New contract wins and business initiatives include: ▪ The...

New contract wins and business initiatives include:
▪ The project commissioned in September 2020 to reuse oil field water has been successful. The major exploration and production (E&P) company using HFT water treatment technology and equipment will continue its purchases into 2021 with additional contract wins expected in this sector.


▪ A purchase order from a major South Texas E&P company for completion fluids has been extended and HFT is seeing an expansion of purchase orders from other existing clients.

▪ HFT’s largest dry-polymer customer has committed to shift from commodity chemistry to SciDev bespoke chemistry offerings, with increased sales projections aligned with significantly increased business in H1 CY2021.

▪ A major European Oil Company has seconded HFT staff to provide product development and application support for new environmentally friendly oilfield performance chemistry. Several patent applications have been lodged with commercial activities now under consideration.


▪ Chemistry development initiatives with a major American multinational oil & gas corporation continue, with several HFT staff now engaged. A contract is expected to be entered into in early CY2021.
▪ HFT and Flotek maintain a good working relationship, assessing opportunities to utilise HFT fluids on drilling programmes in the Eagle Ford, Unita and other Basin structures in southwest US.
▪ HFT is on track to deliver ~A$4m of revenue for Q2FY21 (A$1m in Q4FY20 and A$3m for Q1FY2021) demonstrating the robust growth in the business.