Formation Fluid Management Inc.-News Release
October 12 2010 - 3:00PM
Marketwired
Formation Fluid Management Inc. (the "Company") (TSX VENTURE: FFM)
is pleased to announce the appointment of Mohammed Ibrahim as Lead
Process Engineer of its operating subsidiary Formation Fluid
Technology ("FFT", formerly Produced Water Solutions Inc.).
Mohammed brings with him over 15 years of experience in the design,
construction and commissioning of industrial and municipal water
and wastewater treatment, and reverse osmosis water systems with
capacities from 500 m(3)/day to 500,000 m(3)/day. He holds a
Masters of Science in Environmental Engineering and a Bachelor of
Science in Chemical Engineering. Mohammed will act as leader of our
research and development team, whose mandate is to introduce ever
improving technology into our total water management program. "We
are very fortunate to add an engineer to our team whose training
and experience so closely match our Company's needs," said Al
Radford, CEO of FFM. "Mohammed's expertise and commitment to
teamwork make him a great fit and a welcome asset to the Formation
Fluids Group. His daily presence at our Sylvan Location puts him at
the pulse of the process and the management team."
The Company is also pleased to announce that it has opened a
sales office in Calgary, Alberta at Bow Valley Square, Suite 700,
250-5th Ave SW, T2P 2V7, telephone 403-538-5480. The Company has
also opened a new head office at #14 Thevenaz Industrial Trail,
Sylvan Lake, Alberta, T4S 2J5 telephone 403-887-8874,
info@fftinc.ca. The Sylvan Lake office will serve as the
administration office for the Company and the main operational
center for FFT.
Formation Fluids is executing on its business plan by working to
complete the engineering of its first commercial water treatment
system. Design aspects are expected to be concluded in late
October. A pre-qualification document is being prepared for
presentation to manufacturing interests and construction will
commence following selection of the manufacturer.
On behalf of the Board of Directors,
Al Radford, President & CEO
FORWARD LOOKING INFORMATION
Certain information in this news release is forward-looking
within the meaning of certain securities laws, and is subject to
important risks, uncertainties and assumptions. This
forward-looking information includes, among other things,
information with respect to the Company's beliefs, plans,
expectations, anticipations, estimates and intentions. The words
"may", "could", "should", "would", "suspect", "outlook", "believe",
"anticipate", "estimate", "expect", "intend", "plan", "target" and
similar words and expressions are used to identify forward-looking
information. The forward-looking information in this news release
describes the Company's expectations as of the date of this news
release.
The results or events anticipated or predicted in such
forward-looking information may differ materially from actual
results or events. Material factors which could cause actual
results or events to differ materially from such forward- looking
information include, among others, risks arising from general
economic conditions and adverse industry events, risks arising from
operations generally, reliance on contractual rights such as
licences and leases in the conduct of its business, reliance on key
personnel, market acceptance of the Company's products and
services, the need to protect intellectual property and other
proprietary rights, possible failure of the business model or
business plan or the inability to implement the business model or
business plan as planned, fluctuations in the cost of materials,
competition, environmental matters, and insurance or lack
thereof.
The Company cautions that the foregoing list of material factors
is not exhaustive. When relying on the Company's forward-looking
information to make decisions, investors and others should
carefully consider the foregoing factors and other uncertainties
and potential events. The Company has assumed a certain
progression, which may not be realized. It has also assumed that
the material factors referred to in the previous paragraph will not
cause such forward-looking information to differ materially from
actual results or events. However, the list of these factors is not
exhaustive and is subject to change and there can be no assurance
that such assumptions will reflect the actual outcome of such items
or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE
REPRESENTS THE EXPECTATIONS OF DOBHAI AS OF THE DATE OF THIS NEWS
RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE.
READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING
INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY
OTHER DATE. WHILE DOBHAI MAY ELECT TO, IT DOES NOT UNDERTAKE TO
UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Formation Fluid Management Inc. Wolf Fiedler Senior
Vice President 403 887-8874 403 887-8804 (FAX)
wfiedler@fftinc.ca