Early warning given in case of ground movement
TSX Venture Exchange symbol: FOX
TORONTO, Nov. 20 /CNW Telbec/ - Fiber Optic Systems Technology, Inc.
("FOX-TEK"), (TSX-V: FOX), a developer and manufacturer of patented
non-intrusive sensing systems, today announced a sale of its FT Pipeline
Bending Monitoring System to Talisman Energy Inc., of Calgary, Alberta.
Dr. Essam Zaghloul, president and CEO of FOX-TEK said, "We look forward
to becoming part of Talisman Energy's pipeline integrity program. Several sour
gas pipelines that run between two gas processing facilities in Alberta will
be monitored to verify structural integrity. With the FT System, Talisman will
have the data required to verify the integrity of the pipelines in this
potentially unstable soil area. FOX-TEK will be supplying analysis service and
prompt reporting for this installation. If any pipeline movement does occur,
the FT System will provide documentation of this long before any damage
Fiber Optic Systems Technology, Inc. "FOX-TEK" develops non-intrusive
asset health monitoring sensor systems for the oil and gas market to help
operators track the thinning of pipelines and refinery vessels due to
corrosion/erosion, strain due to bending/buckling, and process pressure and
temperature. FOX-TEK's FT fiber optic sensor and Pinpoint systems allow
cost-effective, 24/7 remote monitoring capabilities to improve scheduled
maintenance operations, avoid unnecessary shutdowns, and prevent accidents and
FOX-TEK has offices in Toronto, ON; Calgary, AB; Montreal, QC;
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: Dr. Essam Zaghloul,
president and CEO, 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, email@example.com; (514) 939-3989, Fax: (514) 939-3717,