QUEBEC CITY, Jan. 9 /CNW Telbec/ - Opsens Inc. (TSX VENTURE EXCHANGE:
OPS) ("Opsens") announced today two new orders for an estimated value over
$300,000 by its wholly owned subsidiary Opsens Solutions Inc. ("Opsens
Solutions") acquired on December 11, 2007.
The first order, the design and installation of three (3) conventional
sensor observation wells, was granted by an existing Opsens client, a major
oil sands operator. The second order was provided by another Canadian oil and
gas producer to Opsens Solutions to design and fabricate a specialized
elevated temperature/pressure cell for calibrating reservoir surveillance
sensors. Opsens Solutions will also provide the calibration services prior to
field deployment of the sensors.
Dr Rick Chalaturnyk, Executive Vice President at Opsens Solutions stated,
"These orders confirm the confidence of our clients in Opsens' expertise in
the design and installation of optical and conventional sensor monitoring
solutions for the oil and gas market. In addition to growing revenues
generated by these activities, our high temperature/pressure expertise will
provide the technical foundation for the installation, of Opsens'
state-of-the-art OPP-W optical sensor, expected in the short-term, used for
continuous monitoring of downhole pressure and temperature (up to 300 degrees
C) and applied in the Steam Assisted Gravity Drainage (SAGD) production
Opsens Solutions is initially targeting the oil sands market in Alberta,
where SAGD is becoming the key production process, and where there is a
potential for the installation of Opsens sensors in multiple oil wells. Opsens
has already received an order from a major oil sands operator in Alberta for
the supply and installation of Optical Sensing Systems. Canada has 179 billion
barrels of oil reserves with 95% being oil sands, second only to Saudi Arabia.
Canada is expected to increase its oil production by up to 500% by 2015.
Opsens monitoring systems will provide continuous acquisition of downhole
pressure and temperature allowing SAGD operators to control steam injection
and fluid production; critical information for optimizing bitumen recovery
rates, reducing operating costs, managing steam chamber growth and managing
safe steam injection pressures.
About Opsens (www.opsens.com)
Opsens is a leading developer, manufacturer and supplier of a wide range
of fiber optic sensors and associated signal conditioners based on proprietary
patent and patent-pending technologies. Opsens sensors provide long-term
accuracy and reliability in the harshest environments. Opsens provides sensors
to measure pressure, temperature, strain and displacement to original
equipment manufacturers (OEM) and end-users in the oil and gas, medical,
energy, scientific and military laboratory fields. Opsens offers technical
services, such as on site installation, training and turnkey fiber optic
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this press release.
Forward-looking statements contained in this press release involve known
and unknown risks, uncertainties and other factors that may cause actual
results, performance and achievements of Opsens to be materially different
from any future results, performance or achievements expressed or implied by
the said forward-looking statements.
For further information:
For further information: Pierre Carrier, President and Chief Executive
Officer, (418) 682-9996; Louis Laflamme, CA, Chief Financial Officer, (418)