News Column

Zedi Closes Significant Deal with Crescent Point Energy for Artificial Lift Technology

Jan 21 2013 12:00AM

Marketwire

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CALGARY, ALBERTA -- (Marketwire) -- 01/21/13 -- Zedi Inc. (the "Company" or "Zedi") (TSX VENTURE: ZED) - Zedi completed a purchase agreement in late December 2012 with Crescent Point Energy ("Crescent Point"), to equip Crescent Point's new drill program near Viking, Alberta, with the Zedi SilverJack artificial lift system. Crescent Point also agreed to purchase Zedi Oil Well Test for nearly 250 active well sites. This purchase represents a significant investment in Zedi's oil offerings.

"Crescent Point is always eager to find innovative methods to improve production and deploy field technology", says Neil Smith, Vice President Engineering and Business Development from Crescent Point Energy. "We've adopted Zedi SilverJack because our installation time is now hours instead of days, and our operations team finds the control panel easy to use both at the well and remotely. This flexibility improves our overall performance and saves costs."

Crescent Point will begin testing their wells using Zedi's Oil Well Test in the first quarter of 2013. Zedi Oil Well Test is expected to allow for the completion of more tests with less effort, which is expected to reduce the frequency of orifice plate changes and eliminate data errors that happen if an operator is not able to be on site at a specific time. The deployment of this new technology is expected to help Crescent Point meet their 2013 growth goals.

Zedi Inc. (TSX VENTURE: ZED) helps the world's oil and gas producers be more productive, more profitable, and more sustainable through technology backed by expert consultation and services. Our 60 years of continuous operations in North America and recognition as one of the industry's best workplaces, sets us apart in the production operations landscape. With our unique combination of award-winning automation, data management, and field and professional services, we offer solutions to our customers' challenges and help them realize their production potential.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contacts:
Zedi Inc.
Debra Deane
Investor Relations
403-802-7092
403-444-1101 (FAX)
investor@zedi.ca





Source: Marketwire