CALGARY, ALBERTA -- (Marketwired) -- 07/17/17 -- Raise Production Inc. (TSX VENTURE: RPC) ("Raise" or the "Company") announces award of Australian Patent.
Horizontal Wellbore Production System
The Company is pleased to announce that it has received the Australian patent for its Horizontal Wellbore Production System (the "System"). The patent grant legally protects the intellectual property for a number of method claims for the System in that country. The Australian patent is in addition to the Canadian Patent received previously and once again validates the uniqueness of the System and the process of producing horizontal wellbores with multiple pumps.
This is the first international patent award for the System. The Company is well into the patent process with its system and method applications and has had positive feedback in all of the additional eight international regions where the application is in process including the United States. The Australian patent is particularly valuable as the Company has been in initial discussions with E & P companies in that country over the last few months for both the System and the High Angle Lift Solution ("HALS").
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.
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President and Chief Executive Officer
Chief Financial Officer
Raise Production Inc.
2620-58th Avenue S.E.
Calgary, Alberta T2C 1G5