Monday, 27 April 2009

NXT Weathered 2008 and a Positive Outlook for 2009

NXT Energy Solutions Inc.
TSX-V : SFD / OTCBB : NSFDF / Frankfurt : EFW
Basic Shares - 30.6 Million

Fully Diluted - 42.7 Million

NXT Energy Solutions released its 2008 year end financials and Management’s Discussion & Analysis (MD&A) last week, both of which are available on SEDAR. The MD&A outlines a busy year for NXT in 2008, in which many of its milestones were accomplished. It also provides some insight into what’s in store for shareholders for 2009. Highlights included:
· “…we can build on the commercial and technical successes realized from previous client surveys. These surveys provide invaluable case studies; client endorsements and industry recognition that are required to broaden the market adoption of our services.”
· “Furthermore in 2008, to develop a market focus for our business plan, we began assessing various international market opportunities for our services. These initiatives include attending industry conferences, conducting in-house evaluations of potential international markets, consulting with international agents and drawing upon the vast experience of our Board of Directors and Geosciences Advisory Board.”

· “We recently announced the appointment of Mr. Murray Christie as our Chief Operating Officer. Mr. Christie’s career includes over 15 years of geological modeling and geophysical survey experience providing leading edge technology solutions to international and domestic oil and gas clients.”

· “Particularly, our recent attendance at industry conferences has significantly advanced our business plan development. They provided market intelligence, access to key decision makers and advisors and provided excellent forums to introduce and stimulate dialogue on our SFD technology.”
· “Our 2009 objective is to focus on revenue growth through the implementation of new marketing, sales and technical strategies that showcase our past achievements.”

· “With significant cash reserves we have the financial resources to execute our business plan, expand the management team and pursue targeted international opportunities evident in this challenging market.”
And you read that right, NXT used its MD&A to announce a signed letter of intent to provide its SFD services in Columbia.

“We have recently executed a letter of intent to provide U.S. $2.3 million of SFD survey services in Colombia for a Colombian subsidiary of a Canadian oil and gas company. This letter of intent is subject to the execution of the definitive agreements and receiving NXT’s Board approval. In addition, we have engaged in discussions regarding surveys in other locations of the world.”

To view NXT’s 2008 MD&A click here

To view NXT’s year end financials click here

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