currently holding cash and short term investments of Cdn. $5.5 million with no debt.
NXT is in the business of providing wide-area airborne services to clients utilizing its proprietary SFD Survey System to search for new oil and gas fields. The Company rapidly identifies and ranks prospective areas with sub-surface structure and reservoir potential. Our service provides an efficient, cost effective method for surveying large tracts of land and delivering an inventory of high impact SFD qualified prospects.
For further information contact:
| Ken Rogers, VP Finance and CFO | Dave Burwell |
| NXT Energy Solutions Inc. | The Howard Group |
| Suite 1400, 505 3rd Street, S.W., | Suite 300, 1032 17th Ave. S.W. |
| Calgary, Alberta, Canada T2P 3E6 | Calgary, Alberta, Canada T2T 0A5 |
| Tel: (403) 264-7020 | Tel: (403) 221-0915 |
| Fax: (403) 264-6442 | Fax: (403) 237-8387 |
| nxt_info@nxtenergy.com | info@howardgroupinc.com |
| www.nxtenergy.com | www.howardgroupinc.com |
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may include forward-looking statements including opinions, assumptions, estimates and expectations of future prospects for the Company and financial projections. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intend," "may," "project," "plan,", ”schedule”, "will," "should" and similar expressions are intended to be among the statements that identify forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable; there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, the volatility of oil and gas prices, the ability to implement corporate strategies, the state of capital markets, the ability to obtain financing, changes in the oil and gas industry, operating risks, reserve estimates, changes in general economic conditions and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities.
Neither the TSX-Venture nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this news release.
Tuesday, June 23, 2009
NXT Energy Solutions Inc. (“NXT” or “the Company”)
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
CALGARY, ALBERTA - NXT is pleased to announce a teleconference and webcast where NXT’s management shall provide an operational update and a discussion of our Q1 2009 financial results.
We will specifically provide an update on the previously announced U.S. $2.3 million survey contract in Colombia. We recently completed flight operations for this contract. Our interpretation of the SFD® data is ongoing and we are scheduled to deliver our preliminary report to the client by the end of June. To date we have submitted two progress invoices in aggregate for the amount of U.S. $1.9 million pursuant to this contract.
Particulars for the conference call are as follows:
Live Web Conference Call
Date: Thursday June 25, 2009
Time: 2:30 pm MDT / 4:30 pm EDT
To access the conference call please phone:
Direct: (913) 312-1491
Toll Free: (888) 218-8176
Ask the attendant for the “NXT Conference Call”
For those who prefer to join by webcast, an “NXT Conference Call” link will be displayed on the home page of NXT’s website at www.nxtenergy.com .
NXT is in the business of providing wide-area airborne services to clients utilizing its proprietary SFD Survey System to search for new oil and gas fields. The Company rapidly identifies and ranks prospective areas with sub-surface structure and reservoir potential. Our service provides an efficient, cost effective method for surveying large tracts of land and delivering an inventory of high impact SFD qualified prospects.
For further information contact:
| Ken Rogers, VP Finance and CFO | Dave Burwell |
| NXT Energy Solutions Inc. | The Howard Group |
| Suite 1400, 505 3rd Street, S.W., | Suite 300, 1032 17th Ave. S.W. |
| Calgary, Alberta, Canada T2P 3E6 | Calgary, Alberta, Canada T2T 0A5 |
| Tel: (403) 264-7020 | Tel: (403) 221-0915 |
| Fax: (403) 264-6442 | Fax: (403) 237-8387 |
| nxt_info@nxtenergy.com | info@howardgroupinc.com |
| www.nxtenergy.com | www.howardgroupinc.com |
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may include forward-looking statements including opinions, assumptions, estimates and expectations of future prospects for the Company and financial projections. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intend," "may," "project," "plan,", ”schedule”, "will," "should" and similar expressions are intended to be among the statements that identify forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable; there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, the volatility of oil and gas prices, the ability to implement corporate strategies, the state of capital markets, the ability to obtain financing, changes in the oil and gas industry, operating risks, reserve estimates, changes in general economic conditions and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities.
Neither the TSX-Venture nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this news release.
