6-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934

For the month of May 2009

Commission File Number:  000-24027

NXT Energy Solutions Inc.

(Translation of registrant's name into English)

1400, 505-3rd Street S.W.

Calgary, Alberta  T2P 3E6

Canada
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F  X     Form 40-F _____

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  

Yes _____ No     X       

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  

Yes _____ No    X     

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes _____ No    X     

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):

The Issuer is filing material documents not previously filed.

TABLE OF CONTENTS

The following documents are filed as part of this Form 6-K:

Exhibit	Description
32.1	CEO Certification
32.2	CFO Certification
99.1	Period ended March 31, 2009 Financial Statements
99.2	Management's Discussion & Analysis

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date:  May 27, 2009

NXT Energy Solutions Inc.

By:  

/s/ Ken Rogers

Name:

Ken Rogers

Title:

Vice-President Finance and Chief Financial Officer

EX-32.1

Form 52-109FV2

CERTIFICATION OF INTERIM FILINGS

VENTURE ISSUER BASIC CERTIFICATE

I, George Liszicasz, Chief Executive Officer, NXT Energy Solutions Inc, certify the following:

1.

Review: I have reviewed the interim financial statements and interim MD&A (together, the “interim filings”) of NXT Energy Solutions Inc. (the “issuer”) for the interim period ended March 31, 2009.

2.

No misrepresentations: Based on my knowledge, having exercised reasonable diligence, the interim filings do not contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it was made, for the period covered by the interim filings.

3.

Fair presentation: Based on my knowledge, having exercised reasonable diligence, the interim financial statements together with the other financial information included in the interim filings fairly present in all material respects the financial condition, results of operations and cash flows of the issuer, as of the date of and for the periods presented in the interim filings.

Date: May 27, 2009

  Signed “George Liszicasz”

George Liszicasz

Chief Executive Officer

NOTE TO READER

In contrast to the certificate required for non-venture issuers under National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings (NI 52-109), this Venture Issuer Basic Certificate does not include representations relating to the establishment and maintenance of disclosure controls and procedures (DC&P) and internal control over financial reporting (ICFR), as defined in NI 52-109. In particular, the certifying officers filing this certificate are not making any representations relating to the establishment and maintenance of

i)

controls and other procedures designed to provide reasonable assurance that information required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation; and

ii)

a process to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with the issuer’s GAAP.

The issuer’s certifying officers are responsible for ensuring that processes are in place to provide them with sufficient knowledge to support the representations they are making in this certificate.  Investors should be aware that inherent limitations on the ability of certifying officers of a venture issuer to design and implement on a cost effective basis DC&P and ICFR as defined in NI 52-109 may result in additional risks to the quality, reliability, transparency and timeliness of interim and annual filings and other reports provided under securities legislation.

EX-32.2

Form 52-109FV2

CERTIFICATION OF INTERIM FILINGS

VENTURE ISSUER BASIC CERTIFICATE

I, Ken Rogers, Chief Financial Officer, NXT Energy Solutions Inc, certify the following:

1.

Review: I have reviewed the interim financial statements and interim MD&A (together, the “interim filings”) of NXT Energy Solutions Inc. (the “issuer”) for the interim period ended March 31, 2009.

2.

No misrepresentations: Based on my knowledge, having exercised reasonable diligence, the interim filings do not contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it was made, for the period covered by the interim filings.

3.

Fair presentation: Based on my knowledge, having exercised reasonable diligence, the interim financial statements together with the other financial information included in the interim filings fairly present in all material respects the financial condition, results of operations and cash flows of the issuer, as of the date of and for the periods presented in the interim filings.

Date: May 27, 2009

  Signed “Ken Rogers”

Ken Rogers

Chief Financial Officer

NOTE TO READER

In contrast to the certificate required for non-venture issuers under National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings (NI 52-109), this Venture Issuer Basic Certificate does not include representations relating to the establishment and maintenance of disclosure controls and procedures (DC&P) and internal control over financial reporting (ICFR), as defined in NI 52-109. In particular, the certifying officers filing this certificate are not making any representations relating to the establishment and maintenance of

i)

controls and other procedures designed to provide reasonable assurance that information required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation; and

ii)

a process to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with the issuer’s GAAP.

The issuer’s certifying officers are responsible for ensuring that processes are in place to provide them with sufficient knowledge to support the representations they are making in this certificate.  Investors should be aware that inherent limitations on the ability of certifying officers of a venture issuer to design and implement on a cost effective basis DC&P and ICFR as defined in NI 52-109 may result in additional risks to the quality, reliability, transparency and timeliness of interim and annual filings and other reports provided under securities legislation.

