NXT Signs Letter of Intent for SFD® Surveys in Six Blocks and in Two Countries
Published : June 30, 2011
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Keywords :   Canada | Colombia | Guatemala | K Street |

CALGARY, June 30, 2011 /CNW/ - NXT Energy Solutions Inc ("NXT") (TSX-V:SFD; NASDAQ-OTCBB:NSFDF), today announced the signing of a Letter of Intent ("LOI") with an existing client to execute six SFD® contracts, which includes five surveys in Colombia and one survey in Guatemala. NXT has commenced project planning and is scheduled to mobilize and complete flight operations in the third quarter of 2011.

"This LOI with an existing client further validates our SFD® technology as an integral tool for the exploration of hydrocarbons. This client's expanded use of SFD® into multiple countries and geological regions speaks directly to the growing confidence in our technology," said George Liszicasz, NXT President and CEO. "We look to leverage this success as we continue to expand our presence in Latin America."

The LOI and work program have an estimated value in excess of USD $4 million, which is subject to certain conditions and the execution of definitive agreements.  The definitive agreements shall follow the form and terms of a previous agreement executed by the parties.  The LOI does not impose a binding obligation on either party but does document the intentions of the parties to proceed expeditiously to the execution of the definitive agreements.

NXT is a Calgary based company providing airborne detection solutions to support hydrocarbon exploration enabling our clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization onto the areas with the greatest potential. NXT's proprietary airborne Stress Field Detection ("SFD®") survey system provides a unique survey method that remotely identifies potential traps and reservoirs. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain and is effective both onshore and offshore. NXT provides its clients an efficient and reliable method to conduct frontier surveys to support exploration. SFD® is the registered trademark of NXT Energy Solutions Inc.

Forward-Looking Statement

This news release includes a forward-looking statement.  When used in this document, words such as "see", "anticipate" 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 a forward-looking statement 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 statement.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor NASDAQ OTCBB Exchanges accept responsibility for the adequacy or accuracy of this release.

 

For further information:

contact:

George Liszicasz CEO and President Jeremy Dietz
NXT Energy Solutions Inc. The Equicom Group
505 - 3rd Street, S.W., Suite 1400 300 - 5th Avenue SW, 10th Floor 
Calgary, Alberta, Canada T2P 3E6 Calgary, AB, Canada T2P 3C4
Tel: (403) 264-7020 Tel: (403)218-2833
Fax: (403) 264-6442 jdietz@equicomgroup.com
nxt_info@nxtenergy.com  
www.nxtenergy.com  

 

Data and Statistics for these countries : Canada | Colombia | Guatemala | All
Gold and Silver Prices for these countries : Canada | Colombia | Guatemala | All

NXT Energy Solutions Inc.

CODE : SFD.V
ISIN : CA62948Q1072
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NXT Energy is a exploration company based in Canada.

NXT Energy is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 80.0 millions as of today (US$ 61.0 millions, € 54.2 millions).

Its stock quote reached its highest recent level on January 04, 2008 at CA$ 4.90, and its lowest recent point on April 21, 2011 at CA$ 0.29.

NXT Energy has 53 310 000 shares outstanding.

