CALGARY, ALBERTA--(Marketwired - May 27, 2013) - Seair Inc. (TSX VENTURE:SDS) ("Seair" or the "Company") is pleased to announce that it has received a purchase order for 5 of its flow through diffusion towers for a new oil sands project. These units will be used for dewatering operations at the first 5 wells being drilled at the project. The units will treat between 20 - 450 gallons of water per minute, removing hydrogen sulphide from the water. This sale is valued at approximately $375,000 and is the first in a series of sales that is expected to occur as the project's drilling program develops over the next few years. With the potential for diffusion systems being required for each dewatering well, this new project has significant potential for Seair.
Seair currently has 17 diffusion towers installed for basal dewatering at one of Alberta's largest oil sands mines and the Company is expecting additional units to be ordered for similar projects over the next 12 months, although purchase orders have not yet been received. The Company expects that the successful installation of its specialized flow through dewatering units at these two major oil sands projects will result in increased utilization at other facilities with similar dewatering issues. Seair has identified several other oil sands projects where its technology should be used in dewatering operations and the Company plans to pursue installations at these projects over the next two years. The Company estimates there are between 300 - 700 wells at these other oil sands projects that will require dewatering and estimates this represents a market opportunity in the range of $15 to $45 million. Seair's dewatering related technology also has applications in other mining operations where dewatering is an issue, such as aggregate mines in the Fort McMurray area, which represent a similar market opportunity, and other metal ore mines, which the Company has not yet pursued but plans to pursue as part of its business plan. The Company plans to move from simple sales and rentals of dewatering units toward water processing contracts, where it will manage the dewatering process or certain aspects of it, for mining companies.
Seair's CEO Ric Charron says, "The oil sands represent a significant market opportunity for Seair's technology, not only in the dewatering area, but in other areas and applications as well. Seair is currently working at various stages with three other major oil sands producer's projects on extremely innovative projects ranging from removal of hydrogen sulphide, carbon dioxide, heavy metal precipitation, dissolved hydrocarbons and volatile organic compound's from produced water, process affected water and ground water, to achieve a number of different objectives including anti-corrosion, environmental discharge compliance and compliance with corporate occupational health and safety policies. Some of these projects will involve the development of new technology and intellectual property, which will further enhance Seair's product offerings and technological advantage. The oil sands opportunity is Alberta focused, but other metal ore mine dewatering opportunities may extend world-wide."
The Company will be holding its first Quarterly Conference Call with shareholders on May 30th at 10:00 a.m. Details for the conference call can be found on Seair's website www.seair.ca.
Seair Inc. (TSX VENTURE:SDS) develops proprietary equipment that diffuses gases, such as oxygen, ozone and carbon dioxide, into liquids. Seair's patented technologies can produce micron size bubbles which are more efficient than other diffusion technologies. The result is a stable condition, where gases remain in solution for extended periods of time, leading to increased productivity and lower operating costs. This, in turn, facilitates gas-based treatment of complex and challenging wastewater and allows Seair to provide full water reuse and closed loop systems.
Seair applications include oil sands/SAGD water solutions, frac and produced water treatment, efficient treatment of industrial ponds, mine dewatering, end-to-end sewage treatment for permanent residential communities and remote work camps, golf course irrigation and pond treatment. Parties interested in obtaining further information or receiving news releases and corporate documents from Seair may email such requests to email@example.com or visit the Seair website at www.seair.ca.
Seair is proud to be recognized as one of the Top 5 Cleantech companies in the TMX 2012 Venture 50.
Statement Regarding Forward-Looking Information
This news release of Seair contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Seair's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this document include statements regarding Seair's expectations regarding the regulatory approval of the Offering, closing of the Offering and the use of proceeds from the Offering. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Seair's expectations. Seair undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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