EX-99.1

NXT ENERGY SOLUTIONS INC

As at and for the three month period ended March 31, 2009

NXT ENERGY SOLUTIONS INC
Consolidated Balance Sheets
(Unaudited) (Expressed in Canadian dollars except share data)
	March 31, 2009	December 31, 2008
Assets
Current assets:
Cash and cash equivalents	`	$ 146,065
Short term investments	5,665,254	6,748,105
Accounts receivable	33,466	20,569
Prepaid expenses and other	137,595	57,159
	6,142,923	6,971,898
Oil and natural gas properties	7,315	7,315
Property and equipment, net of accumulated depreciation and amortization	619,003	621,396
	$ 6,769,241	$ 7,600,609
Liabilities and Shareholders' Equity
Current liabilities:
Trade payables	$ 343,817	$ 359,535
Other accrued liabilities [note 3]	263,889	256,624
Current portion of capital lease obligation	10,684	10,684
Current portion of asset retirement obligation [note 4]	20,000	20,000
	638,390	646,843
Long term liabilities:
Capital lease obligation	22,879	24,811
Asset retirement obligation [note 4]	29,722	28,997
	690,991	700,651
Future operations [note 1]
Subsequent events [notes 8 and 10]
Shareholders' equity:
Preferred shares:- authorized unlimited
Issued: 10,000,000	3,489,000	3,489,000
Common shares: - authorized unlimited
Issued: 30,676,796 shares as of March 31, 2009 (December 31, 2008 - 30,676,796) [note 5]	51,884,121	51,884,121
Contributed capital	3,758,502	3,519,072
Deficit	(53,764,308)	(52,703,170)
Accumulated other comprehensive income	710,935	710,935
	6,078,250	6,899,958
	$ 6,769,241	$ 7,600,609

Signed "George Liszicasz"
  Director Signed "Charles Selby"
  Director

The accompanying notes to these consolidated financial statements are
an integral part of these consolidated balance sheets.

2

NXT ENERGY SOLUTIONS INC
Consolidated Statements of Loss and Comprehensive Loss
(Unaudited) (Expressed in Canadian dollars except share data)
	For the three months ended March 31,
		2009	2008
Revenue
Oil and natural gas revenue	$ 228		$ 6,583
Expense
Survey cost		12,831	-
Oil and natural gas operating expenses		1,395	550
Administrative		1,035,939	780,943
Depletion of oil and natural gas properties		-	2,852
Amortization and depreciation		39,823	37,304
		1,089,988	821,649
		(1,089,760)	(815,066)
Other expense (income)
Interest income		(44,319)	(71,108)
Loss (gain) on foreign exchange		12,382	(32,081)
Gain on sale of property		(1,016)	-
Abandonment of oil and natural gas properties [note 4]		4,331	-
		(28,622)	(103,189)
Net loss and comprehensive loss	$ (1,061,138)		$ (711,877)
Net loss per share unit [note 5]
Basic and diluted	$ (0.03)		$ (0.02)

     The accompanying notes to these consolidated financial statements are an integral part of these consolidated statements of loss and comprehensive loss.

3

NXT ENERGY SOLUTIONS INC
Consolidated Statements of Cash Flow
(Unaudited) (Expressed in Canadian dollars)
		For the three months ended March 31,
		2009	2008
Operating activities
Net loss	$ (1,061,138)		$ (711,877)
Amortization and depreciation		39,823	37,304
Depletion of oil and natural gas properties		-	2,852
Abandonment of oil and natural gas properties		4,331	-
Stock-based compensation expense		239,430	136,884
Changes in non-cash working capital
Accounts receivable		(12,897)	(518,714)
Work-in-progress		-	(142,281)
Prepaid expenses		(80,436)	(29,908)
Unearned revenue		-	1,220,942
Trade payables		(15,718)	(163,909)
Other accrued liabilities		7,265	(50,615)
Asset retirement obligations paid		(3,606)	-
Net cash used by operating activities		(882,946)	(219,322)
Financing activities
Repayment of capital lease		(1,932)	(1,774)
Repayment of registration penalty		-	(178,540)
Issue of common shares, net of issuance costs		-	83,601
Net cash used by financing activities		(1,932)	(96,713)
Investing activities
Invested in other property and equipment		(37,430)	(21,601)
Invested in oil and natural gas properties		-	(1,509)
Decrease (increase) in short term investments		1,082,851	(513,170)
Net cash generated (used) by investing		1,045,421	(536,280)
Net cash inflow (outflow)		160,543	(852,315)
Cash and cash equivalents, beginning of period		146,065	1,988,296
Cash and cash equivalents, end of period	$ 306,608		$ 1,135,981
Supplemental cash flow information
Cash interest paid	$ 740		$ 896

The accompanying notes to these consolidated financial statements
are an integral part of these consolidated statements of cash flow.

4

NXT ENERGY SOLUTIONS INC
Consolidated Statements of Shareholders' Equity
(Unaudited) (Expressed in Canadian dollars except share data)
	For the three months ended		For the year ended
		March 31, 2009	December 31, 2008
Common Shares
Balance at the beginning of the period	$ 51,884,121		$ 49,789,695
Issued upon exercise of stock options and warrants		-	2,050,030
Shares issued for services		-	44,396
Balance at end of the period		51,884,121	51,884,121
Preferred Shares
Balance at the beginning and end of the period		3,489,000	3,489,000
Contributed Capital
Balance at the beginning of the period		3,519,072	3,416,207
Fair market value of options and warrants		239,430	653,042
Contributed capital transferred to shares pursuant to exercise of options
and warrants		-	(550,177)
Balance at end of the period		3,758,502	3,519,072
Deficit
Balance at the beginning of the period		(52,703,170)	(51,561,879)
Net loss for the period		(1,061,138)	(1,141,291)
Balance at end of the period		(53,764,308)	(52,703,170)
Accumulated Other Comprehensive Income
Balance at the beginning and end of the period		710,935	710,935
Total Shareholders' Equity at end of period	$ 6,078,250		$ 6,899,958

     The accompanying notes to the consolidated financial statements are an integral part of the condensed consolidated statements of shareholder's equity.

