Ferus Inc. opens new CO2 liquefaction facility

CALGARY, June 16 /CNW/ - Ferus Inc. today celebrated the opening of its new $15 million state-of-the-art carbon dioxide ("CO2") liquefaction plant. The celebration took place at Sherritt International Corporations's refinery complex located in Fort Saskatchewan, Alberta where the plant is located and included executives from both companies as well as customers from the energy industry and local dignitaries including representatives from the Alberta government and the mayor of Fort Saskatchewan.

The facility, Ferus' fourth in the province, was strategically located in north-central Alberta to allow Ferus to efficiently deliver liquid CO2 to developing energy resource plays in north-western Alberta and north-eastern British Columbia. The facility captures gaseous CO2; a process by-product of Sherritt's nearby ammonia process, liquefies it and stores it for sale and transport to Ferus' energy industry customers located throughout the Western Canada Sedimentary Basin. Commercial operations of the facility began in late 2009 and the plant has been operating at or near full capacity ever since.

"The Fort Saskatchewan plant is our fourth CO2 plant in the region and demonstrates our ongoing commitment to meeting the needs of our energy industry customers by providing both products and logistics services where and when they need it," said Richard Brown, President & CEO of Ferus Inc. "We take a great deal of pride in our relationship with Sherritt, which combines a mutually beneficial commercial venture with environmental stewardship, a combination that benefits everyone in the region," added Brown.

ABOUT FERUS

Ferus Inc. is a privately-held Alberta based 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 and logistics and on-site services. Ferus currently owns and operates six cryogenic plants, which are strategically located across Alberta 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]