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American Company Spotlight

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Wescorp Energy Inc. Website:
Click Here |
Information As Of July 24,
2008 |
| Exchange:
OTCBB |
Market
Cap:
28.9 Million |
| Outstanding Shares:
75 Million |
52 Low / High:
$0.32 / $0.51 |
|
Price July 24, 2008:
$0.385 |
WSCE Recent Stock Quote and News:
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'Oil & Gas is one of
the fastest growing sectors worldwide. As the developing
economies such as China and India experience rapid growth, the
demand for oil and gas skyrockets in tandem.'
Overview
Wescorp Energy Inc. 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's main focus technology is their Water
Remediation and Purification Technology, wholly-owned
through a subsidiary, Total Fluid Solutions Inc.. The Water
Remediation And Purification Technology based offerings by Wescorp can remove hydrocarbon
contamination content from
water and soil and can prove an effective tool in meeting
environmental, regulatory and safety issues facing the World’s
Energy Industry today and in the future. Conventional
technology removes hydrocarbon contamination content down to 0.5% to 3% (5,000 to
30,000) parts per million - Wescorp removes hydrocarbon
contamination content down
to 0.005% (50 parts per million).

Investment Highlights
- In March 2008, Ubika Research rated Wescorp Energy Inc.
a "Speculative Buy" with a $0.90 12-month target price.
- The newly constructed Total Fluids Solution water
remediation unit, is capable of remediating 2,000 barrels
per day, and has been in full field operations in Alberta,
Canada since February 2008. Results to date have been
excellent. The Total Fluids Solution also reduces oil remains in produced water and spent
drilling fluids to fewer than 0.005%, or 50 parts per
million (PPM), a fraction of what traditional water
remediation technologies accomplish. Using standard industry
water remediation and cleaning practices, approximately 0.5
to 3% (5,000 to 30,000 PPM) oil remains in the separated
water.
- There are over 800 producing oil companies in Western
Canada alone, ranging from a one well producer to producers
with thousands of wells. There are in excess of 17,000
batteries that are storage facilities for contaminated
formation water that requires remediation prior to
re-injection into the oil reservoir just in the province of
Alberta. These batteries range in storage capacity from 200
to 50,000 barrels of toxic water. Wescorp's technology can
have a significant economic and environmental impact on
virtually all oil producing fields.
- Wescorp Energy Inc. announced in early March 2008, that
they signed an agreement with a leading developer of
Canadian oil sands to deploy Wescorp's NAVIGATOR Process
Management Services to enhance scheduling and logistical
issues for its properties in Western Canada. Wescorp's
NAVIGATOR services will help streamline operations for a
project that is currently valued in excess of $1 billion by
independent assessments.
- Pressure from regulatory and environmental compliance
organizations has accelerated the adoption and acceptance of
new technology within the oil and gas industry.
- Wescorp's existing customers include leading oil and
gas companies.
- Wescorp Energy is backed by a strong and experienced
management team and board of directors. Mark Norris,
former Minister of Economic Development for the Alberta
Provincial Government was recently announced as the
Chairman.
- The VISCOSITOR, jointly developed in Norway by Wescorp
and its partner Ellycrack AS, is a prototype designed to
upgrade heavy oil to light oil on site, thus enhancing the
value of the oil and reducing transportation, processing and
refining costs. Using the Ellycrack process, heavy can oil
can be upgraded to medium crude oil and can fetch US$ 40 to
US$ 50 more per barrel in price. The company has secured a
patent in the USA for the process (USA patent #6660158). The
process is also low temperature and low pressure, and
therefore low cost.