Tuesday, June 16, 2009
NXT Energy Solutions Inc. (“NXT” or “the Company”)
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
CALGARY, ALBERTA - NXT Energy Solutions Inc. (“NXT” or “the Company") announces that it has closed a private placement financing of 25,000 common shares of the Company ("Common Shares") at a price of Cdn. $2.01 per Common Share for aggregate gross proceeds of $50,250. The subscriber to this private placement is a spouse of an officer of the Company and this private placement satisfies a commitment to acquire Common Shares that originated in 2008. The Common Shares are subject to a four month hold period.
NXT is in the business of providing wide-area airborne services to clients utilizing its proprietary SFD Survey System to search for new oil and gas fields. The Company rapidly identifies and ranks prospective areas with sub-surface structure and reservoir potential. Our service provides an efficient, cost effective method for surveying large tracts of land and delivering an inventory of high impact SFD qualified prospects.
For further information contact:
| Ken Rogers, VP Finance and CFO | Dave Burwell |
| NXT Energy Solutions Inc. | The Howard Group |
| Suite 1400, 505 3rd Street, S.W., | Suite 300, 1032 17th Ave. S.W. |
| Calgary, Alberta, Canada T2P 3E6 | Calgary, Alberta, Canada T2T 0A5 |
| Tel: (403) 264-7020 | Tel: (403) 221-0915 |
| Fax: (403) 264-6442 | Fax: (403) 237-8387 |
| nxt_info@nxtenergy.com | info@howardgroupinc.com |
| www.nxtenergy.com | www.howardgroupinc.com |
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may include forward-looking statements including opinions, assumptions, estimates and expectations of future prospects for the Company and financial projections. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intend," "may," "project," "plan,", ”schedule”, "will," "should" and similar expressions are intended to be among the statements that identify forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable; there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, the volatility of oil and gas prices, the ability to implement corporate strategies, the state of capital markets, the ability to obtain financing, changes in the oil and gas industry, operating risks, reserve estimates, changes in general economic conditions and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities.
Neither the TSX-Venture nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this news release.
Wednesday, May 13, 2009
NXT Energy Solutions Inc. (“NXT” or “the Company”)
Trading Symbol - “SFD”–TSX-V; “NSFDF”–NASDAQ-OTCBB
CALGARY, ALBERTA- NXT Energy Solutions Inc. (“NXT” or “the Company") is pleased to announce the execution of a contract with a Canadian-based international oil and gas company to conduct an SFD survey in Colombia and the commencement of these survey operations. The fee for this survey is U.S. $2.3 million. This contract represents the negotiated “definitive agreement” as discussed in NXT’s December 31, 2008 Financial Statements and Management’s Discussion and Analysis.
Murray Christie, NXT’s COO states “Colombia, with attractive fiscal terms, political stability and strong industry growth, is an exciting country for NXT to initiate operations in Latin America. Our SFD survey system is well suited to meet the technical, logistical and financial challenges associated with surveying the large under-explored basins of Colombia.”
The Company has executed an aircraft charter agreement with Air Partners Corp. to provide aircraft, crew and maintenance services for SFD survey operations utilizing their fleet of Cessna Citation 560 series jet aircraft. NXT’s minimum aircraft charter commitment under this agreement is Cdn. $400,000 over the next 12 months.
NXT and Air Partners are preparing for an immediate aircraft ferry flight from Canada to Colombia. SFD surveys are planned to commence in Colombia this month with delivery of the preliminary SFD survey report to our client scheduled for the end of June.
Air Partners Corp., in conjunction with its parent Morgan Air Services, has provided aviation related services worldwide since 1983. The Air Partner team consists of respected aviation experts and industry leaders including, most notably, their President & CEO, Mr. Tim Morgan. In 1995, Mr. Morgan became one of four founding shareholders of WestJet Airlines Ltd. and served as Executive Vice-President of Operations until 2005. Today Westjet is the second largest air carrier in Canada.
NXT is in the business of providing wide-area airborne services to clients utilizing its proprietary SFD Survey System to search for new oil and gas fields. The Company rapidly identifies and ranks prospective areas with sub-surface structure and reservoir potential. Our service provides an efficient, cost effective method for surveying large tracts of land and delivering an inventory of high impact SFD qualified prospects.
