Fiber Technology Helps Manage Risk Due to Ground Movement
TSX Venture Exchange symbol: FOX
TORONTO, Jan. 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 of a pipeline strain
monitoring system to Birchcliff Energy Ltd.
Installation of FOX-TEK's FT strain monitoring system is being performed
by FOX-TEK's Field Service team in Alberta on three of four newly constructed
gas pipelines. The new pipelines are being monitored to detect possible strain
due to post-construction ground movement. Due to concerns regarding the
stability of the soil, Birchcliff has decided to periodically monitor the
strain state on these critical assets using a portable FT 3410 Sensor Monitor.
Dr. Zaghloul commented, "Taking a proactive approach to integrity management
on this project will allow Birchcliff to intelligently manage its operational
risk and reduce costs. By installing this system during the final stages of
construction, when there is ready access to the pipelines, Birchcliff will
reduce its costs and avoid additional digging costs in the future."
Mr. Sam Cauchi, Director of North American Sales said "The winter season
is when much field work is done out West. FOX-TEK is pleased to be able to
respond quickly on this project and meet the client's deadlines. We are happy
to have Birchcliff as a new client."
"The first quarter is really shaping up well for us", said Dr. Essam
Zaghloul, FOX-TEK President and CEO. "We are taking FOX-TEK to a new level of
success in 2008. We are pleased that our FT system is being recognized for its
technical merits and is gaining more and more acceptance in the industry."
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,