ETX Systems

Press Release

Date: January 26, 2006

ETX Systems secures seasoned upgrading design and operations experience

CALGARY, AB – Gerard Monaghan, CEO of ETX Systems, is pleased to announce the appointment of Ross Holuk as Vice President of Engineering and Operations for ETX Systems. Ross comes to ETX Systems from Holuk and Associates Inc., where he served as President. Ross brings a wealth of experience to ETX Systems in the areas of design and operations. His past work experience includes a role as a Senior Operations Consultant and Detailed Design Consultant to Neste Oil in Helsinki, Finland and to Shell Canada in Fort Saskatchewan, Alberta.

As the Head Engineer of Residue Hydroconversion for Shell Canada, Ross was part of the original design team of the Athabasca Oil Sands Project (AOSP) Upgrader in Fort Saskatchewan Alberta which developed the novel integration of Residue Hydroconversion and Hydrotreating technologies. Ross was the Engineering Coordinator for the start up of the two trains of Primary Upgrading at the AOSP Upgrader. Earlier in his career Ross worked for Syncrude Canada in a number of areas, including Operations, Process Development and Process Design.

"We are very excited to have Ross come on board", said Wayne Brown, COO of ETX Systems. "We have been engaged in a resource planning exercise for some time, and Ross fills in a critical gap that we had in operations. It is particularly fortuitous, considering the red-hot market that currently exists in Alberta. An individual with Ross' credentials would have a number of employment opportunities. We are glad that we were able to convey to him the excitement that we feel about the project, and the significant upside potential that exists within ETX Systems."

Ross holds a Bachelors of Science degree (Chemical Engineering) which he obtained from the University of Calgary in 1987.

ETX Systems Inc. is a fit-for-purpose private entity based in Calgary, AB, whose sole mandate is to commercialize its patented IYQ Upgrading technology. The process claims to deliver revolutionary yields and qualities relative to delayed coking, for significantly less cost per barrel. The increased production of high quality liquids leads to reduced environmental impact, leveraged through both the upstream and downstream scope.  For more information contact Gerard Monaghan, CEO of ETX Systems Inc. (gerard.monaghan@etxsystems.com).

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