CALGARY, ALBERTA — (Marketwired) — 10/02/17 — Raise Production Inc. (TSX VENTURE: RPC) (“Raise” or the “Company”) announces award of Russian Federation Patent.
Horizontal Artificial Recovery Technology (“HART”)
The Company is pleased to announce that it has received the system and method patent from the Russian Federation for its Horizontal Artificial Recovery Technology (“HART”). The Company has referred to the HART system in previous press releases as the Horizontal Wellbore Production System or the System.
The Russian Federation patent is in addition to the Canadian and Australian patents previously awarded. This is the second international patent award in addition to the Canadian patent for the HART. The award of these international patents is validation of the uniqueness of the HART in respect to the method of multiple pumps deployed into horizontal wellbores. The Company expects the remaining seven international patent applications including the United States to be approved in due course.
About Raise Production Inc.
The Company is an innovative oilfield service company that focuses its efforts on the production service sector, utilizing its proprietary products to enhance and increase ultimate production in both conventional and unconventional horizontal oil and gas wells.
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 news release.
This news release contains certain forward-looking statements. All statements, other than statements of historical fact, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from these anticipated in such statements.
Contacts:
Eric Laing
President and Chief Executive Officer
Susan Scullion
Chief Financial Officer
Raise Production Inc.
2620-58th Avenue S.E.
Calgary, Alberta T2C 1G5
(403) 699-7675
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