Formation Fluid Management-News Release
May 27 2011 - 6:34PM
Marketwired
Formation Fluid Management Inc. (TSX VENTURE: FFM) ("FFM") is
pleased to announce that our engineering department has confirmed
the commissioning date for our first commercial scale water
processing unit as June 30, 2011. The main unit and the associated
pre-filtration unit have both been fully designed in-house by our
lead engineer and we are currently in the final stages of
manufacturing in our facility in Red Deer. The Mobile Treatment
Unit will consist of 2 modules that are housed on two independent
trailers. The commissioning date has been delayed due to several
weeks delay in acquiring necessary parts and materials from
suppliers and due to design improvements that were implemented in
the final stages of construction.
Our Mobile Treatment Unit has been to designed to be capable of
processing flowback and produced water at 60m3 per hour and is
expected to deliver the industry's first "Low-Cost" treatment
process that can be ramped up and down to meet different wastewater
treatments demands.
FFM also participated with our mobile test unit in a
demonstration of treating contaminated runoff and ground water from
an industrial site in the lower mainland of BC in April, 2011. The
purpose of the demonstration and testing was to capture and treat
the water on the site before it leaches into the river. Another
component of the test was to treat bilge water from the shipping
industry. The facility cannot allow contamination from their site
to leak into any adjacent properties or waterways, they are
obligated by law to capture, contain and treat contamination
resulting from the operations of their business. Independent
laboratory test results by Envirochem Services Inc. confirmed that
the treated water exceeded the CCME and BC Aquatic Life Guidelines
requirements for the ground and runoff water as well as the bilge
water. After the successful demonstration in April an invitation to
return to further expand our testing was extended.
Our sales department is finalizing negotiations regarding the
first contract for our commercial unit. We expect to make an
announcement very soon. Once our first unit is under contract and
generating revenue we intend to start the process for the
construction of additional units as soon as possible. The firm
commissioning date for the first commercial sized unit has made it
possible for our sales department to start discussing the use of
our services with the planning departments of those potential
clients with early summer programs requiring our type of
service.
We expect that our FFT Water Treatment Process will allow us to
get established in the significant wastewater treatment market and
we believe that we will become the leader in this market due to our
unique design and "Low-Cost" alternative disposal methods. In our
opinion, to date the approaches to the tremendous wastewater
treatment problems have been inadequate and we can solve the two
major issues with our Mobile Treatment Plants: We are
COST-EFFECTIVE and provide the VOLUME NEEDED!
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
licenses 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 THE COMPANY 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 THE COMPANY 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) 550-9027 wfiedler@fftinc.ca