Thursday, 3 December 2009

NXT Annual Meeting; A Who's Who, of Who Wasn’t There

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


The theme of NXT’s annual meeting on December 1st focused on the success of 2009 and it was quite apparent based on the number of top executives who weren’t there.
In fact, it was left up to CFO, Ken Rogers, to lead the charge because the remaining senior executives were all down in Colombia to oversee another major contract there.

Of course, investors would much rather have company executives tied up on new business than discuss the past year at an annual meeting.

Nevertheless, Mr. Rogers delivered two critically important messages to investors about the company’s 2009 performance:

1) The company refocused its business plan in 2009
2) It was able to achieve the various objectives set out at the beginning of the year

One of the key objectives Mr. Rogers talked about was that of beginning to remove the “black box stigma,” or the mystery surrounding how NXT’s technology actually does find oil and gas. One of the first critical steps in removing that shroud was to hire Azer Mustaqeen, P. Geoph, early in 2009. Mr. Mustaqeen immediately began clarifying how NXT’s Stress Field Detection (SFD) technology identifies underground structures that likely hold oil and gas deposits. During the past year, he has also built a number of case studies to explain the technology’s previous successes.

The presentation at the Calgary Petroleum Club in Calgary, Alberta also laid out the company’s focus on the Colombian market, which is central to its new direction. In 2009, the company has made great strides in building relationships in that country and in so doing has opened up other opportunities in other countries in the region such as Brazil, Peru and more.

To view the full presentation in pdf format, please click here

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