NXT Signs Letter of Intent for SFD® Surveys in Six Blocks and in Two Countries

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.

 

SOURCE NXT Energy Solutions Inc.

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  

 

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NXT Energy Solutions Inc.

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