NXT Energy completes $1 million Bolivia contract expansion (Scandinavian Oil-Gas Magazine)

NXT Energy completes $1 million Bolivia contract expansion

Published Jan 22, 2016

NXT Energy Solutions Inc. has completed its Bolivia survey contracts.

NXT Energy's US $13 million (net of applicable Bolivia sales taxes arising) SFD® survey project for Yacimientos Petrolíferos Fiscales Bolivianos commenced in May 2015, and its scope was later expanded by a value of approximately US $1 million (net).

The Company's interpreted results and recommendations for this additional survey data, which will be recognized as revenue in Q1-2016, were recently delivered, following which a final 50% progress billing of US $0.5 million (net) becomes due.

Tags: NXT Energy Solutions Inc.

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