Raise Production Inc. Announces Contract Award and Provides Operational Update

CALGARY, Alberta, April 10, 2018 (GLOBE NEWSWIRE) — Raise Production Inc. (TSX-V:RPC) (“Raise” or the “Company”) is pleased to provide an update to its shareholders on recent activities related to its High Angle Lift Solution (“HALS”).

The Company is pleased to inform shareholders that it has received the contract for the development of its HALS for use in heavy oil applications from a major Canadian producer. The HALS will be utilized to deliver quality fluid from the wellbore to the pump intake, thereby increasing lifting efficiency. The pump intake will be a high volume electrically driven component supplied by a third party. This will be the first application of this kind in this type of wellbore. The contract includes costs for development engineering and conceptual design.

In Canada and the USA, the Company continues to modify and improve design specifications of its High Angle Reciprocating Pump (“HARP”), a component of the HALS, for the deeper and longer wellbores and has a number of projects in process in the Permian, Bakken and other areas of Texas. Installations in Canada have slowed due to spring break up, but the Company has a number of installs to perform after breakup.

Internationally, the Company presented at the OMV Petrom (Romania) New Technology days in Bucharest at the end of March 2018 with good response from the Romanian asset teams. This was initiated by the Company’s USA partner, Endurance, which has a contract with OMV Petrom S.A. and 12 operating stations in the area. In the coming months, the Company intends to use the service expertise in Romania to expand into other markets in that area.

About Raise Production Inc.

The Company is an innovative oilfield service company that focuses its efforts on the production service sector, utilizing its proprietary products to enhance and increase ultimate production in both conventional and unconventional oil and gas wells.

For further information please contact:

Eric Laing, President and Chief Executive Officer
E-mail: elaing@raiseproduction.com

Geoff Steele, Chief Technical Officer
E-mail: gsteele@raiseproduction.com

Raise Production Inc.
2620-58^th Avenue S.E.
Calgary, Alberta T2C 1G5
Tel: (403) 699-7675
Web site at: www.raiseproduction.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Certain information included in this news release constitutes forward-looking statements under applicable securities legislation. Forward-looking statements or information typically contain or can be identified by statements that include words such as “anticipate”, “assume”, “based”, “believe”, “can”, “continue”, “depend”, “estimate”, “expect”, “forecast”, “if”, “intend”, “may”, “plan”, “project”, “propose”, “result”, “upon”, “will”, “within” or similar words suggesting future outcomes or statements regarding an outlook. Such forward-looking statements or information are based on a number of assumptions that may prove to be incorrect. Assumptions have been made regarding, among other things: the potential to increase recoverable reserves for customers by utilization of the HALS and HART systems, the ability to commercialize products and operations, the ability to adequately protect proprietary information and technology from its competitors; the ability to obtain partnering opportunities; the ability to attract and retain key personnel and key collaborators; and the ability to successfully compete in targeted markets.

The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to publicly update or revise any of the included forward-looking statements, except as required by applicable Canadian securities law. Forward-looking statements are based upon the current opinions, estimates, projections, assumptions and expectations of management of the Company as at the effective date of such statements and, in some cases, information supplied by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and that information received from third parties is reliable, it can give no assurance that those expectations will prove to have been correct. By its nature, forward-looking information involves numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statement will not occur. These risks and uncertainties include, but are not limited to: the possibility that testing, deployment and commercialization of the Company’s products and regulatory changes. Accordingly, readers should not place undue reliance upon the forward-looking statements contained in this news release and such forward-looking statements should not be interpreted or regarded as guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedar.com.