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TSX Venture Exchange symbol: FOX
TORONTO, Dec. 22 /CNW Telbec/ - Fiber Optic Systems Technology, Inc. ("FOX-TEK"), (TSX-V: FOX), a developer and manufacturer of patented non-intrusive sensing systems, today announced commissioning of a remote PinPoint station for a large gas and oil producer in Western Canada. The system is automatically collecting data daily to look for the effects of internal pipeline corrosion, as part of the client's integrity management program.
Mr. Sam Cauchi, FOX-TEK's Director of Sales, said "This PinPoint system is solar powered, has cell phone telemetry, and is designed to provide data year round. The remote location of the pipeline is ideal for PinPoint monitoring, as data can be retrieved without expensive field visits. With this system, there is no delay in analyzing data; it is immediately processed and displayed online using FOX-TEK's new DMAT Web. Clients can visit the site any time, enter a unique username and password, and see all the PinPoint internal corrosion information, up to the current hour. Such rapid data turn-around supports client integrity assurance actions on a timely and cost effective basis, with resulting enhanced environmental protection."
Mr. Cauchi added "Reaction to data on demand has been very positive with those clients now using our new web-based system. We will be migrating data delivery to all of our PinPoint pipeline, refinery, and chemical plant clients to DMAT Web in the near future."
About FOX-TEK:
Fiber Optic Systems Technology, Inc. "FOX-TEK" develops and sells non-intrusive asset health monitoring sensor systems for the oil and gas market to help operators: track the thinning of pipelines and refinery vessels due to corrosion/erosion, monitor strain due to bending/buckling or soil movement, check for leaks, and prevent unauthorized access.
FOX-TEK has offices in Toronto, ON; Calgary, AB; Houston, TX; and Al-Khobar, Saudi Arabia. FOX-TEK is traded on the TSX Venture Exchange under the symbol "FOX". For more information, visit www.fox-tek.com.
This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in FOX-TEK's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. FOX-TEK has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
SOURCE: Fiber Optic Systems Technology, Inc. (FOX-TEK)
FOX-TEK: Mr. Sean Carr, Interim President and CEO, Fiber Optic Systems Technology, Inc., (416) 665-2288, scarr@fox-tek.com; Investor Relations contact: Renmark Financial Communications Inc.: Barry Mire, bmire@renmarkfinancial.com; Christine Stewart, cstewart@renmarkfinancial.com; Montreal: (514) 939-3989, Fax: (514) 939-3717; Toronto: (416) 644-2020, Fax: (416) 644-2021; www.renmarkfinancial.com
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