Wednesday, 13 May 2009

NXT Announces $2.3 Million Columbian Contract

NXT Energy Solutions Inc.
TSX-V : SFD / OTCBB : NSFDF / Frankfurt : EFW

Basic Shares - 30.6 Million
Fully Diluted - 42.7 Million


In what can be considered a huge step forward for NXT Energy, the company announced today that it has signed a survey contract with a Canadian-based international oil and gas company. What has been described by management as an excellent “beach head” opportunity, the Columbian contract is valued at $2.3 Million (USD) and will take NXT approximately 45 days to complete.

Management has publically acknowledged that this could be just the tip of the iceberg when it comes to the potential business opportunity in Columbia. Two weeks ago, Murray Christie NXT COO stated in the company’s conference call with investors that Columbia could be worth $10-$20 million (USD) to the company.

NXT also used today’s news release to announce an aircraft charter agreement with Air Partners Corp. A perfect fit for the company as it possesses a fleet of Cessna Citation 560’s, the aircraft of choice for NXT’s Stress Field Detection (SFD) technology. Click here to view Air Partners’ website.

All things considered, this announcement is significant as it represents the beginning of NXT’s full market launch and its first contract outside of its “Alpha client list”, which includes Pengrowth Energy Trust, Black Goose, Nexstar Energy, etc. According to NXT’s corporate presentation – Nov. 2008, the period between 2006 and 2008 was considered the company’s Alpha Client stage. During that time NXT didn’t actively market the SFD technology and used a select group of companies to build testimonials and success stories, while pulling in a profit.

To read the full release, please click here

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