Calgary, Alberta / ACCESSWIRE / October 29, 2014 / Aqua-Pure Ventures Inc. ("Aqua-Pure" or the "Company") (TSXV:AQE), a premier recycler of oil field and shale gas wastewater, today announced that its wholly owned subsidiary, Fountain Quail Water Management (“Fountain Quail”), has received a contract to mobilize a ROVER unit at the Permian Basin operations of a publicly traded independent natural gas and oil exploration and production company with operations in Texas, Louisiana, Oklahoma, Utah, Wyoming and North Dakota. The Company will initially process a minimum of 400,000 barrels after which time the contract may be renewed for up to an additional twelve months and has an option to add additional Rovers. This ROVER deployment marks the Company’s fourth ROVER unit installation and its second ROVER contract independent from the Company’s joint venture with Select Energy, FQS Ventures. As a result, 100% of the revenues and profits from this project will accrue to Aqua-Pure. The Company expects the fourth ROVER to begin recycling contaminated frack water to clean brine in December 2014.
"Today’s ROVER announcement marks the third unit contracted in the last two months. All ROVER units that were built earlier this year have now been contracted, and we are in the process of arranging a build of additional ROVER units which we anticipate will be operational in early 2015. Momentum for water reuse and recycling is indeed building, and our pipeline for additional ROVER units continues to accelerate," commented Richard Broderick, President of Fountain Quail Water Management.
For more information, please contact: [email protected] or:
Karim Teja
Chief Financial Officer
(403) 301 4123 ext 26
Yvonne Zappulla
Grannus Financial Advisors, Inc
(212) 681-4108
About Aqua-Pure Ventures Inc.
Aqua-Pure (www.aqua-pure.com) is the premier recycler of oil field wastewater in North America. The Calgary and Texas based firm has developed and commercialized a cutting-edge, cost effective water recycling technology that transforms wastewater from a liability to an asset. Aqua-Pure's oil and gas wastewater services and technology solutions enhance environmental sustainability through the utilization of patented and proprietary technologies. The Corporation's common shares are listed on the TSX Venture Exchange under the trading symbol "AQE."
About Fountain Quail Water Management
Fountain Quail Water Management (www.fountainquail.com) provides low-cost, practical recycling alternatives for both shale gas and shale oil producers. The company is the global leader in recycling shale gas flowback and produced water into fresh water for re-use. Fountain Quail is wholly owned by Aqua-Pure Ventures Inc. and is based in Roanoke, Texas.
Forward-looking Statements:
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company’s future operations. Specifically, this release contains forward-looking statements respecting expectations for the time period of engagement for the fourth ROVER installation, the expected volume to be processed from ROVER operations, the expected mobilization date for the fourth ROVER installation and the expansion and contract extension opportunities resulting from ROVER operations including receiving additional ROVER orders. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) the performance of the ROVER in a new area or shale play with different water characteristics, (2) the success of the customer’s exploration and development program in the area the ROVER is deployed (3) a downturn in general economic conditions in North America and internationally, (4) the inherent uncertainties associated with the demand for oil and gas, (5) federal and local government regulations that affect the oil and gas drilling industries (6) the risk that the Company does not execute its business plan, (7) inability to finance operations and growth (8) inability to retain key management and employees, (9) ; an increase in the number of competitors with larger resources, and (10) other factors beyond the Company’s control; (11) the introduction of new technologies either in the water reuse and recycling or in the amount of water used in hydraulic fracturing operations; (12) the availability of more cost effective sources of water These forward-looking statements are made as of the date of this news release and the Company intends to update such forward looking information in the Company's MD&A in the event that actual results differ materially from such forward-looking statements contained herein. Additional information about these and other assumptions, risks and uncertainties are set out in the “Risks and Uncertainties” section in the Company’s MD&A filed with Canadian security regulators.
Neither 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
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/aquaopure10292014.pdf
Maximum News Dissemination by FSCwire. http://www.fscwire.com
Copyright (C) 2014 Filing Services Canada Inc.
SOURCE: Aqua-Pure Ventures Inc