Profile
Picture Below: (Wescorp Energy’s
(Total Fluid Solutions)
2,000 Barrel per day Water Remediation
Unit at work in Alberta, Canada)

Oil & Gas is one of the fastest growing sectors
worldwide. As the developing economies such as China and
India experience rapid growth, the demand for oil and gas
skyrockets in tandem. Heavy demand for oil and gas in recent
years has coincided with dwindling supply sources. Years of
miserly investments into the oil and gas sector during the
eighties and early nineties, when oil and gas prices were
very low, has today come back to haunt the sector in poor
infrastructure, a paucity of new technologies and few if any
incentives for professionals. Now with demand soaring
for oil and gas and easier sources of supplies drying up,
production has become increasingly complex. Oil and gas
companies today are operating under a very different set of
conditions. A rush of new investment has resulted in the
mushrooming of new projects that are putting tremendous
pressure on resources. Increasingly, companies are also
facing regulatory and environmental issues, as rapid growth
in the oil and gas industry attracts environmental concerns.
All these factors combined are causing major operational
challenges for oil and gas companies.
Operating in this context, Wescorp Energy is an oil and gas
operations solutions company focused on finding innovative
technologies and solutions that can solve practical
operational problems faced by oil and gas companies. The
company achieves this by putting together innovative and
effective solutions for solving tough field challenges and
by cutting operations costs for oil and gas companies
globally.
The company finds and acquires new patented and proprietary
technologies and focuses on commercializing those
technologies that cater to solving operational challenges
facing oil and gas operators worldwide. The company’s
total fluid solutions focused on water and soil remediation
remains their main focus, however other technologies in
Wescorp’s portfolio are gas metering, measurement and
management solutions as well as heavy oil upgrading
technology solutions.
Enhanced recovery methods, which include water flood in
conventional oil reservoirs, steam assisted gravity
drainage, and cyclic steam stimulation in oil sands, all
require that massive amounts of fresh water be injected into
reservoirs. The result is that injected water produced with
the oil is contaminated and must undergo remediation.
The goal of most producers is to remove waste water from the
site and process it to make it potable and usable for
agriculture irrigation. Existing water remediation and
cleansing technologies include initial treaters — holding
tanks that let gravity do the work of separating out
contaminants, followed by electrostatic systems and the use
of chemicals or heat — all of which use a lot of energy.
These methods also leave approximately 0.5% to 3% of
residual oil in the separated water. That water must be
disposed of, an objective that is frequently accomplished by
injecting the water back into the reservoir or leaving it on
the surface in toxic tailing ponds.
Wescorp Energy provides a solution that will reduce the
amount of oil in the residual water waste to 0.005%. This
safe and effective process for remediating oil and gas field
contaminants at the well site is suitable for conventional
oil production, enhanced oil recovery, steam-assisted
gravity drainage, and cyclic steam stimulation.
Technology Solutions
Wescorp’s current solution portfolio comprises the
following technology solutions:
Total Fluid Solutions
With the growing worldwide focus on global warming,
greenhouse emissions and the controversial Kyoto Protocol, a
new focus for the company is the fast growing area of
environmental remediation. The company has recently acquired
solutions that provide total treatment option to treat water
and soil used by oil and gas companies. Total Fluid
Solutions, a wholly-owned subsidiary of Wescorp Energy can remove hydrocarbon
content from
water and soil and can prove an effective tool in meeting
environmental, regulatory and safety issues facing Canada’s
Energy Industry today and in the future. Conventional
technology removes hydrocarbon content down to 0.5% to 3% (5,000 to
30,000 parts per million - Wescorp removes hydrocarbon down
to 0.005% (50 parts per million). In the future, Wescorp is looking to add salt removal to the Total Fluid
Separation solution.
Depending on the oil-water ratio, the technology also has
the added benefit of recovering more oil and
reducing lifting costs. It is estimated that by operating
TFS technology on a 2,000 barrels of water / day stream an
additional 5 to 30 bbls of oil will be recovered.
Total Fluid’s technology (TFS) innovation has the
potential for significant economic and environmental impact
on virtually all oil producing fields.
To introduce this new technology to the market, TFS is
working with more than 25 Alberta-based suppliers and has
partnered with two post secondary schools, the Schulich
School of Engineering at the
University of Calgary and the Digital School in Edmonton.
