Pink Sheets: WEESF
EDMONTON, March 17 /CNW/ - Wavefront Energy and Environmental Services
Inc. ("Wavefront"), a leader in technology development and implementation for
improved oil recovery and optimized groundwater remediation is pleased to
announce that the Powerwave program which has been on-going since October 2007
with an international oil producer in Alberta has entered the commercial phase
and will be expanded by multiple systems. For reasons of confidentiality
production results, customer name, and oil field location can not be released.
Wavefront President and CEO Brett Davidson stated, "This is a notable
accomplishment for Wavefront and further validates its game changing
technology, Powerwave. Results from the current installations substantiate
Powerwave's impact on the production of stranded oil and we are very gratified
to see the existing program being expanded by multiple systems. Extension of
the Powerwave program by the client stems from efficiencies the process has
generated to date. The implementation schedule for the commercial phase of the
program is being determined for the oil field that currently has over two
hundred water injection wells."
Mr. Davidson further commented, "Wavefront continues to amass a growing
list of companies adapting Powerwave to access stranded oil to positively
affect natural production decline, extend field life, and increase ultimate
oil recovery from an oil field. We anticipate additional announcements on
Powerwave implementation, and adaptation in the near term."
About Wavefront Energy and Environmental Services Inc.
Wavefront is a technology-based company with a focused, strategic plan to
leverage the value of our intellectual property in order to maximize oil
production recovery operations, as well as provide additional solutions for
ON BEHALF OF THE BOARD OF DIRECTORS
WAVEFRONT ENERGY AND ENVIRONMENTAL SERVICES INC.
"D. Brad Paterson"
D. Brad Paterson, CFO & Director
Cautionary Disclaimer - Forward Looking Statements
Certain statements contained herein regarding Wavefront and its
operations constitute "forward-looking statements" within the meaning of
Canadian securities laws and the United States Private Securities Litigation
Reform Act of 1995. All statements that are not historical facts, including
without limitation statements regarding future estimates, plans, objectives,
assumptions or expectations or future performance, are "forward-looking
statements". In some cases, forward-looking statements can be identified by
terminology such as "may", "will", "should", "expect", "plan", "anticipate",
"believe", "estimate", "predict", "potential", "continue" or the negative of
these terms or other comparable terminology. We caution that such
"forward-looking statements" involve known and unknown risks and uncertainties
that could cause actual results and future events to differ materially from
those anticipated in such statements. Such factors include fluctuations in the
acceptance rates of Wavefront's Powerwave and Primawave Processes, demand for
products and services, fluctuations in the market for oil and gas related
products and services, the ability of Wavefront to attract and maintain key
personnel, technology changes, global political and economic conditions, and
other factors that were described in further detail in Wavefront's continuous
disclosure filings, available on SEDAR at www.sedar.com. Wavefront expressly
disclaims any obligation to up-date any "forward-looking statements", other
than as required by law.
THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES THE CONTENTS OF
THIS RELEASE WHICH WAS PREPARED SOLELY AT THE DISCRETION OF MANAGEMENT
For further information:
For further information: D. Brad Paterson, CFO, (780) 486-2222 x224 Tel,