5

NXT ENERGY SOLUTIONS INC
Notes to the Consolidated Financial Statements
For the three month period ended and as at March 31, 2009
(Unaudited) (Expressed in Canadian dollars unless otherwise stated)

1. Organization and Ability to Continue Operations

NXT Energy Solutions Inc ("we", "company" or "NXT" ) was incorporated under the laws of the State of Nevada on September 27, 1994. NXT was continued from the State of Nevada to the Province of Alberta, Canada on October 24, 2003. The shareholders voted on and approved this change which moved the jurisdiction of incorporation from the U.S. to Canada. In November 2007 at our Annual General Meeting the shareholders voted on and approved changing our name. Effective September 22, 2008 our name changed from Energy Exploration Technologies Inc to NXT Energy Solutions Inc.

We own a proprietary technology called Stress Field Detection (“SFD®”). SFD® is a remote sensing airborne survey system that is designed to identify areas with oil and natural gas reserve potential. This technology was acquired from NXT's current CEO and President on December 31, 2005 following a ten year period wherein the company controlled the technology through a series of licensing agreements. For the ten year period prior to 2006 the company had engaged in extensive activities that were effective in developing the technology to a stage wherein SFD® was both technically ready and had the required industry validation to embark on the commercial phase of the company. These early activities included conducting SFD® surveys for oil and gas industry partners on a cost recovery basis and participating as a joint venture partner in SFD® identified exploration wells. By December 31, 2005 the company had accumulated approximately $47.6 million of deficits in conducting these activities.

The company is in the early stage of commercializing its SFD® technology. Its ability to generate cash flow from operations will depend on its ability to service its existing clients and develop new clients for its SFD® services. Management recognizes that this early commercialization phase can last for several years. Consistent with this early stage of commercialization the company has a significant economic dependency on a few clients. While the company is in this early stage of commercialization, the company’s financial position is materially impacted by the loss or gain of any one client. The company's ability to continue operations is dependent on attracting future customers through demonstrating the value that the company can bring to their exploration activities.

For the period ended March 31, 2009 the company had no SFD® survey revenue, had a net loss of $1,061,138 and used $882,946 of cash in operating activities.

The company anticipates generating both net income and cash from operations in future years with its business model; however this outcome cannot be predicted with certainty. The company has an extensive prior history of generating net losses. These consolidated financial statements do not include any adjustments to amounts and classifications of assets and liabilities that may be necessary should we be unable to generate sufficient net income and cash from operations in future years in order to continue as a going concern.

2. Significant Accounting Policies

Basis of Presentation

These interim consolidated financial statements have been prepared by management in accordance with generally accepted accounting principles of the United States of America in accordance with the same accounting policies and methods used in preparing the consolidated financial statements for the fiscal year ended December 31, 2008. These interim statements should be read in conjunction with the 2008 annual consolidated financial statements as they contain disclosure which is supplemental to our annual consolidated financial statements and accordingly certain disclosure normally required for annual financial statements has been condensed or omitted.

SFAS No. 141(R) replaces SFAS No. 141, "Business Combinations" . SFAS No. 141(R) retains the fundamental requirements of SFAS No. 141 that the acquisition method of accounting be used for all business combinations and for an acquirer to be identified for each business combination, with the objective of improving the relevance and comparability of the information that a reporting entity provides in its financial reports about a business combination and its effects. SFAS No. 160 clarifies the classification of non-controlling interests in consolidated statements of financial position and the accounting for and reporting of transactions between the reporting entity and holders of such non-controlling interests. The requirements of these standards will be applied to business combinations subsequent to December 31, 2008.

6

SFAS No. 161, which amends SFAS No. 133, "Accounting for Derivative Instruments and Hedging Activities" , requires companies with derivative instruments to disclose information about how and why a company uses derivative instruments, how derivative instruments and related hedged items are accounted for under SFAS 133, and how derivative instruments and related hedged items affect a company’s financial position, financial performance, and cash flows. The required disclosures include the fair value of derivative instruments and their gains or losses in tabular format, information about credit-risk-related contingent features in derivative agreements, counterparty credit risk, and the company’s strategies and objectives for using derivative instruments. SFAS 161 is effective prospectively for periods beginning on or after November 15, 2008. SFAS No. 161 does not impact our financial statements as we do not have any derivative instruments or hedging activities.

Consolidation

We have consolidated the accounts of our wholly owned subsidiaries in the course of preparing these consolidated financial statements. All significant inter-company balances and transactions amongst NXT and its subsidiaries have been eliminated and are therefore not reflected in these consolidated financial statements. On December 22, 2008 the company's fully owned Canadian subsidiaries, NXT Energy Canada Inc. and NXT Aero Canada Inc., were dissolved and all assets and liabilities were wound up into the company. As of March 31, 2009 and December 31, 2008 the company consisted of NXT Energy Solutions Inc. and two inactive subsidiaries in the United States.

3. Accrued Liabilities
	For the three months ended	For the year ended
	March 31, 2009	December 31, 2008
Legal and accounting	$ 229,570	$ 198,570
Consultant fees	34,319	37,500
Other	-	20,554
	$ 263,889	$ 256,624
4. Asset Retirement Obligation
	For the three months ended	For the year ended
The following table reconciles the asset retirement obligations:	March 31, 2009	December 31, 2008
Asset retirement obligation, beginning of period	$ 48,997	$ -
Additions in the year	3,606	208,307
Accretion	725	2,636
Costs incurred	(3,606)	(161,946)
Asset retirement obligation	49,722	48,997
Current portion of asset retirement obligation	20,000	20,000
Asset retirement obligation, end of period	$ 29,722	$ 28,997
5. Common Shares
The following table provides common shares and their value:
	Common Shares
	Shares	Amount
As at March 31, 2009 and December 31, 2008	30,676,796	$ 51,884,121
The company has an unlimited number of shares authorized.

