OPSENS ANNOUNCES PARTNERSHIP WITH PRECISE DOWNHOLE SERVICES IN THE ENERGY SECTOR
Quebec City, Quebec, September 22, 2016 – Opsens Inc. (“Opsens” or the “Company”) (TSXV:OPS) (OTCQX:OPSSF) is pleased to announce an exclusive distribution agreement between Opsens Solutions Inc. (“Opsens Solutions”), a wholly-owned subsidiary of Opsens Inc. and Precise Downhole Services Ltd. (“Precise DHS”) for the commercialisation of its product line dedicated to the Canadian oil and gas market.
Precise DHS, is a Canadian company engaged in the business of reservoir monitoring for the heavy oil industry with turnkey packages from manufacturing, installation to final commissioning. The company is recognized for its expertise and capabilities of providing solutions for the measurement of downhole pressure and temperature. As part of the agreement, Opsens Solutions appoints Precise DHS as an exclusive distributor for the OPP-W sensor product line in the Canadian territory.
“The signing of this agreement is in line with Opsens Solutions’ strategy to focus on the marketing of optical products with highly added value. We are pleased to expand on our cooperation with Precise DHS to offer our customers the best products and services at the best cost,” said Gaétan Duplain, President of Opsens Solutions.
“This agreement allows Precise DHS to enhance its product line and opens the door to synergies that will benefit our customers,” said Nathan Frederick, President of DHS Precise.
In thermal recovery processes, Opsens’ OPP-W fiber optic sensor provides oil sands producers with real-time downhole pressure and temperature information about their SAGD wells during operation. The ability to accurately control bottomhole pressure at high temperatures for artificial lift systems such as electrical submersible pumps allows SAGD operators to improve steam/oil ratios and reduce operating costs. For multiple well operations, the technology provides millions of dollars in savings by reducing water treatment costs, resulting in optimization of natural gas consumption as it pertains to steam generation and enhancing the run time of artificial lift systems.
Opsens focuses mainly on the measure of FFR in interventional cardiology. Opsens offers an advanced optical-based pressure guidewire (OptoWire) that aims at improving the clinical outcome of patients with coronary artery disease. Opsens is also involved in industrial activities. The Company develops, manufactures and installs innovative fibre optic sensing solutions for critical applications such as the monitoring of oil wells and other demanding industrial applications.
Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Opsens to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.
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.
For further information, please contact:
Thierry Dumas, CPA, CA, Chief Financial Officer, 418.781.0333
Louis Laflamme, CPA, CA, Chief Executive Officer, 418.781.0333