Canada: heavy oil upgrader project

Sonic Technology Solutions Inc. has entered into a joint venture agreement with Mirex Energy Inc. to construct and operate the first PetroSonic heavy oil upgrader in Canada. Mirex is an oil production and services company operating in the Lloydminster region and will be the operating partner in the JV. The project will initially be designed for a 1000bpd facility to be located on the Elizabeth Metis Settlement in Alberta. The PetroSonic facility will be designed to upgrade local heavy oil supplies to meet the minimum API requirements for Canadian pipelines. Mirex will provide facilities for the installation and initially manage the operating contracts. Sonic will grant a license for its proprietary PetroSonic upgrader technology and manage the installation and start-up. Mirex and Sonic will be equal partners exclusive of any interest in the project by the financing partners.
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