NEWS & INFO
News » RTM Wins $2.3M Bid Mon Apr 20 2:55:41 UTC 2009
Real Time Measurements Inc. (RTY on TSX.V) (the “Company”) Terry Matthews, President of Real Time Measurements Inc. is pleased to announce RTY has won a bid for a contract to supply downhole electronic instrumentation estimated to be worth about C$2.3M to a major oil producer in the Middle East region. Under the security provided by a Bid Bond which RTY has provided to the client, RTY and the client are presently engaged in the awardness procedure which is expected to result in a formal contract. Once a Letter of Credit is issued to RTM the goods will be manufactured and delivered. It is expected to take roughly 90 days to finalize the details of the contract, and, despite the optimism on both sides of the bargaining table, at this juncture there is no assurance the forthcoming negotiations will result in a contract. The Bid Bond submitted to the client is secured by a Performance Security Guarantee provided by Export Development Canada.
Real Time Measurements is a Canadian oil and gas technology development company that designs, builds and sells equipment and provides services to oil and gas companies in various parts of the world. The company uses innovative applications of recent technological developments to solve selected oil and gas upstream measurement problems in more efficient ways. The Company’s primary business activity revolves around the commercial development of premium quality sensors and data gathering systems which are used primarily in oil and gas wells.
For further information please contact
President, CEO, Director
Real Time Measurements Inc.
4500 50th Avenue SE Calgary AB T2P 3R4
Certain statements included in this news release constitute “forward-looking information” within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. However, we disclaim any intention and assume no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise. The forward-looking information contained in this news release represents the expectations of Real Time as at April 20 2009, and, accordingly, is subject to change after such date. However, Real Time expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.The TSX Venture Exchange has not reviewed this release and it does not accept responsibility for its adequacy or accuracy.