Tuesday, 22 September 2009

NXT Issues Operational Update

NXT Energy Solutions Inc.
Basic Shares - 30.6 million
Fully diluted - 42.7 million

Today, NXT Energy Solutions released a detailed overview of its 2nd Quarter and provided more insight into its strategy to further penetrate the Colombian/Latin American market.

Key points from the release include:

• Balance sheet remains strong with cash reserves and no debt.

• The single Pacific Rubiales contract generated a 2nd quarter profit of $283,005.

• NXT projects that its operating costs will further decline as a percentage of revenue with further contracts in the Latin American region.

• The unique ability of NXT to conduct aerial surveys, at high altitudes (up to 3km, or 10,000 ft) overcame these difficulties allowing completion of the survey in just 7 weeks.

• NXT has engaged Edgar Baquero, a M.Sc. geologist as its Latin America business development manager. Mr. Baquero is a respected Bogota-based professional with 25 years of exploration experience in Latin America.

• The Association of Colombian Petroleum Geologists and Geophysicists has requested NXT to make a presentation of how its surveys work at the association’s monthly meeting on September 24.

• NXT is scheduled to meet with prospective clients at the International Association of Petroleum Geologists in Rio de Janeiro, Brazil on November 15 -18.

• NXT will be presenting at the Redchip (www.redchip.com) in New York on September 30 and the Howard Group Conference in Calgary on October 22
(For more information please email - info@howardgroupinc.com)

To read the full release please click here

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