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NXT Energy Solutions' SFD Awarded Best Exploration Technology At the 2024 Gulf Energy Information Excellence Awards
https://finance.yahoo.com/news/nxt-energy-solutions-sfd-awarded-120000070.html
Watch this one fly, and no one paying attention.
CALGARY, AB / ACCESSWIRE / September 26, 2024 / NXT Energy Solutions Inc. ("NXT" or the "Company") (TSX:SFD)(OTCQB:NSFDF) is pleased to announce that it has been named a finalist for Best Exploration Technology at the 2024 Gulf Energy Information Excellence Awards. The awards spotlight excellence and innovation in the energy sector, and the winners will be announced at an awards ceremony in Houston, Texas, on October 9, 2024.
Bruce G. Wilcox, CEO of NXT, stated "We are pleased that NXT Energy Solutions and our Stress Field Detection (SFD®) exploration technology has been recognized as a finalist for Best Exploration Technology at the coveted Gulf Energy Information Excellence Awards. This is NXT's second consecutive year being named a finalist for this award, and we look forward to attending the gala ceremony in Houston."
The Gulf Energy Information Excellence Awards - a combination of the respected World Oil Awards, Hydrocarbon Processing Awards, Petroleum Economist Awards and Pipeline & Gas Journal Awards - recognize and celebrate cutting-edge technological developments and exceptional leadership in the energy industry.
For more information on the Gulf Energy Information Excellence Awards, please click the link: https://e2awards.com/
News: $NSFDF NXT Energy Solutions Inc. Issues Direction to Alberta Green Ventures Limited Partnership Regarding Loan Repayment
CALGARY, Alberta, Dec. 13, 2019 (GLOBE NEWSWIRE) -- NXT Energy Solutions Inc. ("NXT" or the "Company") (TSX:SFD; OTC QB:NSFDF) has issued a direction (the "Direction") to Alberta Green Ventures Limited Partnership ("AGV") to deliver for cancellation the number of common shares in the capita...
Got this from NSFDF - NXT Energy Solutions Inc. Issues Direction to Alberta Green Ventures Limited Partnership Regarding Loan Repayment
News: $NSFDF NXT Energy Solutions Inc. Makes a Targeted Issuer Bid for Common Shares Owned by Alberta Green Ventures Limited Partnership
CALGARY, Alberta, Nov. 18, 2019 (GLOBE NEWSWIRE) -- NXT Energy Solutions Inc. ( NXT or the Company ) (TSX:SFD; OTC QB:NSFDF) is pleased to announce that it has entered into an agreement with Alberta Green Ventures Limited Partnership ( AGV ) whereby NXT will purchase from AGV up to 4,166,...
In case you are interested NSFDF - NXT Energy Solutions Inc. Makes a Targeted Issuer Bid for Common Shares Owned by Alberta Green Ventures Limited Partnership
NXT Energy Solutions Announces Second Quarter 2019 Results
8/7/19, 6:23 PM
CALGARY, Alberta, Aug. 07, 2019 (GLOBE NEWSWIRE) -- NXT Energy Solutions Inc. (“NXT” or the "Company") (TSX:SFD; OTC QB:NSFDF) today announced the Company’s financial and operating results for the quarter ended June 30, 2019. All dollar amounts herein are in Canadian Dollars.
Q2 Financial and Operating Highlights
Key financial and operational highlights for the second quarter and year to date include:
On May 1, 2019 the Company completed the acquisition phase of its Nigerian SFD® survey valued at approximately US$8.9 Million with PE Energy Limited (“PE”), a Nigerian oil and gas service company. PE has a contract with the Nigerian National Petroleum Company (“NNPC”), to provide 5,000-line kilometers of SFD® surveys in Nigeria. NXT’s recommendations are being delivered during the third quarter of 2019. The Company will also discuss the potential utilization of SFD® technology in NNPC’s future exploration programs based upon the successful completion of the Department of Petroleum Resources (“DPR”) near-shore flight and the initial onshore SFD® data review conducted in April 2019 by the Frontier Exploration Services (“FES”) of NNPC.
The Company has received US$5.7 million from PE for the SFD® Surveys in Nigeria, including US$4.4 million in July 2019. The final milestone payments of US$3.2 million for delivery of the final report are expected to be made by the end of the third quarter.
In February 2019, NXT entered into a Co-operative Agreement with Alberta Green Ventures (“AGV”), to propose up to three SFD® surveys within two years. The Co-operative Agreement is based on a cost plus formula and a gross overriding royalty interest in oil and gas production arising on lands subject to the surveys. NXT and AGV are evaluating potential SFD® surveys. The Company has received a US$100,000 non-refundable deposit for this Co-operative Agreement in Q2-19.
As the result of the Co-operation Agreement between AGV and NXT, the Company has received approval from its shareholders and the Toronto Stock Exchange (“TSX”) to extend the 3,421,648 common share purchase warrants at an exercise price of $1.20 held by AGV for an additional 12 months until February 16, 2020 contingent upon AGV’s performance under the Co-operation Agreement.
NXT has entered into a three year exclusive sales representative agreement with AGV, in nine jurisdictions in the Middle East and Latin America. This includes an at-market subscription right to purchase treasury shares of NXT in a dollar amount equal to 25% of the contracts introduced by AGV to NXT in the first year of the agreement, subject to approval from the TSX.
Survey revenues of $10.95 million were recorded in Q2-19.
A net income of $8.09 million was recorded for Q2-19, including amortization expense of $0.44 million.
A net income of $6.32 million was recorded for 2019 YTD, including amortization expense of $0.89 million.
Operating activities used $0.38 million of cash during Q2-19 and net cash used for financing activities was $0.01 million.
Operating activities used $1.26 million of cash during 2019 YTD and net cash used for financing activities was $0.02 million.
Net income per common share for Q2-19 was $0.12 basic and $0.11 diluted.
Net income per common share for 2019 YTD was $0.09 basic and $0.09 diluted.
General and administrative costs for the Q2-19 as compared to 2018 have been reduced by $0.343 million or 31% mostly due to a reduction in business development travel, legal costs and some expenditures becoming direct survey costs.
General and administrative costs for 2019 YTD as compared to 2018 YTD have been reduced by $0.40 million or 19% mostly due a reduction in business development costs, the suspension of the Advisory Board, lower headcount costs and some expenditures becoming direct survey costs.
Cash and short-term investments at the end of the Q2-19 were $2.96 million.
Message to Shareholders
George Liszicasz, President, and CEO of NXT, commented, “During the second quarter we completed the acquisition of 5,000 line-kilometers of SFD® data, interpreted most of it, and presented milestone results to the clients in late July 2019. In addition, we were paid almost two thirds of the total $US 8.9 million contract fee based upon milestones completed. The Company also discussed the potential utilization of SFD® technology in the NNPC’s future exploration programs based upon the successful correlations of SFD® with NNPC’s proprietary seismic data. During the last week of July a detailed comparison of SFD® data with Department of Petroleum Resources’ (“DPR”) proprietary seismic data was carried out over the near-shore SFD® Pilot Project area designed by DPR. The results are very encouraging which may lead to new SFD® survey opportunities in Nigeria. Again, I want to thank NXT’s hard working employees and PE Energy Limited for executing on a successful SFD® project.
Our team has just completed a three week trip which started with data integration and presenting results in Nigeria and ended in Beijing where we built upon our strengths in the West African region through conversations in Beijing with BGP and affiliates. BGP is the largest seismic company in the world with a significant presence in Africa.”
Summary highlights of NXT's 2019 second quarter and year to date financial statements (with comparative figures to 2018) are noted below. All selected and referenced financial information noted below should be read in conjunction with the Company's three month and six month periods ended June 30, 2019 unaudited condensed consolidated interim financial statements and the related management's discussion and analysis ("MD&A").
(All in Canadian $)
Q2-19
Q2-18
2019 YTD
2018 YTD
Operating results:
Survey revenues $ 10,954,617 $ - $ 10,954,617 $ -
Survey expenses 1,412,380 267,672 1,790,113 517,434
General & administrative expenses 767,401 1,110,634 1,689,150 2,092,038
Stock based compensation expense 3,775 153,791 7,550 449,075
Amortization and other expenses, net 443,154 447,192 886,851 894,383
Operating expenses 2,626,710 1,979,289 4,373,664 3,952,930
Comprehensive income (loss) for the period 8,085,888 (1,961,114 ) 6,322,568 (3,915,764 )
Earnings (loss) per common share – basic $ 0.12 $ (0.03 ) $ 0.09 (0.06 )
Earnings (loss) per common share – diluted $ 0.11 $ (0.03 ) $ 0.09 (0.06 )
Number of common shares outstanding as at end of the period 68,573,558 67,378,297 68,573,558 67,378,297
Weighted average number of common shares outstanding for the period:
Basic 68,573,558 64,319,452 68,573,558 62,366,678
Diluted 73,267,206 64,319,452 73,274,112 62,366,678
Cash provided by (used in):
Operating activities (384,271 ) (1,942,964 ) (1,262,250 ) (3,281,872 )
Financing activities (10,554 ) 4,093,205 (20,931 ) 8,377,941
Investing activities 900,000 (4,960,007 ) 2,100,000
News: $NSFDF NXT Receives an Additional $2.1 Million Payment Under Its $8.9 Million USD Nigerian SFD® Survey Contract
CALGARY, Alberta, July 09, 2019 (GLOBE NEWSWIRE) -- NXT Energy Solutions Inc. (“NXT” or the "Company") (TSX: SFD; OTC QB: NSFDF) is pleased to announce that it has received an additional $2.1 Million USD on its $8.9 million USD Nigerian SFD ® survey bringing total paymen...
In case you are interested NXT Receives an Additional $2.1 Million Payment Under Its $8.9 Million USD Nigerian SFD® Survey Contract
News: $NSFDF NXT Receives the Advance Payment on the $8.9 Million SFD® Survey Contract and Completes Data Acquisition
CALGARY, Alberta, May 02, 2019 (GLOBE NEWSWIRE) -- NXT Energy Solutions Inc. (“NXT” or the "Company") (TSX: SFD; OTC QB: NSFDF) is pleased to announce that of the $1.0 Million USD, it has received a $0.9 Million USD advance payment from PE Energy Limited (“PE”) f...
Find out more https://marketwirenews.com/news-releases/nxt-receives-the-advance-payment-on-the-8-9-million-sfd-xae-survey-contract-and-completes-data-acquisition-8100076.html
News: $NSFDF NXT Energy Solutions Announces 2018 Year End Results and Update on $US8.9 Million SFD® Survey
CALGARY, Alberta, April 01, 2019 (GLOBE NEWSWIRE) -- NXT Energy Solutions Inc. ("NXT" or the "Company") (TSX: SFD; OTC QB: NSFDF) today announced the Company's financial and operating results for the year ended December 31, 2018. All dollar amounts herein are in Canadian Dollars. ...