For further information contact:
| Ken Rogers, VP Finance and CFO | Dave Burwell |
| NXT Energy Solutions Inc. | The Howard Group |
| Suite 1400, 505 3rd Street, S.W., | Suite 300, 1032 17th Ave. S.W. |
| Calgary, Alberta, Canada T2P 3E6 | Calgary, Alberta, Canada T2T 0A5 |
| Tel: (403) 264-7020 | Tel: (403) 221-0915 |
| Fax: (403) 264-6442 | Fax: (403) 237-8387 |
| nxt_info@nxtenergy.com | info@howardgroupinc.com |
| www.nxtenergy.com | www.howardgroupinc.com |
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may include forward-looking statements including opinions, assumptions, estimates and expectations of future prospects for the Company and financial projections. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intend," "may," "project," "plan,", ”schedule”, "will," "should" and similar expressions are intended to be among the statements that identify forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable; there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, the volatility of oil and gas prices, the ability to implement corporate strategies, the state of capital markets, the ability to obtain financing, changes in the oil and gas industry, operating risks, reserve estimates, changes in general economic conditions and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities.
Neither the TSX-Venture nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this news release.
NXT HOSTING CONFERENCE CALL
Tuesday, April 21, 2009
NXT Energy Solutions Inc. (“NXT” or “the Company”)
“SFD” – TSX-V “NSFDF” – NASDAQ OTCBB
CALGARY, ALBERTA- NXT Energy Solutions Inc. (“NXT” or “the Company") (TSX:V) is pleased to invite you to join our management team for a conference call discussing NXT’s 2008 financial results and 2009 operations. The 2008 Financial Statements and Management Discussions and Analysis are scheduled for release after the market closes on Friday, April 24, 2009.
Particulars for the conference call are as follows
Live Web Conference Call
Date: Wednesday, April 29, 2009
Time: 2:30 pm MT /4:30 pm ET
To access the conference call please phone:
Direct : (913) 312-1491
Toll Free: (888) 218-8176
Ask the attendant for the “NXT Conference Call”
For those who prefer to join also by webcast, the “NXT Conference Call” link will be displayed on the home page of NXT’s website at www.nxtenergy.com .
NXT is in the business of providing wide-area airborne services to clients utilizing its proprietary SFD Survey System to search for new oil and gas fields. The Company rapidly identifies and ranks prospective areas with sub-surface structure and reservoir potential. Our service provides an efficient, cost effective method for surveying large tracts of land and delivering an inventory of high impact SFD qualified prospects.
For further information contact:
| Ken Rogers, VP Finance and CFO | Dave Burwell |
| NXT Energy Solutions Inc. | The Howard Group |
| Suite 1400, 505 3rd Street, S.W., | Suite 300, 1032 17th Ave. S.W. |
| Calgary, Alberta, Canada T2P 3E6 | Calgary, Alberta, Canada T2T 0A5 |
| Tel: (403) 264-7020 | Tel: (403) 221-0915 |
| Fax: (403) 264-6442 | Fax: (403) 237-8387 |
| nxt_info@nxtenergy.com | info@howardgroupinc.com |
| www.nxtenergy.com | www.howardgroupinc.com |
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
NXT ENERGY SOLUTIONS ATTENDING NAPE 2009
Calgary, Alberta, Canada Tuesday, January 27, 2009
NXT Energy Solutions Inc. (“NXT” or “the Company)
“SFD” – TSX-V; “NSFDF” – NASDAQ OTCBB; “EFW” - FRANKFURT
NXT Energy Solutions is pleased to announce its attendance at the NAPE EXPO in Houston, Texas on February 5 and 6, 2009. Please come visit us at Booth 2060. NAPE brings together an estimated 16,000 attendees from the domestic and international oil and gas industry to showcase prospects and properties. The EXPO will also feature the latest technological advancements in related products and services.
“NAPE 2009 provides an excellent environment to present our “state of the art” airborne exploration tool and network with industry peers, potential business partners and broaden our customer base” states NXT CEO George Liszicasz, “and reflects again our commitment to make SFD a mainstream exploration tool”.
NXT is in the business of providing wide-area airborne exploration services to the oil and gas industry. The Company utilizes its proprietary SFD Survey System to offer its clients a unique service to rapidly identify sub-surface structures with reservoir potential in sedimentary basins with no environmental impact. The value of the service is providing our clients with an efficient, cost effective method of surveying large tracts of land and delivering an inventory of SFD prospects with high potential.
