Aqua-Pure Venture Inc. Announces Expansion into Eagle Ford with Mobilization of Second ROVER Unit Through FQS Ventures
09 Septembre 2014 - 2:00PM
Business Wire
Aqua-Pure Ventures Inc. (“Aqua-Pure” or the “Company”) (TSXV:
AQE), a premier recycler of oil field and shale gas wastewater,
today announced installation of a second ROVER unit through FQS
Ventures, a joint venture between Aqua-Pure’s wholly owned
subsidiary Fountain Quail Water Management and Select Energy
Services, marking the first ROVER mobilization into the Eagle
Ford.
Following a successful installation and testing, the ROVER began
recycling produced and flowback water to clean brine on September
5, 2014 in the Eagle Ford. The rolling 3 month engagement with a
new customer, a large public independent, one of the largest
producers in the Eagle Ford with operations extending into the
Permian, Oklahoma, Colorado and the Texas Panhandle, is expected to
extend through the end of 2015. The engagement includes an option
to add a second ROVER after the initial 3-month period. At this
site, the ROVER will be receiving produced and flowback water at a
processing rate of up to 8,000 to 10,000 barrels per day.
“We are seeing excellent in-field performance and high interest
in our ROVER units. As the oil & gas industry is gearing up for
water recycling and reuse, contracting a ROVER mobile clarifier
package is a powerful value proposition. At approximately $1 per
barrel, ROVER can consistently process high volumes of flowback and
produced water into clean brine for reuse in a broad range of
fracturing operations. Deployment, set up and testing can be
performed within a few days,” commented Richard Broderick,
President of Fountain Quail Water Management and Chairman of FQS
Ventures. “Our first ROVER dispatched in the Permian Basin has been
running continuously with negligible downtime since April 1 and
anticipate that it will continue to operate at our customer’s site
for the foreseeable future. We are processing all of the produced
water we receive on a daily basis from two injection well
facilities. The ROVER is proving to be a reliable and rugged
technology that I estimate will generate new revenue and expansion
opportunities for both the joint venture and Fountain Quail.”
The Company also noted that it received a 90 day extension to
the 6-month drawdown of a $3 million 5.12%, five-year secured loan
agreement with the Agriculture Financial Services Corporation (a
Provincial Government Crown Corporation) for the construction of
additional NOMAD and ROVER units. Aqua-Pure has currently put $1.5
million of the loan to use in the construction of 3 ROVER units,
all to be completed in September. The Company anticipates deploying
the balance of the loan to build additional ROVERs as well as
finish the construction of 2 NOMAD units that are close to 90%
complete.
In addition Aqua-Pure also announces that 1,060,657 options have
been granted, of which 820,657 were to replace the 1.3 million
options that expired during Q2 of 2014. The options were granted on
September 2, 2014 to employees, officers, directors and consultants
of the Company at a price of $0.20 per share and expire 5 years
from the date of issue. Currently, Aqua-Pure’s common stock
outstanding totals approximately 91.5 million shares, equivalent to
the shares outstanding for the last two years. Aqua-Pure’s fully
diluted shares (inclusive of all options, warrants and convertible
debt) totals approximately 124.6 million.
For more information, please contact:
info@aqua-pure.com or:
Karim Teja
Yvonne Zappulla
Chief Financial Officer
Grannus Financial Advisors, Inc.
(403) 301 4123 ext 26
(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 second ROVER
installation, the expected volume to be processed and revenue
generated from ROVER operations and the expansion opportunities
resulting from ROVER operations. 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
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
Aqua-Pure Ventures Inc.Karim Teja, 403-301-4123 ext 26Chief
Financial Officerinfo@aqua-pure.comorGrannus Financial Advisors,
Inc.Yvonne Zappulla, 212-681-4108
(TSXV:AQE)
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