Find out more https://marketwirenews.com/news-releases/nxt-energy-solutions-announces-2018-year-end-results-and-update-on-us8-9-million-sfd-xae-survey-7926082.html
NXT Energy Solutions Announces US $1 Million Expansion of SFD(R) Survey Project in Bolivia With YPFB
7/9/15, 3:30 AM
CALGARY, ALBERTA -- (Marketwired) -- 07/09/15 -- NXT Energy Solutions Inc. ("NXT Energy" or the "Company") (TSX VENTURE: SFD)(OTCQB: NSFDF) is pleased to advise that based on the preliminary results of its SFD® survey project which is underway in Bolivia, and integration with other existing geophysical data, Yacimientos Petroliferos Fiscales Bolivianos ("YPFB") has decided to expand the project by an additional US $1.0 million. The project will now total US $14.4 million, with the expansion subject to final contract documentation that is expected to be completed shortly.
The SFD® data acquisition portion of the Bolivia project is well underway, with its phase 2 expected to be completed in the next month, after which a 50% project progress billing of US $7.2 million will be issued. An initial deposit of US $3.1 million (secured by a letter of credit issued by NXT Energy) was received from YPFB in May at the commencement of the project. The related SFD® data interpretation and recommendations portion of the project is expected to be completed by fall 2015.
In a press conference in Bolivia announcing the prior commencement of this project, YPFB President, Guillermo Acha had stated "The final results of this project will be delivered in November, however, this technology has the capacity to produce earlier results, and based on those, technical decisions could be made in the exploration areas investigated. Thanks to this method we will be able to identify potential new oil and gas reserves."
George Liszicasz, President and CEO of NXT Energy, noted "this project is a key part of YPFB's current exploration strategy and has received a high profile in the Bolivia media. The expansion of the project shows that we can very rapidly deliver results, which has significant value to YPFB and Bolivia. NXT Energy is also working with YPFB and other clients to propose and plan additional SFD® surveys in Bolivia."
NXT is a Calgary based company whose proprietary Stress Field Detection ("SFD®") survey system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey method which can be used both onshore and offshore to remotely identify areas with exploration potential for traps and reservoirs. The SFD® survey system enables our clients to focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization on areas with the greatest potential. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain, and is the registered trademark of NXT Energy Solutions Inc. NXT provides its clients with an effective and reliable method to reduce time, costs, and risks related to exploration.
Forward-Looking Statements
This news release may include forward-looking statements. When used in this document, words such as "intends", "plans", "anticipates", "expects" and "scheduled", are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statements. Risk factors facing NXT are described in its most recent MD&A for the fiscal year ended December 31, 2014 which has been filed electronically by means of the System for Electronic Document Analysis and Retrieval ("SEDAR") located at www.sedar.com. There is a specific risk that the Company may not be able to advance its Vertical business model in the short term, whether as a result of failing to secure acceptable financing or otherwise.
Such forward-looking statements are made as at the date of this news release, and the Company assumes no obligation to update or revise them, either publicly or otherwise, to reflect new events, information or circumstances, except as may be required under applicable securities law.
Specific forward-looking statements include expectations related to the timing of completion of the survey project.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Exchange accept responsibility for the adequacy or accuracy of this release.
Contacts:
NXT Energy Solutions Inc.
Greg Leavens
V-P Finance & CFO
(403) 206-0805
NXT Energy Solutions Inc.
George Liszicasz
President & CEO
(403) 206-0800
www.nxtenergy.com
Investor Relations
kin communications inc.
(604) 684-6730 / 1-866-684-6730
sfd@kincommunications.com
www.kincommunications.com
OTC Markets Group Welcomes Newly Verified OTCQB Companies – June 22
Jun 22, 2015
OTC Disclosure & News Service
New York, NY -
OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced the following companies are verified for trading on the OTCQB® Venture Marketplace:
NXT Energy Solutions Inc. (TSX-V: SFD; OTCQB: NSFDF) – NXT Energy Solutions ("NXT") is a publicly-traded geophysical service company based in Calgary, Alberta, Canada. NXT's proprietary SFD aerial survey technology is used by oil and gas exploration and production companies to focus and high-grade their exploration programs.
SFD can be used to significantly reduce the total time, costs and risks in the exploration cycle, with no environmental impact.
5Barz International Inc. (OTCQB: BARZ) – 5BARz International along with its consolidated subsidiaries are in the process of developing the global commercialization of a patented product technology branded under the name 5BARz(TM). 5BARz(TM) is a cellular network infrastructure device for use in the small office, home or when you are mobile. 5BARz(TM) incorporates a patented technology to create a highly engineered, single-piece, plug 'n play unit, which is not disruptive to the wireless networks, and strengthens weak cellular signals to deliver high quality signals for voice, data and video reception on cell phones and other cellular equipped devices. 5BARz(TM) represents a key solution for cellular network operators in providing clear, high quality signal for their subscribers with a growing need for high quality connectivity.
Berkshire Bancorp, Inc. (OTCQB: BERK) – Berkshire Bancorp, a Delaware corporation, is a bank holding company registered under the Bank Holding Company Act of 1956. The company's principal activity is the ownership and management of its wholly-owned subsidiary, The Berkshire Bank, a New York State chartered commercial bank. Berkshire Bank's principal business consists of gathering deposits from the general public and investing those deposits primarily in loans, debt obligations issued by the U.S. government and its agencies, debt obligations of business corporations, and mortgage-backed securities. Berkshire Bank currently operates seven branches in New York City, four branches in Orange and Sullivan Counties, New York and one branches in Teaneck, NJ.
Farmers & Merchants Bank of Long Beach (CA) (OTCQB: FMBL) – Farmers & Merchants Bank of Long Beach offers personal and business banking services in California. It provides business banking products and services such as business checking accounts, money market accounts, investment accounts, merchant card services, small business loans, real estate and construction loans, commercial loans, church and nonprofit loans; and personal banking services, including personal checking accounts, personal money market accounts, personal savings accounts, and personal and home loans. The bank operates 23 branches in Long Beach and Orange County. Farmers & Merchants Bank was founded in 1907 and is based in Long Beach, California.
Frontera Group Inc. (OTCQB: FRTG) – Frontera Group is an export management company providing business development and market consultancy services that assist small and medium-sized businesses in entering new markets in Central and South America.
NXT Energy Solutions Inc. (TSX-V: SFD; OTCQB: NSFDF) – NXT Energy Solutions ("NXT") is a publicly-traded geophysical service company based in Calgary, Alberta, Canada. NXT's proprietary SFD aerial survey technology is used by oil and gas exploration and production companies to focus and high-grade their exploration programs.
SFD can be used to significantly reduce the total time, costs and risks in the exploration cycle, with no environmental impact.
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for these companies on www.otcmarkets.com.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to inform investors of opportunities and risks: the OTCQX® Best Marketplace; the OTCQB® Venture Marketplace; and the OTC Pink® Open Marketplace. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com.
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NXT Energy Solutions Advises of Commencement of Bolivia Project and Filing of Q1 2015 Results
CALGARY, ALBERTA--(Marketwired - Jun 1, 2015) - NXT Energy Solutions Inc. ("NXT Energy" or the "Company") (TSX VENTURE:SFD) (NSFDF) advises that its interim financial and operating results for the three month quarter ended March 31, 2015 ("Q1-2015") have been filed in Canada on SEDAR at www.sedar.com, and will be available in the USA on EDGAR at www.sec.gov/edgar, and on NXT's website at http://ctt.marketwire.com/?docid=1010304001&id=6241567&type=0&url=http%3a%2f%2fwww.nxtenergy.com%2f. All selected and referenced financial information noted below should be read in conjunction with the Company's unaudited interim consolidated financial statements and related management's discussion and analysis ("MD&A") for the Q1-2015 period.
A condensed summary from the Q1-2015 interim consolidated financial statements, with comparative figures for the three month period ended March 31, 2014 ("Q1-2014") is given below.
George Liszicasz, President and CEO of NXT, noted "the Q1-2014 period reflected the completion of a survey project in the USA for new client. While we did not have revenue activity in Q1-2015, we are excited that this week we are mobilizing to our new SFD® survey project in Bolivia. This project, which has a contract value exceeding US $13 million, is with another new client, the national oil company of Bolivia, and will be our largest project to date. We have received an initial deposit valued at US $3.1 million (secured by a bank letter of guarantee issued to the client), which will be applied against the initial progress billing to be earned on the project."
http://finance.yahoo.com/news/nxt-energy-solutions-advises-commencement-170748558.html
http://www.nxtenergy.com/upload/media_element/attachments/110/2015%2006%2001%20NXT%20announces%20commencement%20of%20Bolivia%20project%20and%20filing%20of%20Q1%202015%20results%20REVISED.pdf
Bolivian contract biggest ever for Calgary air survey firm
DAN HEALING, CALGARY HERALD
More from Dan Healing, Calgary Herald
Published on: May 12, 2015
Last Updated: May 12, 2015 4:59 PM MDT
Airborne survey firm NXT Energy Solutions reports it has won its largest contract worth $13.4 million in Bolivia.
SHARE ADJUST COMMENT PRINT
A Calgary company that performs high-tech surveys to detect potential oil and gas fields from an airplane has won the largest contract in its history, worth $13.4 million US, from the national oil company of Bolivia.
NXT Energy Solutions Inc. announced Tuesday that it will begin its “stress field detection” survey as soon as this month, following receipt of local permits, for Yacimientos Petroliferos Fiscales Bolivianos (YPFB).
“Given the large frontier areas in Bolivia, we view this project as the first step in building a strategic long-term partnership with YPFB and its subsidiaries, and are looking forward to undertaking this exciting new project,” said George Liszicasz, president and chief executive of NXT, in a release.
The news comes two weeks after NXT’s 2014 financial report, which showed it had a net loss of $1.6 million on survey revenue of $3.9 million. In 2013, it had a loss of $5.3 million on revenue of $2.7 million.
A contract with Pemex, the national oil company of Mexico, boosted NXT’s 2012 annual survey revenue by $5.8 million to a record $10.9 million and delivered a $2 million net profit.
The company’s TSX Venture Exchange stock has risen about 80 cents this year, closing at $2.10 on Tuesday, down five cents. It pre-announced Tuesday’s contract on April 16 as a pending deal but didn’t identify the customer or give its exact value.