7

Reconciliation of Earnings per Share Calculations
For the three months ended March 31, 2009
		Weighted Average
	Net Loss	Shares Outstanding	Per Unit
Basic and diluted	$ (1,061,138)	30,676,796	$ (0.03)
For the three months ended March 31, 2008
		Weighted Average
	Net Loss	Shares Outstanding	Per Unit
Basic and diluted	$ (711,877)	29,787,218	$ (0.02)

All options, warrants and preferred shares were excluded from the diluted earnings per share calculation for the periods ended March 31, 2009 and 2008 as they were antidilutive.

6. Employee, Directors and Contractor Options

We have summarized below all outstanding options under the Plans as of March 31, 2009:

		Weighted average		Weighted average
		exercise price of		exercise price of
Range of exercise prices in U.S. dollars	Outstanding options	outstanding options	Options exercisable	exercisable options
Under $0.50	150,000	$ 0.40	-	$ -
$0.50 - $0.99	341,741	$ 0.73	335,074	$ 0.71
$1.00 - $1.99	1,451,463	$ 1.51	998,796	$ 1.43
$2.00 - $3.99	177,000	$ 2.35	125,667	$ 2.23
Over $4.00	300,000	$ 4.90	100,000	$ 4.90
	2,420,204	$ 1.81	1,559,537	$ 1.56
				Weighted average
				remaining contractual
Range of exercise prices in U.S. dollars				life (years)
Under $0.50				4.8
$0.50 - $0.99				1.7
$1.00 - $1.99				2.5
$2.00 - $3.99				1.3
Over $4.00				3.7
				2.6
	For the three months ended March 31, 2009		For the year ended December 31, 2008
		Weighted average		Weighted average
Exercise prices in U. S. dollars	# of options	exercise price	# of options	exercise price
Outstanding at beginning of period	2,270,204	$ 1.90	2,348,371	$ 1.72
Granted	150,000	$ 0.40	403,500	$ 2.05
Forfeited	-	$ -	(205,000)	$ 2.13
Exercised	-	$ -	(276,667)	$ 0.44
Options outstanding as at end of period	2,420,204	$ 1.81	2,270,204	$ 1.90
Exercisable as at end of period	1,559,537	$ 1.56	1,176,370	$ 1.56

Unvested options outstanding as of March 31, 2009 and December 31, 2008 generally vest over the three year period starting from the date of grant dependant on the continued provision of services. The options vest one-third at the end of each of the first three years following the grant date. Options generally lapse, if unexercised, five years from the date of vesting.

On January 14, 2009, 150,000 options were issued to an officer of the company at a strike price of $0.40 and on April 14, 2009 an additional 100,000 options were issued in aggregate to two directors of the company at a strike price of $0.80.

8

Compensation Expense Associated with Grant of Options

The grant date fair value is calculated in U.S. dollars using the Black Scholes option valuation model utilizing the following weighted average assumptions:

	For the three months ended
	March 31, 2009	March 31, 2008
Expected dividends paid per common share	Nil	Nil
Expected life (years)	3	3
Expected volatility in the price of common shares (%)	102%	84%
Risk free interest rate (%)	2%	4%
Weighted average grant date fair market value per share in U.S. dollars	$ 0.40	$ 1.85
Intrinsic value of options exercised in U.S. dollars	$ -	$ 2.46

As of March 31, 2009 and 2008 there was $1,037,497 and $1,160,183 respectively of total unrecognized compensation cost related to non-vested share-based compensation awards granted under the stock option plans. This cost will be recognized over the remaining vesting period.

7. Warrants 

	For the three months ended March 31, 2009		For the year ended December 31, 2008
		Weighted average		Weighted average
	# of warrants	exercise price	# of warrants	exercise price
Outstanding as at beginning of the period	150,000	$ 2.20 Cdn	2,776,560	$ 1.96 U.S.
Exercised	-	-	(702,543)	$ 2.00 U.S.
Expired	-	-	(1,924,017)	-
Outstanding as at end of the period	150,000	$ 2.20 Cdn	150,000	$ 2.20 Cdn
	For the three months ended March 31, 2009		As at December 31, 2008
		Weighted average		Weighted average
	Outstanding	remaining contractual		remaining contractual life
Exercise prices	warrants	life (years)	Outstanding warrants	(years)
$2.20 Cdn	150,000	0.75	150,000	1.0
	150,000	0.75	150,000	1.0

The company has historically issued warrants in U.S. and Canadian dollars. At March 31, 2009, all warrants outstanding are exercisable in Canadian dollars.

8. Commitments and Contingencies

On March 18, 2003 we were served a Statement of Claim naming NXT and others as defendants. The plaintiffs allege that the defendants were negligent and in breach of a ferry flight contract under which an aircraft was to be delivered to Greece. The aircraft crashed enroute. The Plaintiffs are seeking, among other things, damages in the amount of Cdn. $450,000 or loss and damages to the aircraft and cargo, and damages in respect to search and rescue expenses, salvage, storage, transportation expenses and pollution and contamination expenses. NXT was not party to the Ferry Flight Contract. The outcome of the claim is not determinable. Management believes the claim is without merit and we intend to defend ourselves against the claim.

