A non-binding Memorandum Of Understanding has been entered between Wescorp Energy and Cancen Oil Canada. Through this understanding the parties express their mutual intent to enter into a formal agreement for Cancen to provide the technical and mechanical services to perform site restoration, including soil remediation, of an estimated 1800 abandoned wells.
"We are pleased that Wescorp has the ability to design and construct transportable remediation units, scaled to offer different capacities of hydrocarbon throughput, which we believe would enhance the profitability of any site-specific work," commented Keith Talbot, CEO and President of Cancen Oil Canada.
"The combination of Wescorp's remediation technologies and Cancen's ability to identify new remediation business in western Canada is proving to be very valuable for each company," commented Doug Biles, CEO and President of Wescorp Energy. "We look forward to the possibility of working with Cancen to solve this client's reclamation and restoration issues."
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About Wescorp
Wescorp Energy is an oil and gas operations solutions company focused on commercializing technologies that overcome tough operational challenges facing oil and gas operators today.
Wescorp shares currently trade on the NASD.OTC Bulletin Board under the symbol "WSCE".
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