Raveel Afzaal, an analyst for Mackie Research Capital, said in a research note the YPFB contract is likely to result in gross margins of about 80 per cent for NXT. He has a 12-month target price of $2.50 per share.
He said NXT is in talks with three other companies in Bolivia in which the national oil company has an interest, so more work could be realized there.
The company is also bidding on work in Pakistan for OGDCL, a leading oil and gas explorer, that could result in a contract worth an estimated $7 million, Afzaal reported.
“Management remains optimistic that it will be in a position to secure additional contracts in Malaysia, the Middle East and Mexico before the end of the year as well,” he wrote. “As a result, we believe that 2015 could prove to be an inflection point and the strongest year in the company’s history.”
NXT says its stress field detection system utilizes “quantum-scale sensors to detect gravity field perturbations” both onshore and offshore, thus identifying areas with potential oil and gas traps and reservoirs.
dhealing@calgaryherald.com
Twitter.com/HealingSlowly
http://calgaryherald.com/business/energy/calgary-air-survey-firm-lands-biggest-contract-in-bolivia
NXT Energy Solutions Executes US $13.4 Million SFD(R) Survey Contract to Commence in May, 2015
5/12/15, 3:00 AM
CALGARY, ALBERTA -- (Marketwired) -- 05/12/15 -- NXT Energy Solutions Inc. ("NXT Energy" or the "Company") (TSX VENTURE: SFD)(OTCQB: NSFDF) is pleased to advise that it has now executed the formal binding contract previously announced on April 16, 2015 for US $13.4 million.
NXT Energy notes that the contract is with a new client, Yacimientos Petroliferos Fiscales Bolivianos ("YPFB"), which is the National Oil Company of Bolivia.
It is anticipated that the aerial Stress Field Detection ("SFD®") survey project will commence in May, 2015, pending receipt of customary local permits. As part of the contract, NXT Energy will receive a 20% deposit advance at commencement of the project.
George Liszicasz, President and CEO of NXT Energy, noted "we are very proud to have received this significant contract with YPFB, one of the major NOCs in South America. Given the large frontier areas in Bolivia, we view this project as the first step in building a strategic long-term partnership with YPFB and its subsidiaries, and are looking forward to undertaking this exciting new project."
NXT Energy is a Calgary based company whose proprietary Stress Field Detection ("SFD®") survey system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey method which can be used both onshore and offshore to remotely identify areas with exploration potential for traps and reservoirs. The SFD® survey system enables our clients to focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization on areas with the greatest potential. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain, and is the registered trademark of NXT Energy Solutions Inc. NXT provides its clients with an effective and reliable method to reduce time, costs, and risks related to exploration.
Forward-Looking Statements
This news release may include forward-looking statements. When used in this document, words such as "intends", "plans", "anticipates", "expects" and "scheduled", are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statements. Risk factors facing NXT are described in its most recent MD&A for the year ended December 31, 2013 which has been filed electronically by means of the System for Electronic Document Analysis and Retrieval ("SEDAR") located at www.sedar.com. Such forward-looking statements are made as at the date of this news release, and the Company assumes no obligation to update or revise them, either publicly or otherwise, to reflect new events, information or circumstances, except as may be required under applicable securities law.
Specific forward looking statements include expectations related to the timing and scope of the survey project.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Exchange accept responsibility for the adequacy or accuracy of this release.
News pending. Halted by request of company.
http://m.newsfilecorp.com/release/15347/IIROC-Trade-Halt-NXT-Energy-Solutions-Inc.#.VVDrEFJHbCQ
No, I sold out in Oct, 2013.
I haven't followed NXT since then. I see the share price is back up to around where I sold it.
The reason I didn't hold long term then was that quarterly results fluctuated hugely.
I'll look into it again.
Thanks!
You still in NXT? Vertical business to launch soon and will be huge!
Recent Charting courtesy of "MICK" AND FRIENDS STOCK PICKS BOARD
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=113416525
Company website revamped including current capitalization information. IHub investor board content being updated to reflect new public information. Please refer to company's website for all up to date information.
http://www.nxtenergy.com/
NXT Energy Solutions Announces Filing of 2014 Year-End Results and Upcoming Investor Conference Call Update
CALGARY, ALBERTA--(Marketwired - April 30, 2015) - NXT Energy Solutions Inc. ("NXT Energy" or the "Company") (TSX VENTURE:SFD)(OTCQB:NSFDF) advises that its financial and operating results for the fiscal year ended December 31, 2014 have been filed in Canada on SEDAR at www.sedar.com, at will be available shortly in the USA on EDGAR at www.sec.gov/edgar, and on NXT's website at www.nxtenergy.com. All selected and referenced financial information noted below should be read in conjunction with the Company's 2014 audited consolidated financial statements and related management's discussion and analysis ("MD&A").
George Liszicasz, President and CEO of NXT Energy, noted "2014 was a very important year for NXT, as we made significant progress with new clients and several large client prospects, enhanced the protection of our proprietary Intellectual Property, and very importantly, we significantly advanced the development of our "Vertical" business model. In 2014, our revenues increased 46% from 2013, and our projects had higher operating profitability. We are pleased with the momentum of our ongoing business development initiatives that have resulted in recent contract awards in 2015 and the expectation of significant revenue growth. We look forward to updating our investor base on these developments very shortly."
NXT Energy advises that it will host a brief investor and media conference call on Thursday May 7, 2015 at 2:10 pm MST (4:10 pm EST) to discuss the status of recent business development initiatives. Interested parties are invited to participate in this call, by using one of the applicable numbers below:
Participant Pass Code: 36501 - please enter this code followed by the "#" (pound) sign
Highlights of Financial Results
Summary highlights of NXT's 2014 year-end financial statements (with comparative figures for the year ended December 31, 2013) are as follows:
(all in Canadian $) 2014 2013
Survey revenues $ 3,913,367 $ 2,684,095
Survey expenses 431,518 1,632,159
General & administrative expenses 4,132,108 4,112,787
Amortization and other expenses, net 870,302 509,664
Increase (decrease) in fair value of US$ Warrants 42,800 1,371,500
5,476,728 7,626,110
(Loss) before income taxes (1,563,361 ) (4,942,015 )
Income tax expense - 399,546
Income (loss) for the year (1,563,361 ) (5,341,561 )
(Loss) per common share - basic (0.04 ) (0.13 )
(Loss) per common share - diluted (0.04 ) (0.13 )
# of common shares outstanding as at end of the year 44,958,843 42,418,326
Weighted average # of common shares outstanding for the year 44,375,540 41,660,190
Cash provided by (used in):
Operating activities:
Net (loss) for the year (1,563,361 ) (5,341,561 )
Add back non-cash items, net 753,402 1,951,731
(809,959 ) (3,389,830 )
Net change in non-cash working capital balances (2,771,227 ) 2,614,872
Net cash (used in) operating activities (3,581,186 ) (774,958 )
Financing activities 3,024,061 1,077,456
Investing activities (2,711,867 ) (2,035,465 )
Net cash inflow (outflow) (3,268,992 ) (1,732,967 )
Cash and cash equivalents, beginning of year 3,319,627 5,052,594
Cash and cash equivalents, end of year 50,635 3,319,627
Cash and cash equivalents 50,635 3,319,627
Short-term investments 5,173,430 2,449,450
Total cash and short-term investments 5,224,065 5,769,077
NXT is a Calgary based company whose proprietary Stress Field Detection ("SFD®") survey system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey method which can be used both onshore and offshore to remotely identify areas with exploration potential for traps and reservoirs. The SFD® survey system enables our clients to focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization on areas with the greatest potential. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain, and is the registered trademark of NXT Energy Solutions Inc. NXT provides its clients with an effective and reliable method to reduce time, costs, and risks related to exploration.
Midas Letter Portfolio Holding NXT Energy Solutions Inc. NSFDF (TSX.V:SFD) closed on a 52-week high today at $2.30 a share on volume of 160,000. The company’s symbol stands for Stress Field Detection, which is the airborne technology the company uses to measure subtle alignments in the gravitational force to identify hydrocarbon reservoirs. Midas Letter subscribers were first alerted to the opportunity back in 2012 when the company was priced at around $0.80 a share
http://www.midasletter.com/2015/04/market-minute-clinton-foundation-ian-telfer-frank-giustra-urthecast-corp-tseur-nxt-energy-solutions-inc-cvesfd/
Top Picks from Jerome Hass:
Not many oil & gas related stocks that are trading near their 5-year high but there are a number of reasons why NXT is one of them. Firstly, oil & gas companies are desperately trying to reduce costs after a 50 percent drop in crude prices and NXT’s technology is 1/30th the cost of typical 3D & 2D seismic programs. Their technology helps oil & gas companies pinpoint their exploration efforts; it is not a substitute for traditional 3D & 2D seismic but instead it focuses their targets much more accurately. National oil & gas companies – which are revenue-maximizing, not profit-maximizing entities – want to increase production due to the fall in crude prices, in order to boost revenues to their respective governments. Second, NXT just signed a deal with a new client that is a national oil company. The $13 million deal should be completed by the end of Q3 with estimated gross margins of 80 percent. We believe the company is on the cusp of more of these types of deals in 2015 with Mexico, Pakistan and possibly Bolivia. We like NXT as an investment because it has very high gross margins (80-85 percent), no debt with approximately $6 million in cash, low overhead and operating costs, and a strong growth outlook. Finally, the company owns a library of data that it intends to monetize in the form of ‘verticals’. Without providing any capital of its own, NXT would supply exploration data for an area / region in exchange for a significant equity stake, rights to supply further exploration services, and a royalty income stream from production. None of this potential is yet priced into the stock.
Mackie Research Increases Target ($2.50) on NXT Energy Solutions on US$13m Award
http://www.resourcereports.com/mackie-research-increases-nxt-energy-bid-after-news-outs-on-us13m-contract/
SFD™ Contract Will ‘Bring 80% Gross Margin Quickly’
Top Canadian investment firm Mackie Research Capital reiterated its “BUY” rating for NXT Energy Solutions Inc. (SFD:TSX.v, NSFDF:OTCBB), and revised their target 31% to $2.50 from $1.90/sh.
NXT shares surged on Thursday after the company announced a new contract worth in excess of US$13 m to conduct a survey using it’s patented Stress Field Detection technology (SFD™). The tech acts as a modern, low-cost, low-environmental footprint; layer of locating prospective trapped oil and gas fluids.
Mackie points out that the US$13 m contract should yield revenue quickly, anticipating surveying to begin between Q2-Q3 this year. Based on previous contracts, this is expected to net as much as 80% gross margin.
