Energy Stock News: Wescorp Energy (OTCBB: WSCE) / Cancen Oil Canada Joint Venture Receives $1,000,000 Commitment for the Construction of 3 Remediation Units
Showcase Stock – Water Remediation for the Oil and Gas Sector Wescorp Energy Inc. (OTCBB: WSCE )
POINT ROBERTS, Wash., DELTA, B.C. September 4, 2009 – Investorideas.com and its oil and gas portal re- release news from showcase oil and gas stock, Wescorp Energy Inc. (OTCBB: WSCE ).
News release: Wescorp Energy / Cancen Oil Canada Joint Venture Receives $1,000,000 Commitment for the Construction of 3 Remediation Units
HOUSTON, TX and CALGARY – Wescorp Energy Inc. (OTCBB: WSCE), an oil and gas technology solutions provider, is pleased to announce that in accordance with the joint venture partnership announced on July 29,2009 with Cancen Oil Canada Corporation, an oilfield waste management and processing company, Cancen has committed $1,000,000 for the immediate construction of 3 Wescorp remediation units.
Wescorp and Cancen engineers have completed their first Cancen facilities assessment to best determine the most effective and efficient size and volume capacity of the units required. Based on site assessment, both management teams have agreed that these first 3 units will consist of two H20Maxx water units and one HCXT solids remediation unit, which will all be deployed to Cancen’s existing waste processing facilities in western Canada.
“Wescorp is pleased that the first milestone in our joint venture partnership with Cancen has been achieved with the delivery of the required financing,” commented Doug Biles, President and CEO of Wescorp Energy.
“The assessment work of our waste management facilities is going very well,” stated Keith Talbot, President of Cancen Oil Canada Corporation. “By integrating Wescorp’s remediation technologies into our existing business, we believe we will become a leader in the oil/water/solids disposal industry in western Canada. We are driven to have the first 3 remediation units in full operation as soon as possible. We will then continue building an additional 9 units over the next year.”
H20Maxx is a commercially proven, safe, effective and economical process for cleaning and separating oil and solids from produced water using patented technology. Test results on the H20Maxx unit have been shown to reduce the oil content in produced water to less than 0.001% or 10 parts per million oil, allowing oil and gas operators to reduce, reuse, and recycle water.
The HCXT solids remediation unit is a commercially proven, safe, effective and economical process for the extraction and cleaning of hydrocarbon-laden sediments and solids. The technology uses biodegradable chemicals to separate heavy oil from solids, including drilling cuttings and fine sands and clays from oil sand production.
Wescorp Energy Inc. (www.wescorpenergy.com) is an oil and gas operations solutions company focused on commercializing technologies that overcome tough operations challenges facing oil and gas operators today. Wescorp combines its intellectual capital, oil and gas industry experience, best practices methodologies and its market offerings to deliver these solutions in a timely, economic and environmentally friendly manner.
Wescorp shares currently trade on the NASD.OTC Bulletin Board under the symbol “WSCE”.
Safe Harbor Statement
Any statements contained herein that are not historical facts are forward-looking statements, and involve risks and uncertainties. Potential factors could cause actual results to differ materially from those expressed or implied by such statements. Information on the potential factors that could affect the Company’s actual results of operations is included in its filings with the Securities and Exchange Commission. These risks may be further discussed in periodic reports and registration statements to be filed by the Company from time to time with the Securities and Exchange Commission in the future.
For more information contact: Wescorp Energy Inc.
Investor Relations: Mark Komonoski, Toll-Free 1-877-255-8483, Office Line (403) 255-8483, Mobile (403) 470-8384, email@example.com
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Barry Mire: email@example.com, (514) 939-3989, (416) 644-2020
Source: OilandGasStockNews.com; Wescorp
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Source: OilandGasStockNews.com, Wescorp