For additional information about NXT and our SFD survey system please consult the Company’s website at. www.nxtenergy.com
For further information contact:
| Ken Rogers, VP Finance and CFO | Dave Burwell |
| NXT Energy Solutions Inc. | The Howard Group |
| Suite 1400, 505 3rd Street, S.W., | Suite 300, 1032 17th Ave. S.W. |
| Calgary, Alberta, Canada T2P 3E6 | Calgary, Alberta, Canada T2T 0A5 |
| Tel: (403) 264-7020 | Tel: (403) 221-0915 |
| Fax: (403) 264-6442 | Fax: (403) 237-8387 |
| nxt_info@nxtenergy.com | info@howardgroupinc.com |
| www.nxtenergy.com | www.howardgroupinc.com |
Forward-Looking Statements
This news release may include forward-looking statements including opinions, assumptions, estimates and expectations of future prospects for the Company and financial projections. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intend," "may," "project," "plan," "will," "should" and similar expressions are intended to be among the statements that identify forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable; there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, the volatility of oil and gas prices, the ability to implement corporate strategies, the state of capital markets, the ability to obtain financing, changes in the oil and gas industry, operating risks, reserve estimates, changes in general economic conditions and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities.
Neither the TSX-Venture nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this news release.
NXT APPOINTS CHIEF OPERATING OFFICER
Calgary, Alberta, Canada, Friday January 16, 2009
NXT Energy Solutions Inc. (“NXT” or “the Company)
“SFD” – TSX-V; “NSFDF” – NASDAQ OTCBB and “EFW” - FRANKFURT
George Liszicasz, the President and CEO of NXT Energy Solutions Inc., is pleased to announce the appointment of Mr. Murray Christie as Senior Vice President and Chief Operating Officer. Mr. Christie, reporting directly to Mr. Liszicasz, will assume overall responsibility for NXT’s operational, sales and marketing activities.
“This senior appointment demonstrates our confidence in NXT’s future,” said Mr. Liszicasz. “By separating strategic and operational responsibilities I will be better able to focus my time and energy on growth strategies and the continued development of our SFD technology.”
Mr. Christie’s career includes over 15 years of geological modeling and geophysical survey experience providing leading edge technology solutions to international and domestic oil and gas clients. He offers a track record of impressive revenue growth derived from launching technologies to the oil and gas sector. His personal attributes include strong management, sales, and technical capabilities. Mr. Christie’s previous roles include COO of Geomodeling Technology Corporation and Canadian President of Paradigm, a major international geosciences software and service provider. Mr. Christie holds a B.A. degree in economics.
“This is a really exciting time to be joining a company with a leading edge technology that has applications in the global marketplace,” said Murray Christie.
NXT is in the business of providing wide-area airborne exploration services to the oil and gas industry. The Company utilizes its proprietary SFD Survey System to offer its clients a unique service to rapidly identify sub-surface structures with reservoir potential in sedimentary basins with no environmental impact. The value of the service is providing clients with an efficient, cost effective method of surveying large tracts of land and delivering an inventory of SFD prospects with high potential.
Please see additional information about NXT and the SFD technology on the Company’s website.
For further information contact:
| Ken Rogers, VP Finance and CFO | Dave Burwell |
| NXT Energy Solutions Inc. | The Howard Group |
| Suite 1400, 505 3rd Street, S.W., | Suite 300, 1032 17th Ave. S.W. |
| Calgary, Alberta, Canada T2P 3E6 | Calgary, Alberta, Canada T2T 0A5 |
| Tel: (403) 264-7020 | Tel: (403) 221-0915 |
| Fax: (403) 264-6442 | Fax: (403) 237-8387 |
| nxt_info@nxtenergy.com | info@howardgroupinc.com |
| www.nxtenergy.com | www.howardgroupinc.com |
Forward-Looking Statements
This news release may include forward-looking statements including opinions, assumptions, estimates and expectations of future prospects for the Company and financial projections. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intend," "may," "project," "plan," "will," "should" and similar expressions are intended to be among the statements that identify forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable; there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, the volatility of oil and gas prices, the ability to implement corporate strategies, the state of capital markets, the ability to obtain financing, changes in the oil and gas industry, operating risks, reserve estimates, changes in general economic conditions and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities.
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