KELOWNA, British Columbia--(BUSINESS WIRE)--Nov. 20, 1997-- Harold Lauman, President/Director, of Aqua Pure Ventures Inc. (VSE:AQE) (the "Company") is pleased to report that the Company has entered into an agreement with Anadime Corporation ("Anadime") to provide a 53,000 USgal/day wastewater
The Aqua Pure Unit will be used in conjunction with Anadime's sand washing process, which will be installed at their new oilfield waste treatment facility located near Elk Point, Alberta.
The Company will lease to Anadime the Aqua Pure Unit for a sum of $20,000.00 per month for up to a five-year period. Anadime shall have the option to purchase the Aqua Pure Unit at any time after May 1, 1999, for the sum of $1,200,000.00. It has also been agreed to in principal that Anadime will order a second Aqua Pure Unit, later in 1998, for its planned facility at Cold Lake, Alberta. Sizing and pricing of this unit are still to be determined.
Anadime is rapidly becoming the leader in the area of oilfield waste management with four major receiving stations located throughout Alberta and at least six more facilities planned for the Western Canadian and U.S. oilfields. Anadime's growth strategy appears to be linked to its mandate, and dedication to acquiring the highest state-of-the-art technology throughout their various processes. This commitment (according to their President & C.E.O. Owen Pinnell) has without question placed Anadime in the enviable position of being the most cost-effective operator within the industry. Aqua Pure is pleased to be part of the Anadime commitment.
Aqua Pure's ability to provide low-cost pure water from poor quality ground water has also attracted the attention of several major oil companies operating within the heavy oil/tar sands located in North East Alberta and Saskatchewan. Proposals are in progress to at least three major operators for the supply of units to delivery quality feed water to their various steam generating systems. High quality boiler feed water allows for improved efficiency of steam generation and consequently more oil is produced for the same energy costs.
Aqua Pure Ventures Inc., headquartered in Kelowna, BC, is a supplier of industrial wastewater treatment systems. Aqua Pure has successfully processed landfill leachate, mine tailings pond waters, secondary sewage and heavily polluted saltwater. The company is listed on the Vancouver Stock Exchange (VSE), under the symbol AQE.V. -0-
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CONTACT: Aqua Pure Ventures Inc.
Harold Lauman, 250/762-8900 or 1-888/218-9999 Toll Free
Website: http://www.aqua-pure.com
Email: info@aqua-pure.com