Wescorp Energy Inc. (OTC.BB: WSCE), an oil and gas technology solutions provider and Cancen Oil Canada Corporation, an Oilfield Waste Management and Processing aggregation based in western Canada, accept entered into a 50:50 collective adventure agreement. Under the agreement of the collective adventure agreement, a aggregate of a minimum of 12 H2O Maxx baptize units and HCXT Solids units will be strategically installed over the next 12 months at Cancen's accessories to decidedly access ability and abate operating costs. As Cancen expands its operation, it is accepted to be installing added units. In addition, it is advancing that the collective adventure will body added carriageable units to accommodate limited on-site remediation for a amount of Cancen's clients.
Wescorp and Cancen are commutual an appraisal of Cancen's facilities, and by August 23 Cancen will column a $1,000,000 certain band of acclaim for the actual architecture of three units to be deployed at Cancen's facilities.
Under the agreement of the agreement, Wescorp will be amenable for accouterment the bookish acreage and abstruse support. Cancen will be amenable for operating and managing the collective adventure and allotment the operations, including the architecture and deployment costs of all H2O Maxx and HCXT remediation units.
The collective adventure will allotment in the acquirement generated by the use of Wescorp's H2O Maxx and HCXT units at Cancen's facilities. Revenue from anniversary assemblage will be aggregate amid Wescorp and Cancen. Upon antecedent operation of the remediation units, the acquirement will be breach 25:75 (Wescorp: Cancen) until 110% of the architecture costs are repaid to Cancen. Thereafter, the acquirement will be aggregate on a 50:50 basis.
Cancen operates a amount of decay processing accessories in western Canada. Its mission is to accommodate safe and able auctioning of hydrocarbon decay actual through specialized processes in an accomplishment to anticipate oil from entering adjoining ecosystems. Cancen creates amount through on-site auctioning of produced water, hydrocarbon recovery, accepted cleanup and auctioning of dash oil, catchbasin acclaim and awkward treatment. Through a three-staged process, Cancen custom treats, again blends, the awkward into top above bartering oil.
"This is a actual cogent signing for Wescorp. The affiliation with Cancen will acquiesce Wescorp to anon participate in a multi-billion dollar oilfield decay administration and processing industry in western Canada," commented Doug Biles, President and CEO of Wescorp Energy. "Wescorp anticipates the collective adventure acquirement archetypal will aftereffect in a decidedly college acquirement beck than that of a circadian charter model."
"Cancen is captivated to be the collective adventure accomplice of Wescorp Energy," declared Keith Talbot, President of Cancen Oil Canada Corporation. "Wescorp's arch bend baptize and debris remediation technologies are a absolute fit into our business archetypal and will acquiesce Cancen to become a abstruse baton in the oilfield decay processing industry in western Canada. With the accession of Wescorp's technologies, we apprehend our business to abound exponentially."
H2Omaxx is a commercially proven, safe, able and economical action for charwoman and amid oil and debris from produced baptize application patented technology. Test after-effects on the H2Omaxx assemblage accept been apparent to abate the oil agreeable in produced baptize to beneath than 0.001% or 10 locations per actor oil acceptance oil and gas operators to reduce, reuse, and recycle water.
The HCXT debris remediation assemblage is a commercially proven, safe, able and economical action for the abstraction and charwoman of hydrocarbon-laden sediments and solids. The technology uses biodegradable chemicals to abstracted abundant oil from debris including conduct cuttings and accomplished bank and clays from oil beach production.
About Wescorp
Wescorp Energy Inc. (www.wescorpenergy.com) is an oil and gas operations solutions aggregation focused on commercializing technologies that affected boxy operations challenges adverse oil and gas operators today. Wescorp combines its bookish capital, oil and gas industry experience, best practices methodologies and its bazaar offerings to bear these solutions in a timely, bread-and-butter and environmentally affable manner.
Wescorp shares currently barter on the NASD.OTC Bulletin Board beneath the attribute "WSCE".
Safe Harbor Statement
Any statements absolute herein that are not actual facts are advanced statements, and absorb risks and uncertainties. Potential factors could could cause absolute after-effects to alter materially from those bidding or adumbrated by such statements. Information on the abeyant factors that could affect the Company's absolute after-effects of operations is included in its filings with the Securities and Exchange Commission. These risks may be added discussed in alternate letters and allotment statements to be filed by the Company from time to time with the Securities and Exchange Commission in the future.
Contact:
Wescorp Energy Inc.
Mark Komonoski
(403) 255-8483 or Toll Free: 1-877-255-8483
Mobile: (403) 470-8384
Email: mailto:mk.tem@shaw.ca
Website: http://www.wescorpenergy.com
Renmark Financial Communications Inc.
Jason Roy, jroy@renmarkfinancial.com
Barry Mire, bmire@renmarkfinancial.com
(514) 939-3989, (416) 644-2020
www.renmarkfinancial.com
Source: Wescorp Energy Inc.
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