Further, independent verification of the
demonstration results will be conducted by the Alberta
Research Council and other independent laboratories. In
Western Canada there are hundreds of oil producers, ranging
from companies with a single well to those with thousands of
wells. In Alberta, there are thousands of storage facilities
for contaminated water requiring remediation prior to
reinjection – these facilities, at any given time, are
holding hundreds of thousands of barrels of hydrocarbon
contaminated water.
Following a worldwide shortage of sweet crude, heavy oil
production has taken off in recent years. In Alberta, Oil
Sands projects to produce crude are garnering significant
investment and interest from large and small companies. This
has resulted in a need to treat soil for hydrocarbon
contamination. A similar need is also felt by conventional
oil and gas companies to treat water that they use during
the production process for contamination of hydrocarbon and
other impurities.
Wescorp has three proven water remediation and purification
technologies that are marketed under a wholly owned
subsidiary called Total Fluids Solution Inc. These solutions
overcome a full range of environmental operational
challenges including contaminated solids remediation and
oil/water separation.
These technologies are practical, safe and effective
processes for the remediation of oil and gas field contaminants directly at the well site. These technologies
can be used independently or as an integrated solution
depending on the complexity of the contaminants.
Total Fluid’s oil-water separation technology is
significantly decreasing operating costs and bringing the 3
R’s to oil field production: Reduce Water, Reuse Water
and Recycle Water.
Wescorp Energy Inc. announced in December 2007 that it had
acquired certain assets and intellectual property from FEP
Services Inc., a private Canadian corporation specializing in
water remediation.
Virtually all oil reservoirs contain associated formation
water which is produced with the oil. Using current water
remediation and cleansing practices, approximately 0.5 - 3%
residual oil remains in the separated water which must be
disposed of, frequently by injection back into the reservoir
or left on the surface as toxic tailing ponds.
Wescorp's unique patented aeration system creates micron-sized
gas bubbles which super saturate the produced water. As the
solids are cleaned of hydrocarbon, the heavy solids fall and
the lighter suspended solids rise and are encapsulated in the
recovered oil. Our innovative tank configuration removes the
oil and a slight amount of water from the primary tank. This
oil-water mixture flows through the remainder of the system,
achieving virtually total separation of the oil and produced
water. The recovered oil flows into an oil collection tank and
the water, free of oil and solids, is pumped down a disposal
well back into the reservoir. Through this process the
hydrocarbon content in the injected water is reduced from the
conventional 5,000 to 30,000 parts per million to under 50
parts per million. The economic advantages, which include
reducing the frequency of expensive remedial work on injection
wells, recovering additional reserves from the reservoir and,
in some cases, decreasing the amount of surface treating
facilities, will make a significant difference in the
operating costs of an oilfield.
The economic advantages, as great as they are, are dwarfed by
the environmental advantages.
Enhanced recovery methods, which include water flood in
conventional oil reservoirs and steam assisted gravity
drainage and cyclic steam stimulation in oil sands, all use
massive amounts of fresh water injected into the reservoirs,
which is then produced back with the oil as contaminated water
which must undergo remediation. The high demand for
hydrocarbons and declining oil reservoirs, coupled with the
high price per barrel of crude oil, create an atmosphere in
which enhanced oil recovery is a critical component for all
producers. In Canada, government imposed environmental
regulations are currently being implemented to stop the
injection of fresh water currently being used during the
enhanced oil recovery methods.
Extremely large quantities of water are being taken from
natural sources in Alberta, Canada for use in oil sand
extraction and upgrading facilities. Using current oil sand
extraction practices, it takes between two and four barrels of
fresh water to produce one barrel of synthetic crude. Figures
from Alberta Environment show oil sand mining operations
contaminated 540 million barrels of natural water in 2006 from
the Athabasca River - a 950 mile river that is the largest
fresh water source for oil sand production in the province.
Existing and approved oil sand operations are currently
licensed to remove and use 2.5 billion barrels of water.
Extraction from the oil sands is expected to nearly quadruple
over the next two decades to four million barrels of oil per
day in 2030. Current production is approximately 1.1 million
barrels of oil per day.
