ETX Systems

Press Release

Date: September 20, 2006

Capital estimate completed for commercial demonstration facility

CALGARY, AB – ETX Systems has completed a capital estimate for a commercial demonstration of its patented ETX Upgrading technology. The estimate was obtained for a green field setting in Northern Alberta, processing a vacuum topped bitumen at a rate of 1,000 bbl/d.

"This estimate constitutes a significant milestone for us.", says Wayne Brown, COO. "The industry has been struggling with escalating capital costs to the point where it is difficult to get a reliable estimate based upon past projects. There is only one way to get a believable estimate, and that is to formally produce one on your own."

ETX Systems carried out the estimate using an experienced team assembled for this purpose. Full material tack-offs were generated, resulting in a class III level estimate. ETX Systems has now turned its attention to finding a host for the demonstration.

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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