Commenting on the news of the contract today, Mackie Research’s Raveel Afzaal, Industrial Technologies Analyst spoke to Resource Reports:
This is the largest contract that the Company has been awarded to date. We believe that this contract will further raise NXT’s profile in the O&G community, allowing it to secure additional large contracts.
Previously, Mackie Research put out a buy rating of $1.90/sh and $1.70 before that. Thursday’s news garnered a new price at $2.50.
They continue to use 11.5x P/E multiple to calculate the target price, but note that that’s a conservative estimate, and other oil and gas companies can trade between 20.0x to 30.0x P/E multiples.
NXT Energy Solutions (TSX.V:SFD, OTCBB:NSFDF, NASDAQ:NSFDF) in mid day trading is hit $2.40 per share, and closed at a five-year high of $2.05.
NXT Receives Award of a New SFD® Contract of US $13 Million
4/16/15, 3:00 AM
CALGARY, ALBERTA -- (Marketwired) -- 04/16/15 -- NXT Energy Solutions Inc. ("NXT Energy" or the "Company") (TSX VENTURE: SFD)(OTCBB: NSFDF) announces that it has received a contract award in excess of US $13 million to conduct an aerial Stress Field Detection ("SFD®") survey project.
NXT advises that execution of a formal binding contract is expected to be finalized in the next month pending delivery by NXT Energy of industry standard documentation including project performance bonds. Final contract details will be announced once available.
George Liszicasz, President and CEO of NXT Energy, noted "this contract award with another new client validates NXT's strategy of focusing on clients that seek to use SFD® to identify long term strategic reserves efficiently at low relative cost."
NXT Energy is a Calgary based company whose proprietary Stress Field Detection ("SFD®") survey system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey method which can be used both onshore and offshore to remotely identify areas with exploration potential for traps and reservoirs. The SFD® survey system enables our clients to focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization on areas with the greatest potential. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain, and is the registered trademark of NXT Energy Solutions Inc. NXT provides its clients with an effective and reliable method to reduce time, costs, and risks related to exploration.
$NSFDF $SFD.V Shares HALTED pending NEWS
Reason: At the Request of the Company Pending News
VANCOUVER , April 15, 2015 /CNW/ - The following issues have been halted by IIROC:
Company: NXT Energy Solutions Inc.
TSX-Venture Symbol: SFD
Reason: At the Request of the Company Pending News
Halt Time (ET): 12:57
IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada .
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - Halts/Resumptions
Mackie Research Increases Target for NXT Energy Solutions
VANCOUVER, BC / ACCESSWIRE / February 19, 2015 / In today's morning news Mackie Research posted an increased buy of $1.90 for exploration tech company NXT Energy Solutions (TSX.V:SFD, NSFDF:OTCBB) as it is well-placed to get a tendered exploration contract in the south-east Asian country.
Oil & Gas Development Company Limited (OGDCL) has detailed plans to carry out aerial survey on four exploration blocks in Pakistan. Companies wishing to bid are required to do so by March 5th 2015. The contract is expected to be awarded in the first half of 2015.
NXT Energy Solutions' proprietary tech SFD specialises in aerial mapping of prospect locations, helping exploration companies fine-tune areas best placed for further exploration. Mackie points out that while seismic is considered the most accurate and valuable exploration tool, SFD makes impressive correlations with the same data produced by seismic. It's clearly a new generation, green, low-cost addition to the exploration toolbox. Using Stress Field Detection to prospect for oil and gas ranks in 10 to 30 times cheaper than traditional seismic, the report continues.
Raveel Afzaal, Industrial Technologies Analyst at Mackie Research commented to Resource Reports:
"In our opinion 2015 is set to be very active for the company with lots of contracts, such as the ones in Pakistan, Mexico and Bolivia."
The report this morning highlights SFD's experience in Pakistan as adding to the value of their bid for the new Pakistan contract. In 2012 the company completed US$2.7 million survey for Pakistan Petroleum Limited (PPL). In 2013 PPL and NXT Energy Solutions worked together on an integration study which showed a strong correlation between prospect leads that SFD identifies with those discovered by seismic. More recently, in January this year NXT Energy agreed a US$1.4 million contract with Mari Petroleum Company Limited in Pakistan.
Mackie Research says in their report today that they got the chance to review NXT's tender bid documents, and firmly believe that the company is primed to secure the contract, estimated at about US$5 million.
NXT is currently in advanced talks with oil and gas companies in Mexico and Bolivia and that the value of such contracts in these countries in addition to Pakistan could produce revenue of about $15 million for 2015 alone. Further, Pacific Rubiales (PRE:TO) has is a repeated SFD customer and other clients include BP (BP:NYSE), Ecopetrol, Petrodorado Energy, Hocol.
Mackie Research Capital previously put out a buy of $1.70 for NXT Energy and has now raised that to $1.90 per share and estimate revenues of $45 million and that achieving these large contracts will help achieve 11.5x P/E multiple.
NXT Energy Solutions (TSX.V:SFD) is currently trading at $1.68 and has a market cap of $75 million.
Read more at http://www.stockhouse.com/news/press-releases/2015/02/19/mackie-research-increases-target-for-nxt-energy-solutions#jE24BxVhquq1Cj3L.99
New board member announced!!
http://money.cnn.com/news/newsfeeds/articles/marketwire/1177382.htm
NXT Energy Solutions Inc. : Mackie Research Increases Target for NXT Energy Solutions
SFD Competitively Placed for Major Pakistan Contract
VANCOUVER, BC / ACCESSWIRE / February 19, 2015 / In today's morning news Mackie Research posted an increased buy of $1.90 for exploration tech company NXT Energy Solutions (TSX.V:SFD, NSFDF:OTCBB) as it is well-placed to get a tendered exploration contract in the south-east Asian country.
Oil & Gas Development Company Limited (OGDCL) has detailed plans to carry out aerial survey on four exploration blocks in Pakistan. Companies wishing to bid are required to do so by March 5th 2015. The contract is expected to be awarded in the first half of 2015.
NXT Energy Solutions' proprietary tech SFD specialises in aerial mapping of prospect locations, helping exploration companies fine-tune areas best placed for further exploration. Mackie points out that while seismic is considered the most accurate and valuable exploration tool, SFD makes impressive correlations with the same data produced by seismic. It's clearly a new generation, green, low-cost addition to the exploration toolbox. Using Stress Field Detection to prospect for oil and gas ranks in 10 to 30 times cheaper than traditional seismic, the report continues.
Raveel Afzaal, Industrial Technologies Analyst at Mackie Research commented to Resource Reports:
"In our opinion 2015 is set to be very active for the company with lots of contracts, such as the ones in Pakistan, Mexico and Bolivia."
The report this morning highlights SFD's experience in Pakistan as adding to the value of their bid for the new Pakistan contract. In 2012 the company completed US$2.7 million survey for Pakistan Petroleum Limited (PPL). In 2013 PPL and NXT Energy Solutions worked together on an integration study which showed a strong correlation between prospect leads that SFD identifies with those discovered by seismic. More recently, in January this year NXT Energy agreed a US$1.4 million contract with Mari Petroleum Company Limited in Pakistan.
Mackie Research says in their report today that they got the chance to review NXT's tender bid documents, and firmly believe that the company is primed to secure the contract, estimated at about US$5 million.
NXT is currently in advanced talks with oil and gas companies in Mexico and Bolivia and that the value of such contracts in these countries in addition to Pakistan could produce revenue of about $15 million for 2015 alone. Further, Pacific Rubiales (PRE:TO) has is a repeated SFD customer and other clients include BP (BP:NYSE), Ecopetrol, Petrodorado Energy, Hocol.
Mackie Research Capital previously put out a buy of $1.70 for NXT Energy and has now raised that to $1.90 per share and estimate revenues of $45 million and that achieving these large contracts will help achieve 11.5x P/E multiple.
NXT Energy Solutions (TSX.V:SFD) is currently trading at $1.68 and has a market cap of $75 million.
Pakistan tender announced!!! Follow up contracts in the future
http://www.ogdcl.com/uploadfolder/tender/Details/1401.pdf
Not sure why that is. A lot going on there and future looks pretty bright...
George Liszicasz, President and CEO of NXT Energy, noted “Although our revenue levels are lagging expectations for 2014, we are in pursuit of several high-impact projects in Mexico, the USA, South America, and the Pakistan / South Asia region. We are pleased that Mexico, as part of its extensive energy industry reforms, has finally completed its “Round Zero” process, which gives clarity and certainty on which exploration areas it will retain, and which will become open to future international bid rounds. Following this, and an extensive technical review process, NXT now has the opportunity to re-focus efforts on finalizing new survey contracts, both onshore and offshore, with Mexico’s national oil company, PEMEX. Longer term, we will also be able to pursue contract opportunities with new exploration players who will be entering the Mexico market in 2015 with their Government’s announcement of the “Round One” exploration blocks that will be made available for bidding.”
Pemex blocks are being assigned and should be news of contract with NXT next week. Could very well be in the 10s of millions since they have already done 6mil and were waiting for govt to get to this point. Be on the lookout!
http://m.us.wsj.com/articles/pemex-to-be-well-provided-for-in-mexican-energy-sector-overhaul-1407875457?mobile=y
Whoa! Did someone have some extra pocket change or do they know something?
$45 million in quoted contracts! http://www.nxtenergy.com/nxt_investor_presentations.php
Are you still following?
NXT Energy Solutions Reports Earnings of $2.6 Million in Q1 2014
MAY 22, 2014 --
CALGARY, ALBERTA -- (Marketwired) -- 05/22/14 -- NXT Energy Solutions Inc. ("NXT" or the "Company") (TSX VENTURE: SFD)(OTCBB: NSFDF) advises that its interim financial and operating results for the three month quarter ended March 31, 2014 ("Q1-2014") have been filed in Canada on SEDAR at www.sedar.com, and will be available in the USA on EDGAR at www.sec.gov/edgar, and on NXT's website at www.nxtenergy.com. All selected and referenced financial information noted below should be read in conjunction with the Company's unaudited interim consolidated financial statements and related management's discussion and analysis ("MD&A") for Q1-2014.
Highlights
-- Revenues of $3.9 million -- Net earnings of $2.6 million or $0.06 per share -- Current strong financial position, with cash of approx. $8 million
George Liszicasz, President and CEO of NXT, noted, "We are very pleased with our Q1-2014 results, which generated very profitable operations, and has put us in one of the strongest working capital positions in our history. With an existing G&A 'burn-rate' of roughly $4 million per year, we have a solid foundation to continue to advance numerous new project opportunities which we have been pursuing in South and Central America, the USA, and the Pakistan / South Asia region. Dealing with National Oil Companies and other exploration companies can be a long process, but we feel that our ongoing patience and perseverance will soon be rewarded."
