ETX Systems

Press Release

Date: October 30, 2007

ETX Systems Inc welcomes R. Keith MacLeod, president of Sproule Associates Ltd. to its Board of Directors

CALGARY, AB – ETX Systems Inc. is pleased to announce the appointment of R. Keith MacLeod, P.Eng. to its board of directors, effective October 29, 2007. As President of Sproule Associates Ltd., a privately owned geological, geophysical, and petroleum engineering consulting company with over 100 employees, Keith is considered an expert on upstream issues and challenges faced in development of Canada’s oil sands resource

“We are privileged to have Keith sit on the ETX board. Keith's vast knowledge and understanding of the economics of oil sands development, coupled with the experience he has gained in growing a successful private company will be a tremendous asset for ETX”, said Gerard Monaghan, President and CEO of ETX Systems Inc. “ETX is focused on the primary upgrading of bitumen and is pursuing the development of the “field upgrading” concept. Our objective is to develop a solution that vertically integrates bitumen production and upgrading at a scale that delivers superior economic returns in comparison to conventional large-scale oil sands production and upgrading approaches. Keith’s ability to evaluate upstream interests will help ensure we maximize the value of our work”.

Keith received his B.S. (Honours) in Engineering from Montana College of Mineral Science and Technology. He worked for Quintana Exploration of Canada and James A. Lewis Engineering prior to joining Sproule in 1984. Keith is active with the Society of Petroleum Engineers, as a Past President of the Canadian Section and as co-chair of the Gas Technology Symposium and Horizontal Well Technology Conferences. Keith has been an industry advisor to the Alberta Securities Commission, and also served on the Oil and Gas Taskforce and Sub-Committee. He is a member of APEGGA, SPEE, and the Petroleum Society of CIM.

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. (

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