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FSI

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Share Name Share Symbol Market Type
TSXV:FSI TSX Venture Common Stock
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FSI Awarded Brine Plant Contract- Largest Contract in Company's History

07/06/2012 2:27pm

Marketwired Canada


Richard Ball, Chief Executive Officer of FSI Energy Services Inc. (TSX
VENTURE:FSI) ("FSI"), is pleased to announce that FSI has been awarded its
largest ever contract, for the manufacture, delivery and installation of a Brine
Blending Plant. The contract is with a major Russian oil producer (the
"Client"), and is the twelfth such plant purchased from FSI by the Client.


The Client cited the design and high quality of FSI's products in its decision
in awarding the tender. Production is scheduled for the summer/fall of 2012,
with delivery expected in November 2012 and installation and commissioning
expected in April to May 2013. Total value of this contract is approximately USD
$7,980,000.


"We are very excited to deepen the ongoing relationship we have with our
client," said Richard Ball, President. "Our client has repeatedly reinforced to
us the fact that the past Brine Blending Plants they have purchased from FSI
have been in continuous operation for between five and sixteen years, all
without need for repairs or retrofits."


To date, FSI has designed, built, and installed twenty-one Brine Blend Plants,
accounting for over $61.45 million in revenue, and FSI is considered by some in
the Russian oil industry to be the leader in this patented turn-key
fluid-processing technology for Russian oil producers.


About FSI

Through its wholly-owned subsidiary, FSI International Services Ltd., FSI Energy
Services Inc. is a Calgary-based manufacturing and service company specializing
in customized filtration, filtration-related technologies and Brine Plants for
the energy, chemical, and water treatment industries.


Forward-looking Information Cautionary Statement

This press release contains forward-looking statements relating to the expected
dates for production, delivery installation and commissioning of the Brine
Blending Plant. All statements contained herein that are not clearly historical
in nature are forward-looking, and words such as "could", "plans", "should",
"anticipates", "expect", "believe", "will", and similar expressions and
statements relating to matters that are not historical facts are generally
intended to identify such forward-looking statements.


The forward-looking statements in this press release are based on the opinions
and estimates of management and management's prior experience designing,
building and installing twenty-one Brine Blend Plants. Such forward-looking
statements are subject to a variety of risks, uncertainties and other factors
that could cause actual events or results to differ materially from those
anticipated in the forward-looking statements including, but not limited to.


All of the forward-looking information contained in this press release is
qualified by this cautionary statement. There can be no assurance that the
actual results or developments anticipated by FSI, as expressed or implied by
the forward-looking information, will be realized or, even if substantially
realized, that they will have the expected consequences to or effects on FSI or
its business operations. FSI disclaims any intention or obligation to update or
revise any forward-looking information as a result of new information or future
events. Readers should not place undue reliance on forward-looking information.


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