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Financings of NXT Energy Solutions Inc.
6/17/2009 Completes Small Private Placement
Option Grants of NXT Energy Solutions Inc.
2/28/2011Grants150,000 Options to Insider and reprices 1,615,000
Nominations of NXT Energy Solutions Inc.
8/26/2013Announces Filing of Q2-2013 Results and the Appointment of M...
1/29/2013Mr. Krishna Vathyam Joins the NXT Board of Directors
4/27/2011Announces New Appointment to Geosciences Advisory Board
1/16/2009 Appoints Chief Operating Officer
Financials of NXT Energy Solutions Inc.
4/24/2013Announces Strong 2012 Year-End Results
Corporate news of NXT Energy Solutions Inc.
12/16/2015NXT Energy Solutions Advises of Grant of Stock Options
11/3/2015NXT Energy Provides Update on Bolivia Survey Project and Oth...
9/1/2015NXT Energy Solutions Finalizes Rights to SFD Technology via ...
8/27/2015NXT Energy Solutions Announces Filing of Q2-2015 Interim Res...
8/25/2015Edited Transcript of SFD earnings conference call or present...
8/5/2015NXT Energy Solutions Engages Venture North for Investor Rela...
7/9/2015NXT Energy Solutions Announces US $1 Million Expansion of SF...
4/16/2015IIROC Trading Resumption - SFD
4/16/2015NXT Receives Award of a New SFD® Contract of US $13 Million
4/15/2015IIROC Trading Halt - SFD
2/19/2015Mackie Research Increases Target for NXT Energy Solutions
1/13/2015Honorable George Allen Joins NXT Energy Solutions Advisory B...
1/8/20154 charged under Utah's controversial 'ag-gag' law
1/5/2015NXT Awarded New Survey Project in Pakistan
12/4/2014Plunging Oil Means Exploration Budget Cuts
12/3/2014NXT Energy Solutions Inc.: Reminder-Conference Call December...
11/25/2014NXT Reports Filing of Q3 Results and Related Conference Call
9/5/20143 Technologies Beating the ‘Peak Oil’ Hysterics
8/27/2014NXT Energy Solutions Reports Filing of Q2 Results and Relate...
7/17/2014NXT Energy Solutions Announces Revised Date for Conference C...
7/10/2014NXT Energy Solutions Announces Re-Election of Directors and ...
5/23/2014Disruptive Oil Services Company, NXT Energy Bolsters Outlook...
5/22/2014NXT Energy Solutions Reports Earnings of $2.6 Million in Q1 ...
4/29/2014NXT Energy Solutions Announces Filing of 2013 Year-End Resul...
4/14/2014Chinese pork giant plans IPO to raise up to $5.3B
9/26/2013Provides Update on Recent Business Development Initiatives
7/25/2013Announces Completion and Presentation of Joint Paper Co-Auth...
7/8/2013Announces Granting of Incentive Stock Options
7/2/2013Announces the Completion of PEMEX Integration Study and Auth...
5/28/2013Announces SEDAR Filing of Q1-2013 Results and Conversion of ...
4/2/2013Management Team Enhanced With The Hiring of Mr. Atul Nautiya...
3/14/2013Nearing Completion of South Asia Survey Project
2/15/2013to Present at the EnerCom Oil & Services Conference 11
2/8/2013Secures US $4.73 Million SFD(R) Survey Contract With Petrole...
1/22/2013Presents at MicroCapClub Invitational
1/10/2013Announces Record Revenue Year in 2012, and Provides Update o...
11/5/2012Announces Update On Status of US $5.8 Million Survey Contrac...
10/4/2012Announces US $1.04 Million Expansion of Survey Contract for ...
9/20/2012Finalizes US $4.73 Million PEMEX Contract, Initiates New Sur...
9/12/2012Secures US $4.73 Million SFD(R) Survey Contract With Petrole...
7/11/2011Announces Management Change and Appointment of Leading I...
6/30/2011Signs Letter of Intent for SFD® Surveys in Six Blocks and in...
4/4/2011Announces a $150,000 Pilot Survey Contract, April Oil & Gas ...
2/17/2011Announces Closing of Financing
2/11/2011Announces Financing
12/22/2009Grants Common Share Options in 2009
10/26/2009Announces the Execution of SFDTM Survey Contract With a New ...
9/21/2009 Operational Update
7/23/2009Attending At Exploration Symposium In Colombia
7/15/2009 Completes US $2.3 Million Survey for Pacific Rubiales
5/13/2009Execution of SFD Survey Contract and Commencemnt of Colombia...
9/22/2008Changes Its Name to NXT Energy Solutions Inc.
7/16/2008Annual General Meeting and Contract Update
5/1/2008 Provides an Update on SFD Survey Contracts
4/16/2008Announces Update on Drilling Activity on SFD Prospect
4/10/2008Reports 2007 Financial and Operational Results
3/10/2008Corporate Update
2/15/2008Announces Commencement of Cdn. $1.5 Million SFD Survey and C...
12/10/2007 Announces New Board Members
12/3/2007Lists on the TSX Venture Exchange
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