NXT intends to host a conference call to discuss Q1-2014 and other developments in the next 2 weeks, and will advise of the details as soon as scheduling permits.
Highlights of unaudited interim Financial Results
Highlights of NXT's Q1-2014 interim consolidated financial statements, with comparative figures for the three month period ended March 31, 2013 ("Q1-2013") are as follows:
(unaudited - all in Canadian $) Q1-2014 Q1-2013 ---------------------------------------------------------------------------- Survey revenues $ 3,913,367 2,684,095 Survey expenses 333,188 1,542,248 General & administrative expenses 947,528 931,650 Amortization and other expenses, net 4,118 18,230 Increase (decrease) in fair value of US$Warrants 42,800 (172,000) ---------------------------------------------------------------------------- 1,327,634 2,320,128 ---------------------------------------------------------------------------- Income before income taxes 2,585,733 363,967 Income tax expense - 399,546 ---------------------------------------------------------------------------- Income (loss) for the period 2,585,733 (35,579) ---------------------------------------------------------------------------- Income (loss) per common share - Basic 0.06 (0.00) Income (loss) per common share - Fully diluted 0.05 (0.00) # of common shares outstanding as at end of the period 44,693,843 39,554,959 Weighted average # of common shares outstanding for the period 43,100,789 41,554,959 Cash provided by (used in): Operating activities: Net income (loss) for the period 2,585,733 (35,579) Add back non-cash items, net 188,729 (51,556) -------------------------------------------------------------------------- 2,774,462 (87,135) -------------------------------------------------------------------------- Net change in non-cash working capital balances (3,807,608) (776,265) -------------------------------------------------------------------------- Net cash (used in) operating activities (1,033,146) (863,400) Financing activities 2,828,416 - Investing activities (1,009,685) (1,804,516) ---------------------------------------------------------------------------- Net cash inflow (outflow) 785,585 (2,667,916) Cash and cash equivalents, beginning of the period 3,319,627 5,052,594 ---------------------------------------------------------------------------- Cash and cash equivalents, end of the period 4,105,212 2,384,678 ---------------------------------------------------------------------------- Cash and cash equivalents 4,105,212 2,384,678 Short-term investments 3,457,010 1,955,000 ---------------------------------------------------------------------------- Total cash and short-term investments 7,562,222 4,339,678 ----------------------------------------------------------------------------
NXT is a Calgary-based company whose proprietary Stress Field Detection ("SFD®") survey system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey method which can be used both onshore and offshore to remotely identify areas with exploration potential for traps and reservoirs. The SFD® survey system enables our clients to focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization on areas with the greatest potential. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain, and is the registered trademark of NXT Energy Solutions Inc. NXT provides its clients with an effective and reliable method to reduce time, costs, and risks related to exploration.
Forward-Looking Statements
This news release may include forward-looking statements. When used in this document, words such as "intends", "plans", "anticipates", "expects" and "scheduled", are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statements. Risk factors facing NXT are described in its most recent MD&A for the year ended December 31, 2013 which has been filed electronically by means of the System for Electronic Document Analysis and Retrieval ("SEDAR") located at www.sedar.com. Such forward-looking statements are made as at the date of this news release, and the Company assumes no obligation to update or revise them, either publicly or otherwise, to reflect new events, information or circumstances, except as may be required under applicable securities law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Exchange accept responsibility for the adequacy or accuracy of this release.
Contacts:
NXT Energy Solutions Inc.
Greg Leavens
V-P Finance & CFO
(403) 206-0805
NXT Energy Solutions Inc.
George Liszicasz
President & CEO
(403) 206-0800
www.nxtenergy.com
Investor Relations:
kin communications inc.
(604) 684-6730 / 1-866-684-6730
sfd@kincommunications.com
www.kincommunications.com
It's a little quiet in here! Things are looking great for the company. Will be attending the Annual Meeting in Santa Barbara, CA this June. Should have some nice developments coming to fruition this summer. Stay tuned.
New Spy Technology to Spawn Oil Revolution
By James Burgess | Thu, 27 February 2014 23:32
Oilprice.com
The future of oil exploration lies in new technology--from massive data-processing supercomputers to 4D seismic to early-phase airborne spy technology that can pinpoint prospective reservoirs.
Oil and gas is getting bigger, deeper, faster and more efficient, with new technology chipping away at “peak oil” concerns. Hydraulic fracturing has caught mainstream attention, other high-tech developments in exploration and discovery have kept this ball rolling.
Oil majors are second only to the US Defense Department in terms of the use of supercomputing systems, which find sweet spots for drilling based on analog geology. These supercomputing systems analyze vast amounts of seismic imaging data collected by geologists using sound waves.
What’s changed most recently is the dimension: When the oil and gas industry first caught on to seismic data collection for exploration efforts, the capabilities were limited to 2-dimensional imaging. The next step was 3D, which gives a much more accurate picture of what’s down there.
The latest is the 4th dimension: Time, which allows explorers not only to determine the geological characteristics of a potential play, but also tells them how a reservoir is changing in real time. But all this is very expensive. And oilmen are zealous cost-cutters.
The next step in technology takes us off the ground and airborne—at a much cheaper cost—according to Jen Alic, a global intelligence and energy expert for OP Tactical.
The newest advancement in oil exploration is an early-phase aerial technology that can see what no other technology—including the latest 3D seismic imagery—can see, allowing explorers to pinpoint untapped reservoirs and unlock new profits, cheaper and faster.
“We’ve watched supercomputing and seismic improve for years. Our research into new airborne reservoir-pinpointing technology tells us that this is the next step in improving the bottom line in terms of exploration,” Alic said.
“In particular, we see how explorers could reduce expensive 3D seismic spending because they would have a much smaller area pinpointed for potential. Companies could save tens of millions of dollars.”
The new technology, developed by Calgary’s NXT Energy Solutions, has the ability to pinpoint prospective oil and gas reservoirs and to determine exactly what’s still there from a plane moving at 500 kilometers an hour at an altitude of 3,000 meters.
The Stress Field Detection (SFD) technology uses gravity to gather its oil and gas intelligence—it can tell different frequencies in the gravitational field deep underground.
Just like a stream is deflected by a big rock, SFD detects gravity disturbances due to subsurface stress and density variations. Porous rock filled with fluids has a very different density than surrounding solid rocks. Remember, gravity measurement is based on the density of materials. SFD detects subtle changes in earth’s gravitational field.
According to its developers, the SFD could save oil and gas companies up to 90% of their exploration cost by reducing the time spent searching for a reservoir and drilling into to it to determine whether there’s actually any oil and gas still there.
“Because it’s all done from the air, SFD doesn’t need on-the-ground permitting, and it covers vast acreage very quickly. It tells explorers exactly where to do their very expensive 3D seismic, greatly reducing the time and cost of getting accurate drilling information,” NXT Energy Solutions President and CEO George Liszicasz, told Oilprice.com in a recent interview.
Mexico’s state-owned oil company Pemex has already put the new technology to the test both onshore and offshore in the Gulf of Mexico, and was a repeat customer in 2012. They co-authored with NXT a white paper on their initial blind-test used of the survey technology.
At first, management targeted the technology to frontier areas where little seismic or well data existed. As an example, Pacific Rubiales Energy is using SFD technology in Colombia, where the terrain, and environmental concerns, make it difficult to obtain permits and determine where best to drill.
The technology was recently contracted in the United States for unconventional plays as well.
By. James Burgess of Oilprice.com
http://oilprice.com/Energy/Energy-General/New-Spy-Technology-to-Spawn-Oil-Revolution.html
Nov. 27, 2013, 6:31 a.m. EST
NXT Energy Announces US $1.1 Million SFD(R) Survey Contract in the USA
Highlights - NXT signs US $1.1 million SFD(R) survey contracts with Kerogen Exploration - Contract covers two resource plays in the continental USA
CALGARY, ALBERTA, Nov 27, 2013 (Marketwired via COMTEX) -- NXT Energy Solutions Inc. ("NXT Energy" or the "Company") (tsx venture:SFD) NSFDF -0.62% announces that it has signed contracts with a new client, Kerogen Exploration LLC ("Kerogen"), to conduct two pilot SFD(R) surveys in Texas and Florida, USA, totaling US $1.1 million.
Kerogen is a private company financed by Riverstone Holdings LLC, and operates in Texas and Florida, holding 100,000 acres in Texas in the Permian Basin and 125,000 acres in the South Florida basin. Murray Grigg, Kerogen's President and CEO noted "We are pleased to apply this new technology to our unconventional play effort".
George Liszicasz, NXT's President & CEO noted "This is a great opportunity to build our presence in the USA, as well as build on our prior shale basin experience in North America. We are pleased to add Kerogen as a new client to our expanding customer base, and to have the opportunity to conduct these pilot surveys to explore for both traditional and resource plays. We look forward to working with Kerogen to become an integral part of their future on-shore and off-shore exploration programs."
NXT Energy continues its efforts towards finalizing the terms of other near-term survey opportunities in Central and Latin America and will seek to co-ordinate the timing of the Kerogen surveys as soon as practical in conjunction with one of these other potential projects.
NXT Energy also advises that it will be presenting at the upcoming annual LD Micro VI: Main Event Conference to be held in Los Angeles, California at the Luxe Sunset Hotel on December 3-5, 2013. LD Micro publishes a by-invitation newsletter, and focuses on compelling micro-cap (under $500 million) value and growth stocks.
NXT Energy Solutions Inc. is a Calgary based company whose proprietary Stress Field Detection ("SFD(R)") survey system provides an effective and reliable method to reduce time, costs, and risks related to hydrocarbon exploration. The SFD(R) system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne exploration survey method. SFD(R) can be used both onshore and offshore to remotely identify areas with exploration potential for traps and reservoirs, and enables our clients to focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization on areas with the greatest potential. SFD(R) is environmentally friendly and unaffected by ground security issues or difficult terrain, and is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statements:
This news release may include forward-looking statements. When used in this document, words such as "intends", "plans", "anticipates", "expects" and "scheduled", are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statements. Risk factors facing NXT are described in its most recent MD&A for the year ended December 31, 2012 which has been filed electronically by means of the System for Electronic Document Analysis and Retrieval ("SEDAR") located at www.sedar.com. Such forward-looking statements are made as at the date of this news release, and the Company assumes no obligation to update or revise them, either publicly or otherwise, to reflect new events, information or circumstances, except as may be required under applicable securities law.
