NXT Energy Solutions Announces Filing of Q2-2015 Interim Results and Upcoming Conference Call Update
CALGARY, ALBERTA–(Marketwired – Aug. 27, 2015) – NXT Energy Solutions Inc. (“NXT Energy” or the “Company”) (TSX VENTURE:SFD)(OTCQB:NSFDF) advises that its interim financial and operating results for the three month period ended June 30, 2015 (“Q2-2015”) are being filed today in Canada on SEDAR at www.sedar.com, and 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 unaudited interim consolidated financial statements and related management’s discussion and analysis (“MD&A”) for the Q2-2015 period.
George Liszicasz, President and CEO of NXT Energy noted: “The NXT Energy team continues to execute on its growth strategy, and our activity in Q2 focused on the kick-off of our US $13.5 million (net of local sales taxes) survey project with our significant new client YPFB, the National Oil Company of Bolivia. We started data acquisition flight operations in June, and expect to deliver our final data interpretations and recommendations report in October. As we utilize the completed contract method of revenue recognition, our Q2 results reflect a deferral of all revenues and direct costs related to the project, and expect that our 2015 year-end will reflect a record level of revenues and profit. Also, to date, we have received progress payments totaling US $7.7 million on this project.” (See NXT Energy’s press release dated August 19, 2015 for additional detail on the YPFB project.)
NXT Energy also advises that after returning from overseas engagements, management will be available to host a brief conference call on Wednesday, September 2, 2015 at 2:10 pm MST (4:10 pm EST) to provide an update on business development initiatives. Interested parties are invited to participate in this call by using one of the applicable numbers below:
Conference call ID – 24070703
Operator Assisted Toll-Free Dial-in Numbers:
Canada and USA: +1-855-336-7594
International: +1-682- 888-5377
About NXT Energy Solutions
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 Energy 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 Energy 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.
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 Bolivia 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.
CONTACT INFORMATION
NXT Energy Solutions Inc.
Greg Leavens
V-P Finance & CFO
403-206-0805
info@nxtenergy.com
NXT Energy Solutions Inc.
Bill Mitoulas
Investor Relations Manager
416-479-9547
bmitoulas@nxtenergy.com
Kin Communications
Investor Relations
604-684-6730 / 1-866-684-6730
sfd@kincommunications.com