Ferus Inc. announces $20 million energy sector investment in British Columbia

CALGARY, July 5 /CNW/ - Ferus Inc. is pleased to announce that it has acquired land in Dawson Creek, British Columbia and is in the process of constructing a liquid nitrogen plant for the region. With a capital investment in excess of $20 million, this state-of-the-art facility will enable Ferus to meet the ever growing demand for liquid nitrogen in the area. The first of its kind to be located in the center of B.C.'s rapidly expanding energy sector, this facility produces liquid nitrogen from the air for the purpose of stimulating the production of clean-burning natural gas from wells located throughout the region.

"The location of a nitrogen facility in north-eastern B.C. fits perfectly with Ferus' business model of locating plants right where our customers need product so that we can meet their needs as quickly and efficiently as possible," said Dick Brown, President & CEO of Ferus. "It is also part of our corporate culture to invest, create jobs and become part of the communities where we do business," added Brown. Ferus has worked closely with local community officials to establish the ideal location for their new base of operations. "As Mayor, I am pleased to welcome Ferus to the City of Dawson Creek. They have already proven to be an efficient, well run and community oriented company and they are going to be a welcomed business as our City continues to serve the growing natural gas sector," said Mike Bernier, Mayor of Dawson Creek.

The liquid nitrogen facility, which is expected to be fully operational by the end of next year is currently under construction and will have the capacity to be expanded in the future as energy activity continues to develop in the region.

ABOUT FERUS

Ferus Inc. is a privately-held Canadian company providing integrated solutions to the energy industry for well stimulation, well completions and enhanced oil recovery applications. Ferus provides a dedicated supply of cryogenic fluids, as well as the related logistical services to deliver those products to its customers in the energy industry. Ferus' primary product and service lines include liquid carbon dioxide (CO2), liquid nitrogen (N2), transportation, storage, logistics and on-site services. Ferus currently owns and operates six cryogenic plants, which are strategically located throughout the Western Canada Sedimentary Basin as well as a fleet of over 175 transportation and storage assets that are specifically designed for oilfield operations.

For further information: Richard Brown, President and CEO, Ferus Inc., Telephone: [phone], Toll Fee: [phone], Facsimile: [phone], E-mail: [email protected]; Joe Ladouceur, V.P. External Affairs & Treasurer, Ferus Inc., Telephone: [phone], Toll Fee: [phone], Facsimile: [phone], E-mail: [email protected], www.ferus.ca