Specific forward-looking statements include the estimated timing of the contract. Specific risk factors include the weather conditions, regulatory permits, and other local factors which may adversely impact the Company's ability to conduct the survey contracts.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Exchange accept responsibility for the adequacy or accuracy of this release.
SOURCE: NXT Energy Solutions Inc.
http://www.marketwatch.com/story/nxt-energy-announces-us-11-million-sfdr-survey-contract-in-the-usa-2013-11-27-61733113?reflink=MW_news_stmp
Insight: Value of Stress Field Detection technology in early-stage exploration
Friday, September 06, 2013
Findingpetroleum.com
Overview of Stress Field Detection (SFD®)
The SFD® system utilizes quantum-scale sensors to detect gravity field perturbations which are induced by terrestrial stress energy variations, primarily in the horizontal plane. Significant subsurface discontinuities or anomalies are inherently associated with, and dependent on, subsurface principal stresses. As a consequence, the discontinuities will distort stress fields, resulting in a unique in-situ stress pattern.
SFD® has been used by oil and gas companies to identify subsurface stress-field anomalies related to trapped fluids. This technology offers a leap in cost-effective rapid reconnaissance for early-stage exploration from an airborne platform.
Heuristic Explanation
The subsurface geological condition required for SFD® to detect gravity field perturbations which arise due to stress variations in the horizontal direction is the occurrence of a structural and/or stratigraphic change discontinuity with sufficient difference in elastic properties. An important source of elastic variations is the presence of trapped fluids (oil, gas, or water). Other sources include faulting / fracturing, over-pressure, major lithological changes and basin boundaries. In general, all major discontinuities will evoke a distinct SFD® response. The variation of the shear component around and in reservoirs will result in the redistribution and orientation change of the stress fields (Figure 1).
Figure 1. Plan view of principal horizontal stress components (SHmax and SHmin) illustrating the distortion of stress fields associated with fluids trapped in a structural thrust-fault scenario. Stresses are redistributed due to a variety of sources including porosity, trapped fluids, fracturing, faulting and reservoir pressure.
Differences with Conventional Gravity and FTG
Conventional gravity surveys measure the vertical component of the gravitational field. Full tensor gravity (FTG) gradiometry measures the rate of change of all components of the gravity tensor. Two major advantages of FTG over conventional gravity are the increased resolution and the reduced noise contamination of the signal. Both methods rely on a large test mass to increase the sensitivity in measuring subsurface density variations.
Both conventional gravity and FTG provide a static, point to point measurement. However, SFD® differs from both in that it employs particle scale sensor elements for dynamic detection, which enables selective sensitivity to directional changes in subsurface stress induced by poro-elastic anomalies.
Case Studies
Gulf of Mexico: Integration of Regional Geophysical Data with SFD®
The Gulf of Mexico has been an area of evolving exploration: from the continental shelf to salt-controlled basins to sub-salt and ultra-deep water plays. Covering vast areas in a cost-effective manner to identify prospective acreage is an ongoing challenge. Conventional wisdom has been to conduct regional 2D seismic surveys followed-up with 3D seismic, both sparse and detailed. Although seismic data provide high-resolution subsurface images the cost is significant. Airborne SFD® can provide a cost-effective rapid reconnaissance solution that identifies prospective areas for more focused follow-up seismic efforts.
In the Fall of 2012, PEMEX conducted an initial SFD® survey in onshore and offshore areas of the Gulf of Mexico region. Figure 2a shows a 2D seismic section from the Gulf of Mexico. The sub-salt structure appears to be encased in a sealing salt (purple) but there may be a breaching potential due to the marked faults.
The anomaly identified on seismic is verified by the SFD® anomaly (Figure 2b). This may be indicative of the presence of both trapped fluids and an effective sealing mechanism.The correlation of SFD® with seismic poses that in areas without seismic coverage, an SFD® survey could help propose where to put in a capital-intensive high-resolution seismic program.
Figure 2. Correlation of regional 2D seismic data with SFD®: a) Seismic anomaly PMX-2.16 and b) corresponding SFD® signal.
Furthermore SFD® is effective irrespective of the presence of salt or bathymetry. As such, SFD® can serve as an important complementary method to be used in conjunction with other exploration technologies.
While seismic surveys offer excellent resolution and structural definition, they do not always easily lend themselves to identifying fluid properties in the absence of additional information. New methods, such as controlled-source electromagnetics (CSEM), are becoming more accepted tools to investigate fluid indicators on qualified prospects. Figure 3 illustrates another Gulf of Mexico example correlating SFD® with CSEM high-resistivity anomalies associated with hydrocarbons. Figure 3a is a map of CSEM resistivity overlain by an SFD® survey line. There are two high-resistivity anomalies (dashed red ovals) identified as PMX-2.44 and PMX-2.15 which have corresponding SFD anomalies (solid red bars). The SFD® profile for PMX-2.44 is shown in Figure 3b. In this example, both CSEM and SFD® have identified potential fluid anomalies.
Figure 3. Correlation of regional CSEM data with SFD®: a) CSEM resistivity anomaly map with dashed red ovals Indicating high-resistivity anomalies at PMX-2.44 and PMX-2.15 and b) corresponding SFD® signal over PMX-2.44.
Colombia: Optimizing Lease Relinquishments with SFD
A common exploration challenge is to determine the best acreage to retain within a large lease. In 2010 NXT Energy Solutions conducted an airborne SFD® survey covering 7,500km2over the Tacacho and Terecay Blocks in Colombia for Pacific Rubiales.Figure 4a shows the approximately 7,000 line km of SFD®data (red lines) which were acquired, processed and interpreted to provide an evaluation in less than two months time. As a result of this rapid turnaround, the leaseholder was able to identify the areas to be relinquished. Figure 4b shows the retained areas in red outline. The SFD® anomalies are indicated in the blue boxes and the green outlines represent the client’s assessment of anomaly areas using other technical data acquired subsequent to the SFD® survey.
Figure 4. High-grading blocks for exploration: a) Blocks with flight lines (red) and existing seismic lines (black) and b) blocks containing the best SFD® anomalies and retained acreage outlined (red boxes). SFD® anomalies are identified with blue boxes and the clients assessment of anomalies using numerous G&G methods are indicated by green outlines.
Benefits for Early Stage Exploration
Rapid and efficient exploration reconnaissance over large areas of virgin acreage in an environmentally sensitive manner
Identification of prospect areas with potential trap, reservoir quality and seal integrity
Effective in both onshore and offshore environments
Insensitive to both water depth and the presence of salt
Prioritize exploration activity (e.g., seismic programs) on identified leads
Author: George Liszicasz, President & CEO
Company: NXT Energy Solutions Inc.
Read more: http://www.findingpetroleum.com/n/Insight_Value_of_Stress_Field_Detection_technology_in_earlystage_exploration/754fb970.aspx#ixzz2k0UqVC8h
NXT Energy Solutions
Locations of Completed Surveys
Over 250,000 Line Kms
http://www.nxtenergy.com/business_completed_surveys.php
Petrotech Journal
April - June 2012 issue
(Pages 3-4)
by: Sudhir Vasudeva (Gmd-ONGC)
http://www.petrotechsociety.org/journals/Apr-Jun-2012/
Why Chen Lin Is Buying Fracking Stocks And Selling Gold Holdings
Nov. 1, 2013
TheEnergyReport
Chen Lin, author of What is Chen Buying? What Is Chen Selling?, goes wherever he sees returns. In the summer, he bought mining stocks when the yellow metal hit $1,200 per ounce. Now, he's trading in his gold names and moving into the fracking space after a three-year hiatus. In this interview with The Energy Report, Lin names the companies he's buying to play a likely energy sector bottom and tells investors to actively manage their portfolios in the coming stock-picker's market.
Section of article:
CL: Recently I found a very interesting stock I've been accumulating. The company name is NXT Energy Solutions (OTC:NSFDF) [SFD:TSX.V]. It can fly airplanes over a field and detect if oil is present or not. It recently did a very large survey with PEMEX [Petróleos Mexicanos], the Mexican oil company. PEMEX already has seismic data on a certain field, they knew where it has oil deposits and where it doesn't. PEMEX asked NXT to fly over, and the results were shockingly good. NXT found every large field for PEMEX! The report is on the website. PEMEX is the co-author.
If NXT can continue like this, it can change the oil industry as we know it. You probably need seismic later on to pinpoint where the oil is, but you can fly a plane over a very broad space and then detect where the oil is. That will be a revolution in the oil industry. It's a very interesting company. It has a strong balance sheet. Recently it has started to go to the oil exploration companies and negotiate payment through royalties in exchange for its services. That can be a very interesting move. It's an interesting company. I think if everything's successful it has a very bright future.
TER: What is your outlook on energy in general for the next year?
CL: Like I said, I'm cautious about the oil price in 2014. The production from the U.S. and Canada is just amazing. If you read the Eagleford reports and Bakken reports you can see how many new wells are drilled. The completion techniques are getting better and deliver more oil production during the life of a well. I'm a little bit afraid the oil will fall much below $100/bbl. It's possible.
On one hand, you have very high oil prices now. Most of my energy companies are making money. They're doing fantastically. Though I'm not very confident the high oil price is here to stay. I want to remind everyone that if oil drops to below $80/bbl, the party of fracking stocks may be over. I would be careful and take profits as they go up. I'm going to watch the market month by month and see if the situation changes. I also believe that 2014 will be a stock pickers' market. If you pick the right stock with the right catalyst, a stock can go up a lot just on its own. That's what I'm looking at for 2014.
TER: Chen, thank you very much. This has been a fascinating conversation.
CL: Thank you. I appreciate it.
This interview was conducted by Tom Armistead of The Energy Report.
Chen Lin writes the popular stock newsletter What Is Chen Buying? What Is Chen Selling?, published and distributed by Taylor Hard Money Advisors Inc. While a doctoral candidate in aeronautical engineering at Princeton, Chen found his investment strategies were so profitable that he put his Ph.D. on the back burner. He employs a value-oriented approach and often demonstrates excellent market timing due to his exceptional technical analysis.
DISCLOSURE:
1) Tom Armistead conducted this interview for The Energy Report and provides services to The Energy Report as an independent contractor. He or his family owns shares of the following companies mentioned in this interview: None.
2) The following companies mentioned in the interview are sponsors of The Energy Report: None. Streetwise Reports does not accept stock in exchange for its services or as sponsorship payment.