The company has an office lease until October 31, 2012 which requires minimum monthly lease payments of $29,483.

On May 8, 2009 the company executed an aircraft charter agreement with a Calgary based aircraft charter company to provide aircraft, crew and maintenance services for SFD® survey operations utilizing a fleet of Cessna Citation 560 series jet aircraft. NXT’s minimum aircraft charter commitment under this agreement is Cdn. $396,250 prior to the aniversary date of the agreement.

9

9. Comparative Figures

Certain amounts in the consolidated financial statements have been reclassified in the comparative periods to conform to the current period's presentation.

10. Subsequent Event

On April 13, 2009 the company executed a contract with a Colombian subsidiary of a Canadian oil and gas company to conduct a U.S. $2,300,000 SFD® survey in Colombia. The survey commenced in the second quarter of 2009.

10

EX-99.2

NXT ENERGY SOLUTIONS INC
As at and for the three months ended March  31, 2009
MANAGEMENT'S DISCUSSIONAND ANALYSIS
As used in this MD&A, the terms "we", "us", "our", "NXT" and "company" mean NXT Energy Solutions Inc.
Our reporting currency is the Canadian dollar. All references to "dollars" in this MD&A refer to Canadian or Cdn. dollars unless specific reference is made to United States or U.S. dollars.
Forward-Looking Statements
Certain statements in this document may constitute "forward-looking statements". These forward-looking statements can generally be identified as such because of the context of the statements including words such as "believes", "anticipates", "expects", "plans", "estimates" or words of a similar nature.
These forward-looking statements are based on current expectations and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Except as required by law, the company assumes no obligation to update forward-looking statements should circumstances or the company's estimates or opinions change.
Description of Business
NXT is a Calgary based technology-driven company providing wide-area airborne exploration survey services for the oil and gas industry. The company utilizes its proprietary Stress Field Detection ("SFD®") survey system to offer its clients a unique survey service that rapidly identifies areas with oil and natural gas potential. As an airborne survey system, SFD® is environmentally non-invasive and unaffected by ground security issues or difficult terrain. Additionally, surveys can generally be conducted year round both onshore and offshore. NXT offers its services world-wide providing its clients an efficient, accurate and reliable method to explore for hydrocarbons. SFD® is a registered trademark of NXT Energy Solutions Inc.
On September 22, 2008 the company changed its name from Energy Exploration Technologies Inc to NXT Energy Solutions Inc. This change was approved by shareholders during the company*s November 29, 2007 Annual General Meeting. The name change was implemented to better reflect our principal activities and now aligns with the NXT trademark. The trading symbol for the TSX-V (SFD.V) remained unchanged as does our trading symbol (EFW) for the Frankfurt exchange. In accordance with regulations, our NASDAQ OTCBB symbol was changed to NSFDF.OB (from the old symbol ENXTF.OB).
Overall Performance
Discussion of business and impact of recent worldwide financial crisis
Since the mid-point of 2008, NXT has been affected by adverse economic conditions that have diminished the demand for our services within the western Canadian sedimentary basin; the basin wherein all of NXT*s revenue had been derived since 2006. As a consequence, NXT had no revenue in the fourth quarter of 2008 or in the first quarter of 2009.
Despite this lack of revenue we believe that we are in an enviable position when compared with our peers. We have the cash reserves to support our 2009 business plan, a superior survey system that offers significant advantages to our clients, a profitable business model as proven in 2007, an experienced management team and now, success in being awarded an SFD® survey contract in an important international market.
A key advantage of our position today as compared to just three years ago is that we can build upon the commercial and technical successes from our 2006 through 2008 Canadian surveys. These surveys provide invaluable case studies, client endorsements and industry recognition that are required to broaden the adoption of our services into international markets.
In 2009 we intend, through the implementation of new marketing, sales and technical strategies, to develop an international revenue base. To meet this objective we have expanded our geological and geophysical technical team and created a sales and marketing organization. Toward the last half of 2008 we began attending international oil and gas trade shows and conferences to both assess the attractiveness of alternative international markets as well as to demonstrate our SFD® technology to an international audience.
Core to our international strategy is discipline and focus. The world market is vast and our resources limited. Spreading resources too thin by attempting to concurrently pursue multiple markets throughout the world only invites failure. Success in any market depends upon dedicating enough time and resources to gain detailed knowledge of the marketplace, the industry players and their unique problems and challenges. This knowledge is then used to develop a complete SFD® product solution tailored for a market*s needs.
A complete SFD® market solution requires a full suite of services to assist a client understand, accept and then apply the SFD® technology appropriately to achieve a tangible operational advantage.
*	Client understanding requires technical reports and compelling geosciences explanations.
*	Client acceptance also depends upon the credibility of NXT and its professional staff plus the credibility of the references received from other users of the service within their region.
*	A successful application of the technology requires choosing the right application plus strong effective collaboration between NXT personnel and the client.
We are committed to the creation of these complete market solutions to gain industry acceptance of our technology in an international market through a focused market-specific effort. Market success, at least initially, depends upon making a very deliberate strategic choice to focus our resources and develop a strong track-record in one international region.
