Tuesday, 2 February 2010

NXT Energy Solutions Signs Up Third Client in Colombia

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


Investors in NXT were happy to start the trading day with an announcement that the company has been awarded a $431,000 (USD) survey contract by a “significant operator” in Colombia. The company is set to begin flying the survey mid February over onshore and offshore areas. This contract is the third of its kind in under a year of operation in Colombia.

What investors may not know is that the SFDTM technology that NXT uses to fly these surveys is capable of detecting stress signals from charged oil and gas reservoir structures both on land and under water. Terrain does not impact this technology, which is a major reason why it is appealing for frontier oil and gas exploration companies in Colombia.

One hour after the news hit the wires, shares in NXT Energy (SFD.V) rose over 10% on the TSX venture exchange.

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