3) Chen Lin: I or my family own shares of the following companies mentioned in this interview: Ithaca Energy Inc., Penn Virginia Corp., Harvest Natural Resources, BNK Petroleum, Rock Energy, RMP Energy and NXT Energy Inc. I personally am or my family is paid by the following companies mentioned in this interview: None. My company has a financial relationship with the following companies mentioned in this interview: None. I was not paid by Streetwise Reports for participating in this interview. Comments and opinions expressed are my own comments and opinions. I had the opportunity to review the interview for accuracy as of the date of the interview and am responsible for the content of the interview.
4) Interviews are edited for clarity. Streetwise Reports does not make editorial comments or change experts' statements without their consent.
5) The interview does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer.
6) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned and may make purchases and/or sales of those securities in the open market or otherwise.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
http://seekingalpha.com/article/1797022-why-chen-lin-is-buying-fracking-stocks-and-selling-gold-holdings
Taylor MacDonald Unearths Profit-Makers in the Oil and Gas Service Sector
Source: Zig Lambo of The Energy Report (9/20/12)
Everyone agrees that high energy prices are here to stay, so most companies should perform well in the long run. But what about near-term opportunities? Taylor MacDonald, associate portfolio manager at Pathfinder Asset Management, is looking to service companies for industry outperformance. In this exclusive interview with The Energy Report, he describes why proprietary niche service companies virtually own the markets they are establishing.
Section of article:
TER: With regard to profit margins, how sensitive to oil prices are most companies at this point, relative to future exploration activities and the profits that they are making right now?
TM: Cost inflation is something that every single business space is currently experiencing, not just oil and gas. Companies must do whatever they can to become more efficient and save on exploration, development and production costs, etc. One company we are very keen on is Calgary-based NXT Energy Solutions (SFD:TSX.V; NSFDF:OTCBB), which has a disruptive, patented and patent-pending airborne survey technology for oil and gas exploration called Stress Field Detection (SFD).
SFD is a little difficult to explain, but it's essentially a jet with a passive sensor array on board that flies a grid over large swaths of land looking for drops in the gravity stress field. Surveys can be completed in one-tenth of the time and cost of 2-D and 3-D seismic surveys. This doesn't replace seismic, but rather pinpoints where to shoot the seismic. It allows companies to survey hard-to-reach areas with virtually zero environmental impact. The technology is fully proven and can be used onshore, offshore, and in mountainous terrain. It's been used and verified by Pacific Rubiales Energy Corp. (PRE:TSX; PREC:BVC), Pengrowth Corp (PGH:NYSE), Pemex (PEMEX:MSX), BP Colombia (NYSE:BP) and Ecopetrol (Colombia's national oil company).
To envision the process, imagine a river with a rock in the middle. As the river, an analogue for the stress field, reaches the rock, it will wrap around it. This means that the river, or again, the stress field, will have to change direction, which shows up in the gravity field, where the SFD can detect it. It's based on quantum physics. Flying a grid pattern, the SFD equipment measures and detects orientation changes in that stress. A trapped reservoir, for example, will affect the SFD, and allows delineation of prospective areas. The fluid could be oil, gas and/or water. The resulting data shows exactly where to shoot your 2-D and 3-D seismic.
This technology slashes permitting time, lessens environmental impact, and can literally save a company up to 90% on seismic acquisition costs. The technology only requires a flight plan, not exploration permits, which allows NXT to mobilize quickly instead of waiting up to three years just for the seismic permit. SFD also improves the success rate dramatically on wildcat exploration wells in frontier areas. NXT Energy has a growing revenue base and client list, with a rapidly increasing acceptance of the technology. It's also profitable on an earnings-per-share (EPS) basis over the last two quarters, and is a well-held and well-structured company. We think the company's future is very bright.
TER: Is this somewhat similar to airborne geophysical surveys for mineral deposits?
TM: Yes. But I would say this is much more precise in that it can tell you exactly where to find million-barrel fields. There's also the ability to locate water aquifers. Who knows where it could lead? This is one of the most interesting technologies I've seen in the business in my years in the industry.
TER: That's definitely a revolutionary technology. What else do you like in the services?
Continued ...
http://www.theenergyreport.com/pub/na/14393
What a great run we've had!
Disruptive Technology that few are aware of!
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TSX-V: SFD, OTCQB: NSFDF A Canadian Public Company http://www.nxtenergy.com/
SFD® – a Dynamic Approach to Hydrocarbon Prospecting!
NXT’s airborne SFD® survey system enables our clients to focus and optimize their hydrocarbon exploration decisions on manageable, high-graded prospect areas with the greatest potential.
Fast-track the exploration process, and high-grade reservoir prospects with SFD®, the only remote sensing technique which can very rapidly identify trapped reservoirs, on a very cost effective basis.
SFD® is an airborne exploration survey method - this aids in minimizing the overall on-ground impact of exploration activities (seismic line clearing, etc) on both the environment and local communities.
A P R O V E N , I N N O VAT I V E T E C H N O L O G Y F O R
H Y D R O C A R B O N E X P L O R AT I O N
NXT Energy Solutions Inc.
is a service provider to the upstream Oil & Gas Industry:
NXT’s method will identify the best oil and gas prospects
Frontier exploration areas can offer the largest rewards but obstacles surrounding the acquisition of 2D regional seismic can stand in the way of making the best decisions in a reasonable timeframe. Even if you overcome the obstacles, a 2D seismic program is a costly solution. Acquiring conventional gravity and magnetic data provide a preliminary investigation of basement structures and sediment thickness but does not deliver information about reservoir. Optimal placement of seismic can mean the difference between relinquishing a block and drilling a discovery well.
SFD® represents a new generation of airborne geophysical surveys that can identify areas of reservoir potential within the sedimentary column, so you can focus your seismic programs and G&G resources on realizing it.
SFD® deliverables include a report which identifies and ranks areas for trap and reservoir prospectivity. SFD® interpretation results may be gridded to create a prospectivity map. Integration projects will ensure SFD® results are calibrated to existing G&G data.
Bidding Rounds
• While there is no time to acquire seismic prior to bidding, SFD® can evaluate the bid blocks and provide a competitive edge
• NXT has multi-client data available in Canada and Colombia
• Operators have successful utilized SFD® to replace part of their seismic commitment
• Colombia has approved SFD® to be bid for remote sensing commitments
Frontier exploration, licensing and technical evaluation areas
• Identify areas of best reservoir potential to focus seismic acquisition
• Enable decisions on purchasing or relinquishing lands
Re-evaluation of potential in mature areas
• Identify areas with remaining reservoir potential
• Focus resources and data purchase decisions
Lead generation and prospect evaluation
• Equally effective onshore and offshore
• Enables re-evaluation of seismic to envision other types of plays that would normally be bypassed
• Provide independent verification of reservoir potential
• Correlate to known reservoir analogs
• SFD® is equally effective across geologic settings
_________________________________________________________________________________________________________________________________
Survey Design
Each NXT survey is tailored to meet the clients needs.
Extensive joint planning ensures that;
• Grid density matches customer specifications
• Flight lines are created covering analogues
• Geological features (faults, facies changes etc) are taken into account
• These factors ensure both quality of data and comprehensive coverage of target areas and plays. Once completed, NXT provides a map of the planned flights (both hard and soft copies) as well as digital versions of the flight lines to integrate with the customer's software solutions.
Data Acquisition
NXT utilizes multiple Citation 560 series jet aircraft that have been modified to meet our survey requirements. These jets are well suited for international operations as they will provide required flying range. The surveys are flown at high speed (400 km/hr) and at an altitude of between 300-900 meters. Strict procedures are in place to insure the highest standards of safety and security during survey operation. During the data acquisition phase of a survey NXT follows strict flight parameters and vigorous quality controls to ensure the best quality of data. Preliminary results enable quick decisions on additional flight lines for verification or infill. Daily or weekly updates are presented to the customer to be kept abreast of our progress.
SFD Interpretation
Preliminary Interpretation Phase
The interpretation process starts with a blind interpretation so no bias is introduced. All anomalies are identified and ranked during this process.
Template cross-reference Phase
The purpose of this phase is to fine tune the initial interpretation. The integration of geologic knowledge may modify interpretation focus to better identify specific play types. NXT then catalogues all anomalies found in a survey area which are analyzed and turned into leads. Leads are then ranked according to prospectivity.
Customer input
NXT strives to work with our customer's G&G teams to include other geophysical data in the interpretation process.
SFD Integration
The modern explorationist uses numerous tools in the search for oil and gas. It is therefore important to be able to integrate all the outputs from these tools. NXT has years of experience integrating SFD data with other G&G data from prospect locations.
Final deliverables
The end result is a report detailing SFD leads with corresponding templates/analogues. A map showing locations and ranking of all SFD leads is included.
Industry Presentation: http://www.nxtenergy.com/sfd-technology/technical-presentation
Investor Presentation: http://www.nxtenergy.com/investor-relations/nxt-investor-presentation
______________________________________________________________________________________________
NXT’s goal is to continue expanding industry acceptance and use of our proprietary Stress Field Detection (“SFD”) airborne survey technology, and make SFD an integral part of our clients oil & gas exploration programs. Gaining repeat business from existing clients, and building on new case studies which showcase the capabilities of SFD in identifying reservoir prospects in varying geological settings is aiding in achieving this goal.
NXT is currently selling our aerial survey services on a fee for service basis (based on line km of survey data acquired). The business model can also expand to allow NXT the opportunity to generate additional revenue streams by acquiring proprietary speculative (“spec”) data for future resale in new survey regions flown, and participating in the success arising from survey data acquired, by way of:
Our target client base includes all of the major national oil companies (“NOCs”) which hold or take an ownership interest in the majority of unexplored acreage. Many of the NOCs are also active outside of their home country.
Black Goose Holdings | Nexstar Energy |
Blue Parrot Energy | Calpine Canada |
Renaissance Energy | Camwest Exploration |
Encal Energy | Result Energy |
Infinity Oil and Gas | Rosetta Energy |
EcoPetrol | Virtus Energy |
Pacific Rubiales Energy | Hocol S.A |
Board of Directors
NXT’s Board of Directors currently consists of seven members, six of which are non-management, independent directors. The Board members have a diverse business background, and extensive experience with public companies, and with entities involved in oil and gas exploration and production.
NXT’s Board also has four independent Committees whose mandates are to advise the Board on various matters – the Audit, Compensation, Governance, and Disclosure Committees.
Mr. Liszicasz is the inventor of the SFD® technology and has been Chairman and Chief Executive Officer since the Corporation's inception in 1996. He was born in Hungary where he received his degree in Electronics in 1975, and later attended the University of British Columbia, studying physics and general sciences. Mr. Liszicasz is an inventor of a number of novel technologies, including electronic control systems, medical lasers and geophysical instruments.
