Pink Sheets: WEESF
EDMONTON, June 9 /CNW/ - Wavefront Energy and Environmental Services Inc.
("Wavefront"), a world leader in fluid injection technology for
improved/enhanced oil recovery and groundwater restoration is pleased to
announce that a major Canadian conventional oil and natural gas energy trust
will install four Powerwave systems in a mature waterflood development. Based
on production improvements, the client envisions full-field implementation of
approximately one hundred injection wells. The implementation schedule for the
initial four Powerwave systems is being determined.
Wavefront President and CEO Brett Davidson stated, "The goal of this
Powerwave program is to improve "sweep efficiency", which is the ability of
our technology to provide more uniform distribution of the injected water to
mobilize stranded oil. In mature waterfloods much of the recoverable oil is
produced at very high water fractions (i.e. about 90% water per barrel of
fluid). Lowering the water fraction hence increasing the oil fraction not only
improves oil productivity rates but also contributes to changing the rate of
production decline, extending field life and increasing proven reserves.
Previously reported results for an on-going project in Alberta demonstrate
Powerwave's ability to mobilize stranded oil with an increase in oil fraction
from 3.0% to 4.6%. As disclosed in Wavefront's May 20, 2008 news release, the
positive change in oil fraction equates to an increase in oil recovery of
57 barrels of oil per day. With positive results seen elsewhere Wavefront is
very optimistic of field-wide expansion in this new project."
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" (signed)
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,