Opsens Receives Second Commercial Order for its OPP-W Fiber Optic Pressure Sensors

Date Announced: 26 Jul 2011

Oil sands project to use sensors in 21 wells.

QUEBEC CITY--(BUSINESS WIRE)--Opsens Inc. (“Opsens”) (TSXV: OPS) is pleased to announce that it has received its second largest order to instrument 21 wells with its OPP-W fiber optic sensor systems in a SAGD oil sands project.

Second commercial order from this client - "By continuing to work closely with our customer and by providing value added service, we have strengthened our relationship which naturally generated more business”, said Darren Wiltse, President of Opsens Solutions.

"Things are moving in the right direction. Providing oil and gas customers with a fully integrated offering that includes sensor development, manufacturing and system deployment, was the right decision for us," said Pierre Carrier, President of Opsens. "This 21-well order, the latest orders and the other outstanding bids allow us to anticipate a strong revenue growth for fiscal 2011."

Opsens Solutions' highly experienced engineering and fields services team will manage the installation related to the contract. It plans to start installations immediately, with a 50% completion expected before year ending as of August 2011.

In thermal recovery processes, Opsens’ OPP-W fiber optic sensor system provides oil sands producers with reliable real-time downhole pressure and temperature information about their SAGD wells during operation.

The ability to accurately control bottomhole pressure at high temperatures for artificial lift systems such as electrical submersible pumps allows SAGD operators to improve steam/oil ratios and to reduce operating and lifting costs.

For multiple well operations, this can provide millions of dollars in savings by reducing water treatment costs, optimizing natural gas consumption as it pertains to steam generation and enhancing the run time of artificial lift systems. Opsens Solutions’ also has an ongoing commitment to the development of reservoir surveillance solutions which include both conventional and thermal observation wells, for CO2-EOR, geological storage of CO2, and unconventional gas projects.

Source: Opsens

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