The volume of water flow in the Athabasca River is currently
30% lower than historic levels. According to a recent report
by the Pembina Institute, the water used for petroleum
extraction is stored in huge, toxic tailing ponds that now
cover an area of more that 20 square miles in Alberta.
This new technology has the ability to significantly help with
water shortages in a number of oil and gas producing areas,
including the Barnett Shale production areas in the USA.
Wescorp's solution provides a substantial economic and
environmental impact for the Oil & Gas Industry.
Environmental Remediation – Water/Oil Separation Market
Size
- Global market for cleaning and reuse of produced water
is in the hundreds of billions of dollars
- Cleaning and disposal of contaminated water associated
with the production of Alberta’s oil sands is estimated to
be billions of dollars
- As an example, 540 million barrels of water were
contaminated by oil sands exploration, development and
production in Alberta in 2006
- Oil and gas companies are experiencing immense pressure
to clean contaminated solids that result from conventional
and unconventional oil productions
- Total Fluid Solutions has a separate proprietary
technology to clean solid waste material which results from
oil and gas drilling and production operations
- This technology separates and cleans solid waste
materials from oil sands mining development and SAGD
operations
- The process transforms contaminated solid materials from
a contaminated waste product to a material that is approved
by environmental agencies for commercial and residential
construction use
- Eliminates the significant cost and the retained
liability associated with the disposal of contaminated
solids in the oil and gas industry
- Allows for the reclaimed solids to be reused or sold for
commercial or residential construction
- The North American market for cleaning and reuse of
contaminated solids from heavy oil exploration and
development is in excess of $100 billion
- Cleaning and disposing of drill cuttings associated with
the drilling of Alberta’s oil sands is estimated to be in
the excess of $24 billion
Flowstar DRC-Series Gas Metering Solution
Flowstar Technologies Inc. is a wholly owned subsidiary
of Wescorp Energy that produces and markets advanced natural
gas and natural gas liquids (LNG) measuring devices based on
a patented turbine-based Digital Chart Recorder (DCR)
technology. DCR-series metering systems are self-contained
energy-efficient flow computers with integrated volume
calculators. In 2007, revenue for the Flowstar
business division exceeded $3.1 million.
Ellycrack Heavy Oil Upgrading Technology
Wescorp also owns 56.5% of Ellycrack A/S, a private
technology company based in Norway that has developed and
owns the intellectual property to a patented high-intensity
thermodynamic cracking process for processing and upgrading
heavy oil. The process is proven to upgrade 6 API crude to
22 API in a single pass with further enhancements expected
to raise that upper limit to 31 API. (Crude oil is graded
according to gravity, measured by the American Petroleum
Institute degree of gravity (API): the higher the number,
the lighter the grade.)
- Heavy investment in the oil and gas industry.
- Escalating operational and production costs.
- Severe shortage of experienced personnel & other
resources.
- Growth in unconventional Oil & Gas sector.