Mr. Liszicasz’ primary responsibilities as the President and CEO are to oversee all operations and to further develop the SFD® technology. He joined NXT's Board in 1996.
Mr. Abougoush is a professional engineer with over 40 years of experience in the petroleum industry, largely in technical and executive positions. He is currently the chairman of Teknica Overseas Ltd., an international consulting company. He previously was chairman of SQFive Intelligent Oilfield Solutions Ltd., and also served as president of Teknica Petroleum Services Ltd., both international consulting and software development companies. He was formerly a director of CCR Technologies Ltd. and WellPoint Systems, Inc., both of which were public companies listed on the TSX Venture Exchange.
Mr. Abougoush joined NXT's Board in 2007 and is a member of NXT’s Audit and Governance Committees.
Mr. Agee recently retired following a 25+ year career in senior executive positions with various prominent US families, including the Carlson Family in Minneapolis, Minnesota (owners of Radisson, Country Inns and Suites, and TGI Friday's) from 2010 through February 2011, and the Steve Case Family in Washington, DC from 2000 through 2009 (Steve Case is the co-founder of America Online). Mr. Agee also served on numerous private, public, and non-profit Boards, and currently consults part-time in matters related to wealth management and is a CPA (inactive). He is a former director of Maui Land and Pineapple, a New York Stock Exchange listed company
Mr. Agee has a BA in economics and accounting from St. John's University, Collegeville, Minnesota, and a MBA from the University of Minnesota.
Mr. Agee joined NXT's Board in 2011 and is the Chairman of NXT’s Audit Committee, and a member of its Compensation and Governance Committees.
Mr. Selby holds a B. Sc. (Hons) in Chemical Engineering, a J.D. degree and is a registered professional engineer in the Province of Alberta. Mr. Selby is also the Chairman and CEO of Montana Exploration Corp., a TSX-V reporting issuer. He is the president of Caledonian Royalty Corporation and Caledonian Global Corporation, both private entities which are involved in oil & gas exploration and production. He is a former officer (1993 to 2010) of Pengrowth Corporation, which administered Pengrowth Energy Trust, a large North American energy royalty trust.
Mr. Selby has also previously been a director of several other Canadian reporting issuers.
Mr. Selby joined NXT's Board in 2006 is the Chairman of NXT’s Compensation Committee, and a member of its Audit and Disclosure Committees.
Mr. Tilson joined NXT's Board in February 2015.
Mr. Tilson obtained MBA and CFA designations and had a distinguished career as an analyst, portfolio manager, and advisor in the US investment and financial industry with such firms as Sutro & Company and EF Hutton & Company. John joined Roger Engemann and Associates in 1983 when assets under management were roughly US $160 million. During his tenure there, the Pasadena Group of Mutual Funds was started, with Pasadena Capital Corporation formed as the holding company for the mutual funds and investment management business. After working as an analyst and portfolio manager, John later became Executive Vice President & Managing Director of Pasadena Capital Corporation. Assets under management had grown to over US $5 billion by the time the firm was sold to Phoenix Companies in 1997. Mr. Tilson later retired in 2005. Mr. Tilson now resides in Montecito, California, and from 2006-2012 was a member of the Board of Trustees, including three years serving as VP and Chairman of the long-range planning committee, for Lotusland, a Santa Barbara non-profit organization established by Madame Ganna Walska.
Mr. Valentine is a Partner with the Calgary office of Norton Rose Fulbright LLP, and has practiced law, both as a Barrister and a Solicitor, since his call to the Bar in 1987. He is a member of the firm’s Global Resources Practice Group and is involved in energy and energy related matters throughout the Middle East, North Africa, the CIS, Asia and South America. He has extensive experience with international law and projects,
Mr. Valentine's work focuses on oil and gas projects, with an expertise in international LNG projects and developments. Mr. Valentine is a member of the Board of Directors of three other Canadian public companies, Calvalley Petroleum Inc., Veraz Petroleum Ltd., and Touchstone Exploration Inc
Mr. Valentine holds a BA from the University of British Columbia, a LLB from Dalhousie University, and a LL.M. from the London School of Economics.
Mr. Valentine joined NXT's Board in 2007 and is the Chairman of NXT’s Governance Committee, and a member of its Compensation Committee.
Mr. Vathyam is an independent businessman, and was previously (to October 2013) the Chairman and CEO of Petrodorado Energy Ltd., a Colombia focused junior oil and gas exploration and production company which he founded in early 2009. He also has extensive experience in international markets; having spent 23 years with Schlumberger, a leading global oilfield services company.
Mr. Vathyam joined NXT's Board in 2013 and is a member of NXT’s Compensation and Governance Committees.
The Advisory Board of NXT Energy includes geoscientists and other independent professionals whose experience is drawn on to assist in advancing industry awareness and use of the Company’s proprietary Stress Field Detection ("SFD®") aerial survey system.
Dr. George Iusco is based in Madrid, Spain, where he leads the New Ventures Group for Repsol YPF, a major international exploration and production company. He possesses over 30 years of exploration experience in the petroleum industry, and has held senior positions with Gulf Oil, Exxon, and Venezuela’s PDVSA. His extensive international exploration experience includes Venezuela, Mexico, Peru, Ecuador, Colombia, Trinidad, Central America, Argentina, Brazil, Kazakhstan, the Middle East, North Sea, West Africa, Alaska, the US Gulf Coast, and other areas in North America. He is an expert in evaluating complex structural and stratigraphic settings, integrating geophysical and geological technologies in order to detect, rank, and evaluate new prospective areas and formulate new exploration strategies. Mr. Iusco received a M.S. in Geology from the University of Bucharest and a M.S. in Geophysics from the Petroleum Institute in Bucharest, Romania.
Professor Cleveland Jones is currently with the National Oil & Gas Institue of Brazil, in Rio de Janeiro, and is involved primarily with research of innoviate oil & gas exploration technologies, assessment methodologies, and energy policy. He has consulted for international oil and gas companies worldwide, and is a sought-after academic commentator on energy policy issues.
Professor Jones graduated in Physics and Economics from Cornell University (Ithaca, NY), obtained a post-graduate degree in Oil and Gas Engineering, as well as a Masters and Doctoral degree in Geology, from the State University of Rio de Janeiro. Professor Jones is fluent in English, Portuguese and Spanish.
Dr. Arief Budiman is a faculty member with the Mechanical and Manufacturing Engineering Department at the University of Calgary, specializing in mechanics, phase transitions and materials science. He obtained a Ph.D. degree from the University of Toronto and is a Professional Engineer.
He is currently working with NXT in R&D programs to further develop understanding and acceptance of the SFD® technology within the oil and gas industry, including developing mathematical principles to explain and model the interactions between subsurface stress, gravity patterns, and the SFD® system.
George Allen served as Governor of the Commonwealth of Virginia from 1994 to 1998, and as US Senator from 2001 to 2007. Gov. Allen currently is Co-chair of the Competitiveness Initiative for the National Association of Manufacturers, Reagan Ranch Presidential Scholar for the Young America's Foundation, Ambassador of the Ass'n for Passive Optical LAN technology, and serves on several boards, including Armada Hoffler (AHH: NYSE), Nano Risk Assessment, Inc., and the National Ass'n for Jobs and Innovation. In 2009 he launched the American Energy Freedom Center, whose mission includes promoting American jobs, economic prosperity and competition in the development and use of America’s vast energy resources.
_______________________________________________________________________________________________________________________________________(updated as of January 31, 2015) | in millions | |
Common shares - issued and outstanding | 44.8 | |
Convertible Preferred shares (convert on 1:1 basis, mature Dec 31, 2015) | 8.0 | |
Additional shares reserved for exercise of outstanding | ||
Stock Options (average exercise price $1.08) | 3.1 | |
Fully diluted number of shares | 55.9 | |
Directors & Officers / Insiders ownership position | Basic | 19 % |
Fully Diluted | 32 % | |
Debt outstanding | $ nil |
The convertible preferred shares are non-interest bearing, non-voting, and were issued in 2005 pursuant to the utilization of and acquisition of the SFD technology.
-V: SFD, OTCBB: NSFDFNXT may be followed by various investment community Analysts who periodically publish their coverage of NXT. Readers are cautioned that the following information regarding independent Analysts is provided as a service only. NXT believes but does not guarantee that the list of analysts is comprehensive. All of the analyst contact information has been posted with permission. Please feel free to contact them directly for information.
Name And Company | Email and Website | Analyst Phone # |
---|---|---|
Raveel Afzaal, CFA | rafzaal@mackieresearch.com | 416-860-7666 |
Mackie Research Capital Corporation |
Any opinions, estimates or forecasts made by Analysts regarding NXT's past, present or future performance are those of the Analysts alone, and may not necessarily reflect all facts or changes in circumstances. NXT does not by the reference herein imply its endorsement of or concurrence with such information, conclusions or recommendations.
NXT RECEIVES AWARD OF A NEW SFD® CONTRACT OF US $13 MILLION CALGARY, ALBERTA, April 16, 2015 -
Forward-Looking Statements
This news release may include forward-looking statements. When used in this document, words such as “intends”, “plans”, “anticipates”, “expects” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statements. Risk factors facing NXT are described in its most recent MD&A for the year ended December 31, 2013 which has been filed electronically by means of the System for Electronic Document Analysis and Retrieval ("SEDAR") located at www.sedar.com. Such forward-looking statements are made as at the date of this news release, and the Company assumes no obligation to update or revise them, either publicly or otherwise, to reflect new events, information or circumstances, except as may be required under applicable securities law.
For further information contact:
Greg Leavens, VP Finance & CFO | George Liszicasz, President & CEO |
NXT Energy Solutions Inc. | NXT Energy Solutions Inc. |
Tel: (403) 206-0805 | Tel: (403) 206-0800 |
Investor Relations |
KIN Communications Inc. |
(604)684-6730 / 1-866-684-6730 |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Exchanges accept responsibility for the adequacy or accuracy of this release.
_______________________________________________________________________________________________________________________________________
Contacts:
NXT Energy Solutions Inc.
505 - 3rd Street, S.W., Suite 1400
Calgary, Alberta Canada T2P 3E6
Phone: (403) 264-7020
Fax: (403) 264-6442
Email: nxt_info@nxtenergy.com
Transfer Agent & Shareholders Registrar
Computershare Trust Company of Canada
(formerly Olympia Trust Company)
Suite 600, 530 - 8th Avenue SW
Calgary, Alberta Canada T2P 3S8
Phone: (403) 267-6800
Fax: (403) 267-652
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