CALGARY, ALBERTA–(Marketwired – Nov. 12, 2015) –
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Millennium Stimulation Services Ltd. (“Millennium” or the “Company”) announced that it has successfully conducted a test of its first and unique Energized Natural Gas (ENG ™) high rate pumper using liquefied natural gas (“LNG”) as the primary working fluid for well fracturing and well stimulation applications. Millennium conducted the test to simulate the operating conditions in the field and the intended application to confirm the operability of the ENG pumping unit, and its control and monitoring systems. The test also confirms the appropriateness of the Company’s operating, hazardous operations and safety procedures to ensure worker and environmental safety conditions are met. Millennium expects to deploy its ENG equipment to fracture stimulate the Company’s first well for a customer using the ENG method and process in November 2015.
Additionally, the Canadian Intellectual Property Office (“CIPO”) issued Millennium a fourth patent in August 2015 relating to the use of ENG to perform well fracturing operations using LNG as the primary working fluid. Specifically, this patent addresses the reduced Greenhouse Gas Emissions (“GHG”) method for recovering natural gas from a hydraulic fracturing operation. This was the fourth patent relating to the ENG fracturing process that have been awarded by the CIPO and completes all outstanding patents which were filed with the CIPO at the time of Millennium’s acquisition of ENFRAC Inc. on August 14, 2014.
In addition, a third patent relating to the method and application of ENG for well fracturing operations was also issued by the United States Patent and Trademark Office (“USPTO”) in November 2015. Specifically, the patent addresses the fracturing system and method for an underground formation using natural gas and an inert purging fluid, an invention which the CIPO had issued a patent to Millennium in February 2015.
The Company continues to pursue these and other patent filings in over 30 jurisdictions in the world under the Patent Cooperation Treaty. Millennium is also developing additional patents for further innovative technologies for various oil and gas applications.
Energizing with Natural Gas Method
ENG ™ is a well completion technology which blends natural gas with conventional frac fluids and frac sands into an oil and gas wellbore to fracture a producing formation. Millennium has developed a streamlined and efficient method of pumping natural gas for energized or foam fracturing applications. Energized fracturing has long been known to create above average oil and gas reserves recovery. Further, the ENG technology provides zero emissions by eliminating the need to vent and flare. Also the process reduces or eliminates water to ultimately provide a WATERLESS and closed fracturing system.
The ENG Process brings these significant advantages into play without the hazards of handling propane and other heavier than air natural gas liquids (“NGL’s”). The Millennium team continues to stress a high level of commitment to its health, safety and environmental responsibilities to all of its stakeholders.
Zero Emissions Energized Frac Technology
- Improved economics from:
- better oil and gas well performance and recovery of oil and gas reserves
- reduced energizer cost
- zero flaring and reduced completion emissions
- Reduction or elimination of water requirement
- Superior energizer for oil & liquids rich gas wells
- Superior energizer with hydrocarbon frac fluid
- Exceptional environmental protection with waterless fracturing and zero flaring
ENG Safety and Process
- Process based upon comprehensive Hazard and Operability Study
- LNG properties make it safe to handle
- LNG added to the frac stream at the wellhead
- LNG is pumped with existing oilfield or purpose built cryogenic pumps
- Pressure testing, system function test and purge with nitrogen
- Proppant slurry pumped with conventional frac equipment
- Mirrors conventional fracturing for volume, proppant, frequency and fluid performance
For further information about Millennium, visit the Company’s website at: http://millenstim.ca/
For further information regarding Millennium’s patented ENG technology, visit: http://millenstim.ca/waterless-hydraulic-fracturing-cyclone-z/
Forward Looking Statements and Advisories
This press release contains certain forward-looking information and forward-looking statements (collectively, “forward-looking statements”) under the meaning of applicable securities laws. The use of the words “would”, “intend”, “anticipate”, “potential”, “will”, “expected”, “can”, “may”, “should” and derivations thereof and similar terms identify forward-looking statements. In particular, but without limiting the foregoing, this news release contains forward-looking statements regarding: the anticipated benefits of the patents being granted to Millennium and its shareholders; the anticipated operational benefits of utilizing the ENG technology.
The forward-looking statements contained in this press release reflect several material factors and expectations and assumptions of Millennium including, without limitation, assumptions relating to the ability of Millennium to execute its current business plan and operational plans in the manner currently planned. Millennium believes the material factors, expectations and assumptions reflected in the forward-looking statements are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct.
The forward-looking statements contained in this press release are subject to risks, uncertainties and other factors that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements, including among others: failure to realize the anticipated benefits of the ENG technology; the successful exploitation and integration of the technology; customer acceptance and demand for the technology; success in obtaining further issued patents; the validity of the patents not being challenged, and the potential development of competing technologies by market competitors.
Accordingly, readers should not place undue reliance on the forward-looking statements contained herein. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this press release are made as of the date of this investor update and Millennium disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
President and Chief Executive Officer
Chief Financial Officer