TSX Venture Exchange symbol: FOX
Large Alberta Oil Sands Pipeline Monitored Remotely with Advanced Fiber
TORONTO, June 24 /CNW Telbec/ - Fiber Optic Systems Technology, Inc.
("FOX- TEK"), (TSX-V: FOX), a developer and manufacturer of patented
non-intrusive sensing systems, today announced the sale and installation of a
pipeline strain remote monitoring system to Pembina Pipeline Corporation.
Two FT3415 remote monitoring systems, with solar power and satellite
communications, will measure bending strain near a major river crossing. Data
gathered on a daily basis will help assure Pembina of the pipeline's
structural integrity in an area prone to ground movement. The remote data
acquisition system is essential, as the locations being monitored are not
readily accessible by ground.
A Pembina company spokesperson said "The Syncrude Pipeline carries
synthetic crude oil from the Ft. McMurray oil sands south to refineries and
export pipeline terminals near Edmonton. We'll be using the FT System year
round to continuously report any abnormal strains to the pipeline that result
from the early stages of soil movement. We recognize the importance of taking
extra steps to protect the environment, and also assure the flow of oil. These
FT systems are one example of how Pembina insures that our extensive network
of pipelines, oil sands infrastructure, and midstream business delivers an
integral service to the Western Canadian energy industry."
Dr. Essam Zaghloul, FOX-TEK president and CEO, added "With this sale to
Pembina, we welcome another new client that recognizes how monitoring with our
fiber optic sensor systems adds value to their operations. With our data
centre providing regular analysis reports to Pembina, we look forward to
strongly supporting Pembina's integrity management program."
Fiber Optic Systems Technology, Inc. "FOX-TEK" sells non-intrusive asset
health monitoring sensor systems for the oil and gas and other industries.
These systems allow operators to monitor asset integrity, thereby improving
safety, environmental performance, reliability, and efficiency.
FOX-TEK has offices in Toronto, ON, Calgary, AB, Houston, TX, and
Al-Khobar, Saudi Arabia. FOX-TEK is traded on the TSX Venture Exchange under
the symbol "FOX". For more information, visit www.fox-tek.com.
This press release contains forward-looking statements based on
assumptions, uncertainties and management's best estimates of future events.
Actual results may differ materially from those currently anticipated.
Investors are cautioned that such forward-looking statements involve risks and
uncertainties. Important factors that could cause actual results to differ
materially from those expressed or implied by such forward-looking statements
are detailed from time to time in FOX-TEK's periodic reports filed with the
Ontario Securities Commission and other regulatory authorities. FOX-TEK has no
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: FOX-TEK Company contact: Sean Carr, CFO, Fiber
Optic Systems Technology, Inc., (416) 665-2288, email@example.com; Investor
Relations contact: Renmark Financial Communications Inc.: Barry Mire,
firstname.lastname@example.org; Christine Stewart, cstewart@ renmarkfinancial.com,
(514) 939-3989, Fax: (514) 939-3717; www.renmarkfinancial.com