CALGARY, ALBERTA--(Marketwire - June 30, 2011) - Ridgeline Energy Services Inc. (TSX VENTURE:RLE - News; "Ridgeline" or the "Company"), an environmental technology and consulting company focused on waste management in the oil and gas industry provides this corporate update.OverviewFor the current year ending on March 31st, 2012 Ridgeline is experiencing better operating results for its environmental consulting business than it experienced in the same period in 2011. Our Greenfill (landfill based soil remediation business) will expand this year with growth of three additional facilities, two currently in the permitting process, in addition to its recently permitted Lloydminster facility in Saskatchewan. The Company's Lloydminster facility is now under construction, and expected completion is August of this year. The Company currently operates its Drumheller (Central Alberta), and Tilley (Southern Alberta) facilities, which are landfill based facilities, permitted to accept contaminated soils. In addition, the Company's water management and treatment business continues to build an ever expanding platform from which the Company expects will lead to rapid expansion of revenue and earnings.Acquisition of Danzik Hydrological Sciences LLC ("DHS")The Company has obtained conditional acceptance from the TSX Venture Exchange ("TSXV") for the previously announced (April 20, 2011) acquisition of DHS and the related intellectual property. One of the conditions of final regulatory acceptance is to obtain the written consent of Ridgeline shareholders holding greater than 50% of issued and outstanding common shares for the creation of a new "control person" (as that term is defined by TSXV Policy). Ridgeline sent to those of shareholders of record on May 19, 2011 a Shareholder Consent Memorandum to seek this written consent. As of June 30, 2011, Ridgeline has obtained written consent of over 59.33% of shareholders, which satisfies this regulatory condition. The DHS acquisition remains subject to satisfaction all other regulatory conditions and the conditions of closing under the purchase and sale agreement.On June 16, 2011 the Company closed a private placement raising gross proceeds of approximately $5.2 million. Our water management program now has Development Agreements executed or in process with four Fortune 500 oil and gas companies. The primary use of proceeds is to fund equipment for the execution of Development Agreements, so that facility systems can be designed and long term operating agreements can be put in place.Ridgeline Water Inc. (RWI) - Commercial Installation in NE BC - The Company has completed its first commercial installation in the Horn River of NE B.C. for a Fortune 500 oil and gas company. Multiple, independent tests conducted by Ridgeline, proved on target for water quality. Throughput flow rates were increased from a target of 3,000 barrels per day to over 12,500 barrels per day. The tested throughput flow rates for the treatment facility are equivalent to over 370 gallons per minute (GPM). The tested throughput flow rates are higher than the budgeted rates of 88 GPM by over 200 GPM and are expected to increase as operating refinements are made.Baseline tests conducted by Ridgeline on the pre-treated flowback water showed that the levels of contaminants were above Contaminated Sites Regulations criteria levels. The testing Ridgeline conducted on the post-treated water indicated that the water met or exceeded the standards set out in the Contaminated Sites Regulations (CSR) Schedule 6, Livestock Standard.Independent engineering sampling has begun and results from this analysis are expected in the next few weeks.Ridgeline GreenFill Inc. (RGI) - Lloydminster Update - As noted in the news release dated 27th May, 2011; RGI has secured approval from the Saskatchewan Ministry of Environment to construct a centralized, landfill based, soil management and treatment facility at Lloydminster, SK. The approval for the facility is a first of its kind in Saskatchewan and follows similar approvals the Company has received in Alberta. Construction is now underway and, it is expected that material flow of soil to be treated, will begin in August of this year.The GreenFill solution for Oil and Gas customers is to transform contaminated soil into safe landfill cover;
Ridgeline Energy Services Inc. Third and Fourth Quarter 2011;Ridgeline Water Inc. (RWI) - Continue to operate and further increase efficiencies of the Company's commercial facility in NE BC.RWI - Complete the acquisition of Danzik Hydraulic Sciences LLC (DHS) and the Intellectual Property as discussed above.RWI - Development Agreements
-- Bacteria and microorganisms break down hydrocarbons into CO2 and water
-- Bioremediation and mechanical treatment takes place within bio-cells
-- After treatment, these soils meet unconditional land usage criteria
-- Existing landfills are ideal disposal sites for non-hazardous oilfield
waste treatment hydrology, soil type, gradient).
Ridgeline GreenFill Inc. (RGI) - Construct two (2) additional fully functional GreenFill facilities in Alberta and continue to accept material and operate the current permitted facilities.Ridgeline Environment Inc. (REI) - Increase top line revenues in Ridgeline Environment and expand Yukon presence into the mining industry.About Ridgeline Energy Services Inc.Ridgeline Energy Services Inc. (TSX VENTURE:RLE - News) is an environmental technology and consulting company focused on waste management in the oil and gas industry. Through its subsidiary Ridgeline Water Inc., the Company is developing proprietary technology capable of efficiently treating large volumes of contaminated water generated by oil and gas producers. The Company is working with energy majors in the application of proprietary technology for effective treatment of water for hydraulic fracturing, oil sands process water (SAGD and tailings ponds) and to recycle the water used in these oil and gas industry applications. Through its environmental consulting and remediation subsidiaries, Ridgeline Environment Inc. and Ridgeline GreenFill Inc., the Company has built a reputation as an established player in the provision of environmental services to Western Canada's large and growing oil and gas industry. The Company trades on the TSX Venture Exchange under the symbol "RLE". Additional information is available on the Company's website at: http://www.ridgelinecanada.com."This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Such information is subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, as no assurances can be given as to future results, levels of activity or achievements."Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
a. Development project in Northern Alberta with an Exploration and
Production Company (EMP)
b. Start-up of a second frac water treatment Development project in NE B.C.
c. Complete trials on steam assisted gravity drainage (SAGD) process water.
d. Commence the start-up of three additional Development projects;
i. USA industrial waste development project
ii. Oil shale Western Canada