| News Release |
February 2 , 2010 |
| NXT Energy Solutions Inc . |
(TSX.V - SFD) (OTCBB-NSFDF) (Frankfurt-EFW) |
NXT Awarded Survey Contract With a New Client in Colombia
09:38 EST Tuesday, February 02, 2010
CALGARY, ALBERTA--(Marketwire - Feb. 2, 2010) - NXT Energy Solutions Inc. (TSX VENTURE:SFD) (OTCBB:NSFDF) (FRANKFURT:EFW) ("NXT" or "the Company") is pleased to report that it has been awarded a U.S. $431,000 SFD(R) 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(R) contract", said George Liszicasz, CEO and President. "We are encouraged that SFD(R) is gaining early acceptance with reputable operators and see opportunities for more SFD(R) revenue in Columbia and throughout the region."
About NXT Energy Exploration Technologies Inc.
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(R)") survey system provides a unique survey method that remotely identifies potential traps and reservoirs. SFD(R) 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(R) is the registered trademark of NXT Energy Solutions Inc.
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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