Our evaluation of potential markets to focus our international efforts has identified Colombia as offering several advantages. Colombia has evolved quickly to become one of the more attractive oil and gas exploration opportunities in the world. The Colombia government has undertaken effective measures to implement fair and predictable fiscal terms and energy policies to attract foreign investment. These measures, coupled with greatly improved security and an abundance of underexplored yet prospective basins, has resulted in a large increase in 2008 exploration activities over prior years; this trend is projected to continue throughout 2009. In 2010 ANH, the Colombian national hydrocarbon agency, proposes to release in excess of 300,000 square kilometers for open round bidding. Our SFD® survey system is well suited to meet the technical, logistical and financial challenges associated with surveying these large under-e xplored basins of Colombia.
Our interest in Colombia was verified with NXT being awarded a contract to provide U.S. $2.3 million of SFD® survey services in Colombia for a Canadian-based international oil and gas company. In May of 2009 we commenced operation in Colombia and anticipate delivering the initial survey results to the client prior to the end of the second quarter of 2009.
We are encouraged by our early success in obtaining this preliminary contract in Colombia. We intend to demonstrate the effectiveness of our SFD® survey system with our initial client, continue to build complete market solutions, build solid relationships and industry credibility in Colombia and then build on this success to attract additional clients within the country and then the region.
Results of Operations
The company reported a loss of $1,061,138 for the period ended March 31, 2009.
Revenue
				For the three months ended March 31,
				2009	2008
	SFD® survey revenue			$ -	$ -
	Oil & natural gas revenue			228	6,583
	Total revenue			$ 22,800	$ 658,300
SFD® Survey Revenue
In the three months ended March 31, 2009 and 2008 the company had nil survey revenue.
Oil & Natural Gas Revenue
Effective April 1, 2008, the company sold its 22.5% working interest in a well at Entice, Alberta for net proceeds of $47,400. Following the effective date, the company ceased to hold working interests in any producing wells. The company's interests in oil and gas properties consist of undeveloped land and gross overriding royalty ("Royalty") interests.
Currently, the company holds Royalty interests in two producing wells in Alberta and an entitlement to Royalties on future production on much of the land where we have conducted surveys for clients. We are optimistic on generating additional Royalty income from these surveyed areas as one of our clients has announced anticipated production on wells drilled on SFD® prospects and is actively pursuing exploration programs on other surveyed areas. There is no certainty Royalties will be earned from these entitlements.
				For the three months ended March 31,
				2009	2008
	Gross overriding royalty rights (GORR)			$ -	$ 113,400
	Oil and natural gas revenue; net of royalty expense			228	5,449
	Revenue; net of royalty expense			$ 22,800	$ 658,300
Income from Operations
We had an operating loss of $1,089,760 in Q1 2009 (Q1 2008 - $815,066) representing an overall increase in loss of $274,694 for the period.
Expenses
				For the three months ended March 31,
				2009	2008
	SFD® survey cost			$ 1,283,100	$ -
	Oil and natural gas operating expense			1,395	550
	Administrative			1,035,939	780,943
	Depletion of oil and natural gas properties			-	2,852
	Amortization and depreciation			39,823	37,304
				$ 108,998,800	$ 82,164,900
Expenses - for the three months ended March 31, 2009 and 2008
*	The administrative cost increase of $254,996 in the first three months of 2009 in comparison to the same period in 2008 is largely due to hiring of additional staff, increased stock-based compensation expense, increase in rent from office expansion and travel costs for industry conferences.
*	The company sold the last of its working interest in wells in 2008 and therefore will no longer have depletion of oil and natural gas properties.
Other Expense (Income)
				For the three months ended March 31,
				2009	2008
Interest income				(44,319)	(71,108)
Loss (gain) on foreign exchange				12,382	(32,081)
Gain on sale of property				(1,016)	-
Abandonment				4,331	-
Other expense (income)				$ (2,862,200)	$ (10,318,900)
*	Interest income is offset by interest expense resulting in $44,319 net interest income in Q1 2009 ($71,108 - Q1 2008). The decrease in income is due to less monies held in short term investments in 2009.
*	The company sold its sole vehicle in the first quarter of 2009 and realized net income of $1,016.
Loss (Gain) on Foreign Exchange
Loss or gain on foreign exchange is caused by changes in the relative exchange values of the U.S. and Canadian dollars. For example when the Canadian dollar trades higher relative to the U.S. dollar, cash held in U.S. dollars will decline in value and this decline will be reflected as a foreign exchange loss in the period.
The equivalent Canadian dollars for a U.S. dollar changed from $1.2156 on January 1, 2009 to $1.2613 as at March 31, 2009 resulting in a first quarter loss of $12,382 in 2009; whereas the change was from $0.9928 as at January 1, 2008 to $1.0265 as at March 31, 2008 resulting in a first quarter 2008 gain of $32,081.
Summary of Quarterly Results
		Mar 31, 2009	Dec 31, 2008	Sep 30, 2008	Jun 30, 2008
Revenue		$ 22,800	$ 615,300	$ 119,325,000	$ 174,907,600
Net income (loss) from continuing operations		(1,061,138)	(945,394)	(290,639)	806,619
Basic earnings (loss) per share		(0.03)	(0.04)	(0.01)	0.03
Diluted earnings (loss) per share		$ (0.03)	$ (0.04)	$ (0.01)	$ 0.02
		Mar 31, 2008	Dec 31, 2007	Sep 30, 2007	Jun 30, 2007
Revenue		$ 658,300	$ 235,049,200	$ 50,718,400	$ 277,280,700
Net income (loss) from continuing operations		(711,877)	208,307	(642,075)	1,665,080
Basic earnings (loss) per share		(0.02)	0.01	(0.02)	0.06
Diluted earnings (loss) per share		$ (0.02)	$ 0.01	$ (0.02)	$ 0.05
