CALGARY, ALBERTA--(Marketwire - July 30, 2012) - Zedi Inc. (the "Company") (TSX VENTURE:ZED.V - News) "One of the company's objectives when we acquired Southern Flow was to have a vehicle to take Zedi's technology into the US market. We have done that with Zedi SCADA, TrueChart and Zedi Access. Today we are announcing that we have now taken SilverJack, our hydraulic pump technology, to the US with the delivery of 5 units to Victoria, Texas. This is important for two reasons; first because SilverJack addresses the larger US oil market with technology that has been proven and had good penetration in the Canadian market in a short period of time and second because it further diversifies the products and services offered through our 12 Southern Flow offices", said Matthew Heffernan, President and CEO of Zedi.
SilverJack was acquired by Zedi in June 2011, as the Company continued the execution of its strategy to diversify into oil from its foundation of dominance in the Canadian gas measurement market. The technology is targeted at lower producing oil wells, which represent approximately 80% of the North American market. Since the acquisition Zedi has expanded the capabilities of SilverJack with the addition of rod rotation, the development of a multi-well, single power pack pad solution and full integration into Zedi Access, which gives producers visibility and control of their wells remotely.
The Company will announce 2012 second quarter financial results following the close of markets on August 16, 2012 and will host a conference call on Friday, August 17, 2012 to discuss the financial results. Analysts, members of the media and other interested parties are invited to participate in the conference call, which will begin at 9:00 am Mountain Daylight Time (11:00 am Eastern Daylight Time).
The press release announcing results, financial statements and MD&A concerning the 2012 second quarter financial results, will be posted on the Company website www.zedi.ca prior to the conference call. You may participate in the call by telephone at 416-340-8527 or toll free at 1-877-240-9772.
A replay of the conference call will be available on the Company website (www.zedi.ca) for fourteen days following the call. Also, a replay may be accessed by telephone at 905-694-9451 or toll free at 1-800-408-3053 until August 24, 2012 (pass code:6027909).
Zedi Inc. (TSX VENTURE:ZED.V - News) provides integrated services, applications, and technology to oil and gas producers to help efficiently manage their production operations. Having established a leadership position in our base market, we continue to grow globally by operating in 25 countries around the world. Our expertise helps producers increase revenue while reducing operating costs and ensuring regulatory compliance.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.