CALGARY, Feb. 21, 2012 /CNW/ - Ridgeline Energy Services Inc. [TSX-V: RLE] [OTCQX: RGDEF] ("Ridgeline," "the Company"), an energy services technology and consulting company, is pleased to report the results of its Annual and Special Meeting, which was held on February 10, 2012 in Calgary, Alberta. All resolutions were passed, including the approval of both Share Award and Employee Purchase Plans.
Ridgeline also provided an update on the growth of its water treatment facilities. The initial application for Ridgeline's technology remains within the oil and gas industry, where it facilitates the recycling and reuse of both produced and flowback water. The Company continues to expand its manufacturing capacity in anticipation of near-term demand for commercial installations.
In addition to these oil and gas applications, Ridgeline also anticipates the furthering of opportunities for its technology in the treatment of both commercial and industrial wastewater. The Company currently has a development agreement in place with Lakeland Processing, a water treatment facility in Santa Fe Springs, California.
The flexibility and low operating cost of Ridgeline's technology formed the core focus of a recent site visit by analysts and investors. Guests were provided with a first-hand look at the Company's technology in active operation, visiting both a Mobile Development Laboratory at Lakeland Processing and a Single Train Commercial Installation outside of Jal, New Mexico.
"Our electro-catalytic technology, developed by its inventor Mr. Dennis M. Danzik, continues to establish itself as an effective alternative to existing, more expensive methods of water treatment," stated Tony Ker, Ridgeline's Chief Executive Officer. "As Ridgeline's field study backlog continues to grow, and our manufacturing capacity increases, our opportunities for both development agreements and commercial installations are following suit."
About Ridgeline Energy Services Inc.
Ridgeline Energy Services Inc. is an energy services technology and consulting company focused on waste management in the oil and gas industry. Through its subsidiary Ridgeline Water Inc., the Company is applying proprietary technology to treat the large volumes of contaminated water generated by oil and gas production. The Company is working with energy majors in the application of its technology for the recycle and reuse of; produced and hydraulic fracturing water; enhanced recovery chemical flood water; and oil sands process water. As well the Company is utilising its technology in the testing and treatment of commercial and industrial waste water. Through its environmental consulting and remediation subsidiaries, Ridgeline Environment Inc. and Ridgeline GreenFill Inc., the Company has built a reputation as an established provider of environmental services to North America's oil and gas industry. The Company trades on the TSX Venture Exchange under the symbol "RLE" and the OTCQX as "RGDEF" Additional information is available on the Company's website at: www.ridgelinecanada.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Such information is subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, as no assurances can be given as to future results, levels of activity or achievements."
For further information:
Ryan Johnson of Ridgeline Energy Services Inc.
(604) 566-8066 ext. 3 (Vancouver)
David Waldman at Crescendo Communications
(212) 671-1021 (New York)