The company is in the early stage of commercializing its SFD® technology. Its ability to generate cash flow from operations will depend on its ability to service its existing clients and develop new clients for its SFD® services. Management recognizes that this early commercialization phase can last for several years. Consistent with this early stage of commercialization, the company has a significant economic dependency on a few clients. In 2006, we had two clients who accounted equally for 100% of our survey revenue. In 2007, the company's largest client accounted for 81% of its survey revenue and three clients accounted for 100% of survey revenue. For the year ended December 31, 2008 we had survey revenue of $2,944,470 from two existing clients. While the company is in this early stage of commercialization, the company*s financial position is materially impacted by the loss or gain of any one client. The comp any's ability to continue operations is dependent on attracting future customers through demonstrating the value that the company can bring to their exploration activities.
In comparing Q1 2009 to Q4 2008; the increased net loss in Q1 2009 over Q4 2008 of $115,744 is due to additional salary costs incurred with the hiring of a COO to augment our senior management staff, fees for a geosciences consultant, higher stock-based compensation costs and costs incurred for the NAPE conference in Houston, Texas.
In comparing Q4 2008 to Q3 2008; the company recognized nil in survey revenue in Q4 ($1,200,000 in Q3 from one completed survey contract) and recognized $207,457 in stock-based compensation expense ($144,843 - Q3).
In comparing Q3 2008 to Q2 2008; the company recognized $1,200,000 in SFD® survey revenue for one completed survey contract in the third quarter ($1,744,470 in Q2) resulting in net income. We settled a Statement of Claim from 2002 for $90,000 wherein the plaintiff was a past president and director. Management conducted a review in 2008 of all wells for which NXT had a historical participation and determined a net 1.1 (8 actual) wells drilled from 2000 through 2004 that still require abandonment. The asset retirement obligation is based upon estimates of the costs to remediate, reclaim and abandon the wells and the estimated timing of the costs to be incurred. The abandonment expense recorded in Q3 2008 is $28,338. In addition, the company recorded an obligation of $160,148 in respect to a well drilled in 2000 and abandoned in 2008 for which no previous abandonment obligation had been anticipated.
In comparing Q2 2008 to Q1 2008; the company recognized $1,744,470 in SFD® survey revenue for one completed survey contract in the second quarter (nil in Q1) resulting in net income. We sold our producing well for net proceeds of $47,400 which generated a gain on disposal of $20,325.
In comparing Q1 2008 to Q4 2007; there is no survey revenue recognized in the first quarter of 2008 (Q4 2007 - $2,344,812 for two surveys).  $1,220,940 of invoiced services was recorded as unearned revenue at March 31, 2008 and was recognized as revenue in Q2 2008 in addition to the final invoice of $523,530 that was billed in Q2 2008.
In comparing Q4 2007 to Q3 2007; revenue of $2,344,812 for the completion of two SFD® survey contracts was recognized in the fourth quarter of 2007 (Q3 - $500,000 from one contract) resulting in a net income. Survey costs were correspondingly higher in the fourth quarter ($439,282) than in the third quarter ($27,317). In addition $174,500 in bonuses were paid out in Q4 (Q3 - nil).
In comparing Q3 2007 to Q2 2007; revenue of $500,000 for the completion of one SFD® survey contract was recognized in the third quarter of 2007 while Q2 had survey revenue of $2,763,620 from two contracts. The administrative cost increases in the third quarter over the second quarter of $160,600 are due to increases in stock based compensation plus increased accruals in interim audit and review fees.  As well, other expenses increased by U.S. $193,234 on unrealized exchange losses on U.S. denominated cash and short term investments that was partially offset by exchange gains related on the accrued U.S. dollar convertible debentures registration penalty.
Liquidity and Capital Resources
The company's cash position at March 31, 2009 continues to be healthy. Our cash and equivalents and short term investments held on account as of May 25, 2009 is $5,240,649. Pursuant to the terms of the SFD® contract executed, we anticipate receiving U.S. $1 million dollars prior to the end of June with the balance of U.S. $1.3 million expected to be received in the third quarter of 2009.
With cash and short term investments and the anticipated proceeds from the U.S. $2.3 million contract, we forecast having the required cash to operate for up to two years without any additional sources of cash. However, our ability to continue as a going concern will ultimately be dependent upon our ability to sustain positive cash flow from operations and/or obtain additional financing. The outcome of these matters cannot be predicted with certainty at this time.
The following table summarizes the change in cash flow for the three months ended March 31, 2009 and 2008:
				For the three months ended March 31,
				2009	2008
	Cash generated (used) in operating activities			$ (88,294,600)	$ (21,932,200)
	Cash used by financing activities			(1,932)	(96,713)
	Cash generated (used) in investing activities			1,045,421	(536,280)
				$ 16,054,300	$ (85,231,500)
Operating Activities
Q1 2009 - the $882,946 cash balance used in operating activities reflects our net loss of $1,061,138 adjusted for 283,584 of non-cash or non-operating deductions and a $101,786 net decrease in  non-cash working capital.
Investing Activities
Q1 2009 - we decreased our short term investments by $1,082,851; the primary use of cash was for ongoing day to day operating expenses. We used $37,430 for other property and equipment.
Contractual Commitments
The company has an office lease until October 31, 2012 which requires minimum monthly lease payments of $29,483.
On May 8, 2009 the company executed an aircraft charter agreement with a Calgary based aircraft charter company to provide aircraft, crew and maintenance services for SFD® survey operations utilizing a fleet of Cessna Citation 560 series jet aircraft. NXT*s minimum aircraft charter commitment under this agreement is Cdn. $396,250 prior to the aniversary date of the agreement.
