Suntec Pure Water Technologies Inc. ("Suntec") announces its results for the three and six months ended June 30, 2007


    Symbol: SUT: TSX Venture Exchange

    CALGARY, Aug. 30 /CNW/ - During the second quarter of 2007, energy
producers undertook modest drilling. Suntec generated $36,302 and $77,670 of
revenue and a net loss of $764,396 and $959,678 during the three and six
months ended June 30, 2007.
    Suntec has realized substantially lower revenue than expected as the
energy industry responds to prolonged, lower natural gas prices and higher
drilling costs through a reduction in well drilling and fracturing. This trend
is expected to continue until Suntec's clients increase their drilling and
fracturing activity levels as a result of higher natural gas prices or lower
drilling costs. The Suntec water treatment plant suspended operations in
July 2007 pending an increase in industry activity.

    Financial Summary

                               Three months ended           Six months ended
                                          June 30,                   June 30,

                                 2007        2006          2007         2006
                                ------      ------       -------      -------
                                  ($)         ($)           ($)          ($)

    Revenue                    36,302      38,582        77,670      168,520
    Operating expenses        800,698     285,181     1,037,348      566,414
    Net loss                 (764,396)   (246,599)     (959,678)    (397,894)

    Loss per share, basic       (0.03)      (0.01)        (0.03)       (0.01)
    Loss per share, diluted     (0.03)      (0.01)        (0.04)       (0.01)


    Suntec has suspended commercial operations at its water treatment
facility pending an increase in industry activity. Suntec is currently seeking
strategic alternatives which include licensing its proprietary technology
included in existing and proposed patents.
    Suntec's Financial Statements and Management Discussion and Analysis for
the three and six months ended June 30, 2007 can be found on the Canadian
Securities Administrators' System for Electronic Document Analysis and
Retrieval ("SEDAR") located at

    About Suntec

    Suntec Pure Water Technologies Inc. treats and recycles oilfield waste
water and sells recycled water, methanol water and potassium chloride. Waste
water and sand is transported by truck from well fracturing operations to
Suntec's oilfield waste water treatment facility, located approximately
80 kilometers southeast of Calgary, Alberta. The recycling process removes
residual contaminants from the water. Treated and recycled water, methanol
water and potassium chloride are sold to oil and gas industry operators for
re-use in the oil and gas drilling and development process while the sand is
shipped to a recycler. The waste water, as treated and recycled by Suntec,
would otherwise be disposed of through the existing method of deep well
injection, removing the water from the hydrological cycle.
    Suntec's common shares trade on the TSX Venture Exchange under the symbol

    This release includes forward-looking statements and potential future
circumstances and developments. Forward-looking statements regarding future
performance are subject to risks and uncertainties and actual results may
differ materially.

For further information:

For further information: Mr. Gene Moody, President, Chief Executive
Officer and Chief Financial Officer, Email:, Telephone: (403)
294-1101, Facsimile: (403) 294-1137

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890