Some Good News
Things seem to looking better with PHO, I read this on globeinvestor:
Photon Control Signs Agreement With Leading Petroleum Operator
BURNABY, BC, Dec. 11 /CNW/ - Photon Control Inc. ("Photon") (TSX-VEN: PHO) is pleased to announce that as a result of the establishment of a Joint Industry Project (JIP) by Photon with members of the Petroleum Technology Alliance Canada (PTAC), a leading petroleum operator headquartered in Calgary has signed an agreement to provide cash contributions and field test sites for all three of the optical flow meter applications being developed by Photon that are within the scope of the JIP. These applications are respectively for vent or similar gas flow; for shallow well or coal bed methane gas flow and for steam quality and flow. Each cash contribution will be credited against purchases starting in 2004. The first field installation of a vent gas meter will be in Alberta in January 2004.
The JIP arrangements are intended to provide working capital for the technology partner (Photon) and targeted technology innovations to the operating partner. These arrangements are intended to expedite the availability of new optical gas flow meters to the market which have considerable advantages over existing metering alternatives.