Transactions with Related Parties
150,000 incentive options were issued in the first quarter of 2009 to an officer of the company and 100,000 options were issued in the second quarter of 2009 to two directors of the company.
Additional Disclosures
Outstanding share data
As at May 25,
Outstanding securities				2009	2008
	Common shares			30,676,796	30,676,796
	Preferred shares			10,000,000	10,000,000
	Options			2,520,204	2,270,204
	Warrants			150,000	150,000
	Total			43,347,000	43,097,000
Critical Accounting Estimates
Factors are substantially unchanged; refer to annual MD&A as at December 31, 2008.
Change in Accounting Policies Including Initial Adoption
SFAS No. 141(R) replaces SFAS No. 141, "Business Combinations". SFAS No. 141(R) retains the fundamental requirements of SFAS No. 141 that the acquisition method of accounting be used for all business combinations and for an acquirer to be identified for each business combination, with the objective of improving the relevance and comparability of the information that a reporting entity provides in its financial reports about a business combination and its effects. SFAS No. 160 clarifies the classification of non-controlling interests in consolidated statements of financial position and the accounting for and reporting of transactions between the reporting entity and holders of such non-controlling interests. The requirements of these standards will be applied to business combinations subsequent to December 31, 2008.
SFAS No. 161, which amends SFAS No. 133, "Accounting for Derivative Instruments and Hedging Activities", requires companies with derivative instruments to disclose information about how and why a company uses derivative instruments, how derivative instruments and related hedged items are accounted for under SFAS 133, and how derivative instruments and related hedged items affect a company*s financial position, financial performance, and cash flows. The required disclosures include the fair value of derivative instruments and their gains or losses in tabular format, information about credit-risk-related contingent features in derivative agreements, counterparty credit risk, and the company*s strategies and objectives for using derivative instruments. SFAS 161 is effective prospectively for periods beginning on or after November 15, 2008. SFAS No. 161 does not impact our financial statements as we do not ha ve any derivative instruments or hedging activities.
We have consolidated the accounts of our wholly owned subsidiaries in the course of preparing these consolidated financial statements. All significant inter-company balances and transactions amongst NXT and its subsidiaries have been eliminated and are therefore not reflected in these consolidated financial statements. On December 22,  2008 the company's fully owned Canadian subsidiaries, NXT Energy Canada Inc. and NXT Aero Canada Inc., were dissolved and all assets and liabilities were wound up into the company. As of March 31, 2009 and December 31, 2008 the company consisted of NXT Energy Solutions Inc. and two inactive subsidiaries in the United States.
Disclosure Controls, Procedures and Internal Controls over Financial Reporting
The company's Chief Executive Officer and Chief Financial Officer (the "Responsible Officers") are responsible for establishing and maintaining disclosure controls and procedures, or causing them to be designed under their supervision, for the company to provide reasonable assurance that material information relating to the company is made known to the Responsible Officers by others within the organization, particularly during the period in which the company's quarterly and year-end financial statements and MD&A are being prepared. However, any internal control system, no matter how well conceived or operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met.
Disclosure controls and other procedures are designed to ensure that information required to be disclosed in reports filed or submitted is recorded, processed, summarized and reported within the time periods specified by the relevant security authority in either Canada or the United States of America. Disclosure controls and procedures include controls and procedures designed to ensure that information required to be disclosed in our reports is accumulated and communicated to management, including our Responsible Officers, to allow timely decisions regarding required disclosure.
As of March 31, 2009 an evaluation was carried out under the supervision of, and with the participation of management, including the Chief Executive Officer and the Chief Financial Officer, of the effectiveness of the company's disclosure controls and procedures as defined under the rules adopted by the Canadian securities regulatory authorities and by the SEC. Based on this evaluation, the Chief Executive Officer and the Chief Financial Officer concluded that the company's disclosure controls and procedures were effective as at March 31, 2009.
During the quarter ended March 31, 2009 there have been no changes in the company's internal control over financial reporting that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting.
We continue to monitor the following areas that we believe are most susceptible to control weaknesses common to many companies of our size:
*	Due to the limited number of staff at the company it is not feasible to achieve complete segregation of incompatible duties. The company has mitigated this concern in controls by adding management review procedures of the areas where segregation is an issue; and
*	The company does not retain staff with specialized and current income tax, financial reporting and complex accounting expertise. The company prepares their best estimate of complex accounting calculations and relies on reviews by management, external consultants and the audit committee for quality assurance.
Notwithstanding the foregoing, all internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective may not prevent or detect misstatements and can provide only reasonable assurance with respect to financial statement preparation and presentation. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
For additional information on NXT Energy Solutions Inc. please consult our web page at www.nxtenergy.com, or the SEDAR webpage at http://www.sedar.com.