LAS VEGAS, Aug. 9, 2007 (PRIME NEWSWIRE) -- MetaPower International, Inc. (Pink Sheets:MTPW) is pleased to announce that the Company's subsidiary, MetaPower Canada, has received a purchase order for $350,000 Canadian to lead a Production Reliability Improvement Project for an energy company's Oil Sands operation in Northern Alberta. The purchase order is valued at $334,000 U.S. at current exchange rates.
MetaPower will lead the effort to analyze the company's oil refinery production problems and determine actions to reduce or eliminate them. These production problems cost the companies operating on the oil sands hundreds of millions of dollars annually. For example, one refinery was unable to produce approximately $300 million in oil due to equipment failures that shut down part of the refinery.
Currently, MetaPower Canada has signed purchase orders with a combined value of $3.7 million U.S. with a major Canadian Oil Sands company. MetaPower Canada continues to provided Project Management and Management Staffing support for oil extraction facilities in the Oil Sands region of Northern Alberta. The Management and Staffing Support scope is valued at $2.2 million U.S. and provides Management and Maintenance Planning Staff for the company's Oil Sands refinery. The Project Management portion scope is valued at $1.5 million U.S.
"This is an important scope of work for this client. The reliability of these facilities represents hundreds of millions of dollars to this company and this is a first step in addressing what has been a very expensive problem. MetaPower will be leading a team of company personnel and outside experts to examine a portion of the plant to determine what can be done to improve reliability. If this first research analysis project is successful, we expect to examine other areas of the plant that have reliability issues," stated Ken Allen, President of MetaPower International, Inc.
About MetaPower International, Inc.:
MetaPower International, Inc. is a technology firm founded in 1996 that provides information technology and change management services to hazardous process industries. This link between technology and services is critical to enable the changes necessary to successfully compete in the current environment. In today's competitive world, business operations must be streamlined if new levels of performance and operational excellence are to be achieved.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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