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For Immediate Release |
TSX-V: WEE |
EDMONTON, Alta March 13, 2006/ Wavefront Energy and Environmental Services
Inc., a provider and licensor of its proprietary DeepWaveSM
(http://onthewavefront.com/dw_what-is-deep-wave.htm)
Technology for improved oil recovery and groundwater remediation is providing an
update on the complaint announced on February 14, 2006 against Applied Seismic
Research (ASR) of Plano, Texas.
ASR has filed its statement of defense and a motion for an order:
1. Dismissing Wavefront’s claims; and
2. Awarding ASR attorney fees.
Wavefront President and CEO Brett Davidson stated, “The Company and its
attorney’s are not surprised at ASR’s motion to dismiss the complaint. We are
buoyed by the admission of ASR that at least one of their patents expired due to
a failure to pay a maintenance fee to the United States Patent and Trademark
Office. The expired patent was one of a series of patents that was referenced in
ASR’s e-mail to Occidental Petroleum of Elk Hills, which led to the cancellation
of a DeepWaveSM
pilot waterflood project. The Company’s attorneys are preparing an appropriate
response to ASR’s motion and we will pursue the most appropriate course of
action for the benefit of the Company and its shareholders. Management remains
optimistic of a favorable outcome. The Company and its licensed providers
continue to make positive progress with prospective clients and joint venture
partners and we look forward to reporting on this progress in the near future.”
About Wavefront Energy and Environmental Services Inc.
Wavefront develops, markets, and licenses proprietary technologies in the energy
and environmental sectors. The Company’s patented DeepWaveSM
Technology is a proven and verified fluid flow optimization technique. Within
the energy sector the Company’s strategy is to license the technology to service
providers, provide site licenses to oil producers, and to acquire or earn
working interests in mature oilfields. In the environmental sector, DeepWaveSM
is licensed to service providers who implement the technology to reduce
long-term liabilities associated with contaminated sites.
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For further information please
contact: |
D. Brad Paterson, CFO 780-486-2222 x224 Tel investor.info@onthewavefront.com |
ON BEHALF OF THE BOARD OF DIRECTORS
WAVEFRONT ENERGY AND ENVIRONMENTAL SERVICES INC.
“D.
D.
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Cautionary Disclaimer – Forward
Looking Statements |
THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES THE CONTENTS OF THIS NEWS RELEASE WHICH WAS PREPARED SOLELY AT THE DISCRETION OF MANAGEMENT.