- Escalating environmental demands
Recent News and Press Releases
Wescorp's Flowstar Technologies Secures Record
Breaking Order Estimated to Be Over $1 Million
Marketwire (Thu, July 24)
WESCORP ENERGY INC Files SEC form 8-K, Regulation FD
Disclosure, Financial Statements and Exhibits
EDGAR Online (Fri, Jul 11)
Wescorp's Flowstar Technologies Launches Proprietary
IFMWorks Web-based Hosting Solution
Marketwire (Thu, Jul 10)
Wescorp Energy Inc.: Mark Norris Appointed Chairman
of the Board
Marketwire (Thu, Jun 26)
WESCORP ENERGY INC Financials
EDGAR Online Financials (Tue, Jun 17)
WESCORP ENERGY INC Files SEC form 10-Q, Quarterly
Report
EDGAR Online (Fri, May 30)
WESCORP ENERGY INC Financials
EDGAR Online Financials (Sat, May 24)
WESCORP ENERGY INC Files SEC form 10KSB, Annual
Report
EDGAR Online (Thu, May 15)
WESCORP ENERGY INC Files SEC form 8-K, Regulation FD
Disclosure, Financial Statements and Exhibits
EDGAR Online(Mon, Mar 10)
Canadian Heavy Oil Company Selects Wescorp NAVIGATOR
Services to Streamline Field Operations
Marketwire(Wed, Mar 5)
WESCORP ENERGY INC Files SEC form 8-K, Entry into a
Material Definitive Agreement, Unregistered Sale of
Equity Securi
EDGAR Online(Wed, Feb 20)
Wescorp Energy Deploys First Water Remediation
Solution for Oil Operator in Western Canada
Marketwire(Tue, Feb 19)
Industry Gas Producer First to Adopt Wescorp
Energy's Gas Management NAVIGATOR Solution
Marketwire(Thu, Jan 31)
Wescorp Energy Poised for 'Year of Execution'
Marketwire(Thu, Jan 17)
WESCORP ENERGY INC Files SEC form 8-K, Completion of
Acquisition or Disposition of Assets, Unregistered
Sale of Equit
EDGAR Online(Fri, Dec 21)
Wescorp Energy Announces Purchase of Water
Remediation and Purification Technology
Marketwire(Wed, Dec 19)
WESCORP ENERGY INC Financials
EDGAR Online Financials(Sat, Dec 15)
Wescorp Energy Announces Strong Sales Growth for the
3rd Quarter 2007
Marketwire(Wed, Nov 21)
Management
Mark Norris
Chairman
2008 - Present
Mark P. Norris is a well known Alberta businessman with
extensive experience in both the private sector and
government. He served as Alberta's Minister of Economic
Development from 2001 to 2004. During his tenure he initiated
numerous programs to foster the province's economic growth.
Mr. Norris joined the Wescorp Energy board in March 2007.
Doug Biles
President, CEO
2004 - Present
Doug Biles brings over 35 years of experience in the upstream
hydrocarbon industry. This experience includes a broad scope
of technical, operational, management and board issues that
span multiple decades and continents.
Scott Shemwell
COO
2006 - Present
Scott Shemwell brings over 25 years of experience leading
turnaround and transformation processes for global S&P 500
organizations as well as start-up and professional service
firms. Mr. Shemwell's unique background and expertise in oil
field management make him highly qualified to guide oil and
gas companies in creating economical and efficient oil fields
of the future.
Contact
Investor Relations contact:
Wescorp Energy, Inc.
David Jones
(705) 845-0933 or Toll Free: 1-877-247-1975
Email:
djones@wescorpenergy.com
Website:
www.wescorpenergy.com
Media contact:
For Wescorp Energy, Inc.
Virginia Brooks
(903) 532-9714
Email:
virginia@brooksandassociatespr.com
FORWARD LOOKING STATEMENTS
This report includes forward-looking
statements that reflect Wescorp Energy, Inc. current
expectations about its future results, performance,
prospects and opportunities.
Wescorp Energy, Inc. has
tried to identify these forward-looking statements by using
words and phrases such as "may," "will," "expects,"
"anticipates," "believes," "intends," "estimates," "plan,"
"should," "typical," "preliminary," "we are confident" or
similar expressions. These forward-looking statements are
based on information currently available and are subject to
a number of risks, uncertainties and other factors that
could cause Wescorp Energy, Inc.'s actual results,
performance, prospects or opportunities to differ materially
from those expressed in, or implied by, these
forward-looking statements. These risks, uncertainties and
other factors include, without limitation, the Company's
growth expectations and ongoing funding requirements, and
specifically, the Company's growth prospects with scalable
customers, and those outlined above. Other risks include the
Company's limited operating history, the Company's history
of operating losses, consumers' acceptance, the Company's
use of licensed technologies, risk of increased competition,
the potential need for additional financing, the terms and
conditions of any financing that is consummated, the limited
trading market for the Company's securities, the possible
volatility of the Company's stock price, the concentration
of ownership, and the potential fluctuation in the Company's
operating results.
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