Photon Control, Husky Energy Sign Flow Meter Agreement

BURNABY, British Columbia, March 13 -- Photon Control Inc., a developer of photonic sensors and controls, said it has entered a product development agreement with Husky Energy, of Calgary, Alberta, for the commercial production of optical flow meters for the oil and gas industry.

Photon Control will develop a flow meter for measuring gas released from oil wells at low pressure. There are over 10,000 such wells in Alberta, and the number is rapidly increasing, Photon said. The project will include evaluation of the new design for shallow gas well production measurement.

The project is scheduled for completion later in 2003, with commercial production of the meters expected in early 2004. Photon said it is reviewing the opportunity to work with an established gas flow meter manufacturer and marketing corporation to introduce these improvements as quickly and economically as possible. Two prototypes will be deployed for field tests in producer fields in western Canada. Both parties will contribute engineering and management resources to collect and analyze performance data.

Photon Control recently licensed technology from TransCanada PipeLines Ltd., of Calgary, to develop optical flow meters for the energy sector. The use of light as the basis of measurement means that these meters are also intrinsically safe for use in hazardous environments, as there is no electricity present and they are immune to interference from the surroundings, including electro-magnetic and RF interference, the company said.

For more information, visit: www.photonixco.com