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Aqua-Pure Announces Contract with Pioneer For 2-Nomad Installation in Permian Basin

V.AQE
Aqua-Pure Announces Contract with Pioneer For 2-Nomad Installation in Permian Basin

Aqua-Pure Ventures Inc. (“Aqua-Pure” or the “Company”) (TSXV: AQE), a premier recycler of oil field and shale gas wastewater, today announced that its wholly owned subsidiary, Fountain Quail Water Management (“Fountain Quail”), has received a contract from Pioneer Natural Resources Company (“Pioneer”) (NYSE: PXD), an independent oil and natural gas company, to install two of Fountain Quail’s Nomad recycling water treatment units at Pioneer’s Upton and Reagan County, Texas operations in the Permian Basin. The Nomad units are expected to be installed and begin operating during the third quarter of 2013.

The engagement is for an initial period of one year with an automatic renewal option, thereafter. The Company will receive a processing fee based on the quantity of water treated, with a minimum volume of 3,000 barrels per day guaranteed by Pioneer. Based on expected operations, Aqua-Pure anticipates initial annual gross revenues of over $5 million from the engagement.

Pioneer Natural Resources is one of the most active drillers in Texas’ Spraberry/Wolfcamp oil field in the Permian Basin, where it recently partnered with Chinese government owned Sinochem Petroleum Group in a $1.7 billion deal. Pioneer is also active in the Eagle Ford Shale play in South Texas and is one of the largest natural gas operators in the Rockies and Mid-Continent regions, with additional ongoing drilling programs in Texas’ liquids-rich Barnett Shale Combo play and in Alaska’s Oooguruk field.

“This is our second engagement of this magnitude in the oil rich Permian Basin. Working with Pioneer, one of the largest North American independent E&P operators is a great opportunity for us to demonstrate the ability of our technology to address water needs for the unconventional oil industry,” commented Richard Broderick, head of business development for Aqua-Pure and chairman of the Company’s joint venture with Select Energy Services. “We look forward to growing our mutually beneficial, working relationship with such a preeminent oil and gas operator.”

 

For more information, please contact: info@aqua-pure.com or:

Karim Teja             Yvonne Zappulla
Chief Financial Officer Grannus Financial Advisors, Inc.
(403) 301 4123 ext 26 (212) 681-4108
 

About Aqua-Pure Ventures Inc.

Aqua-Pure (www.aqua-pure.com) is the premier recycler of industrial wastewater in North America. The Calgary-based oilfield engineering and services firm has developed and commercialized cutting-edge technology that transforms wastewater from a liability to an asset. Aqua-Pure's municipal and oil and gas wastewater services and technology solutions ensure environmental sustainability through the utilization of patented and proprietary technologies. The Corporation's common shares are listed on the TSX Venture Exchange under the trading symbol "AQE."

About Fountain Quail Water Management

Fountain Quail Water Management (www.fountainquail.com) provides low-cost, practical recycling alternatives for both shale gas and shale oil producers. The company is the global leader in recycling shale gas flowback and produced water into fresh water for re-use. Fountain Quail is wholly owned by Aqua-Pure Ventures Inc. and is based in Roanoke, Texas.

Forward-looking Statements:

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company’s future operations. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a continued downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties associated with the demand for oil and gas, (3) federal and local government regulations that affect the oil and gas drilling industries (4) the risk that the Company does not execute its business plan, (5) inability to finance operations and growth (6) inability to retain key management and employees, (7) ; an increase in the number of competitors with larger resources, and (8) other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release and the Company intends to update such forward looking information in the Company's MD&A in the event that actual results differ materially from such forward-looking statements contained herein. Additional information about these and other assumptions, risks and uncertainties are set out in the “Risks and Uncertainties” section in the Company’s MD&A filed with Canadian security regulators.

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 release.


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