BURNABY, BC, Oct. 21 /CNW/ - Photon Control Inc. ("Photon") (TSX-V: PHO)
is pleased to announce successful commissioning of its first commercial set of
downhole fiber optic sensors for heavy oil production in Alberta. The set was
ordered by a leading oil producer for installation in a large oil sand
operation with heavy oil recovery based on steam-assisted gravity drainage
(SAGD). The set of downhole fiber optic sensors was installed in September
2008 and provides data on temperature and pressure from hundreds of meters
below the surface. The data from the Photon processing unit is transferred to
the producer's data collecting system (DCS) via ModBus and is further
processed remotely. The producer is reporting to Photon it is pleased with the
performance of Photon technology. The producer spent a number of years with
other providers of fiber optic sensors, however, technical issues did not
allow commissioning of the counterpart solutions.
SAGD is the most advanced process for heavy oil recovery used in Canada
and its use is rapidly expanding in other countries. A number of SAGD wells
have been already drilled and hundreds of new wells are completed every year
in Canada alone.
The producer provided heavy installation equipment, machinery and
personnel needed for deployment and operation of the sensors in the harsh SAGD
environment. It was the absence of this logistical support which hindered
Photon's attempts in penetrating the oil production business in the past.
Mr. Ivan Melnyk, the Company's Chief Technology Officer, commented: "This
first commercial installation of our fiber optic sensors for a downhole
application is a critical step for entry into the massive downhole
instrumentation market. We have spent considerable time developing superior
technology that overcomes technical challenges such as long distance,
temperature drift and the hydrogen aging effect."
Photon's technology is capable of measuring extremely high pressure, over
20,000 psi, at very high temperatures and depths of many kilometres. This can
be used for controlling parameters and monitoring of processes in oil and gas
production, exploration, drilling and well-testing. Photon brings the
advantage of its technology into the energy sector in the same fashion as it
achieved in the semiconductor capital equipment business which has benefited
from Photon technology for over four years.
Forward-Looking Statements: This news release contains forward looking
statements, including statements regarding the business and anticipated
financial performance of the Company, which involve risks and uncertainties.
These risks and uncertainties may cause the Company's actual results to differ
materially from those contemplated by the forward-looking statements. Factors
that might cause or contribute to such differences include, among others,
product performance, competitive pressures, competing technologies and the
market acceptance of the Company's photonic-based products as a replacement to
existing technologies and products. Readers are encouraged to consider the
other risks and uncertainties discussed in and additional information
contained in the Company's required financial statements and filings filed on
SEDAR at www.sedar.com.
About Photon Control Inc. www.photon-control.com
Photon Control Inc. develops and manufactures optoelectronic products for
measurement and control. All Photon's products have competitive advantages in
both performance and cost. Markets for Photon's products include semiconductor
capital equipment, oil and gas, power industry, life sciences and research.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents herein.
For further information:
For further information: Company Contact: Helena Rebec, (604) 422-8861 x