ProSep Awarded $1.4 Million by Three Super Majors to Develop New Proprietary Technology



    
    - Joint Industry-Funded Project in Partnership with Total, StatoilHydro
    and ConocoPhillips to develop cutting-edge gas dehydration technology -
    

    MONTREAL, May 28 /CNW/ - ProSep Inc. (TSX: PRP), dedicated to providing
process solutions to the oil and gas industry, announced today it was awarded
under a Joint Industry Project (JIP) agreement with Total, StatoilHydro and
ConocoPhillips, a $1.4 million (CAD) contract for the final stage of
development of the ProDry, a proprietary and innovative gas dehydration
technology.
    "Norway is the epicenter for research, development and commercialization
of pioneering technologies for the global oil and gas industry," said Jacques
L. Drouin, President and CEO of ProSep Inc. "Our joint industry partnership
with super major oil and gas companies is a highly efficient collaboration
model. It allows us to develop our pioneering technologies by addressing all
project financing needs and rapidly validates market interest before our
applications reach commercialization."
    Under the terms of the agreement, ProSep will receive a total of 7.5
million NOK (approximately $1.4 million CAD) for the duration of the project,
expected to be concluded in the second quarter of 2010. The Company will
retain all property rights including technology, patents and licensing fees
relating to future sales. Industry funding marks the third and final stage of
the development of the ProDry now targeting pilot testing at high pressure,
natural gas at Total's Lussagnet site in France.
    The ProDry is a compact, light weight technology that efficiently mixes
glycol into gas for dehydration. The ProDry utilizes ProSep's proprietary
mixing and injection technology developed at the Company's Norwegian
operations and provides a more compact and robust gas dehydration as compared
to conventional technologies such as absorption towers. Compact and
lightweight solutions such as the ProDry are increasingly being developed to
address the needs of the growing offshore and subsea oil and gas production
activities.

    About ProSep Inc.

    ProSep Inc. is dedicated to providing process solutions to the oil and
gas industry. ProSep designs, develops, manufactures and commercializes
technologies to separate oil, water and gas generated by oil and gas
production. For more information, please visit www.prosepinc.com.

    
    Caution concerning forward-looking statements
    ---------------------------------------------
    

    This press release contains forward-looking statements. Such statements
inherently involve numerous risks and uncertainties. Actual future results may
differ from the anticipated results expressed in the forward-looking
statements contained in this press release and ProSep does not undertake to
update this information. Investors are cautioned against placing undue
importance on forward-looking information contained herein and should consult
the final short form prospectus and the documents incorporated by reference
therein, which contain a more exhaustive analysis of risks and uncertainties
connected to ProSep's business.

    %SEDAR: 00009317EF




For further information:

For further information: ProSep Inc. Jacques L. Drouin, President & CEO,
(514) 522-5550 ext. 226, jdrouin@prosepinc.com; Patrice Daignault, CFO &
Corporate Secretary, (514) 522-5550 ext. 235, pdaignault@prosepinc.com

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