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For Immediate Release |
TSX-V: WEE |
EDMONTON, Alta February 14, 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 has filed a
lawsuit in the United States District Court for the Eastern District of Texas,
naming Applied Seismic Research Corporation (“ASR”) of Plano, Texas as
Defendant. In the complaint, Wavefront alleges that ASR tortiously interfered
with the Company’s existing and prospective business relationships with
Occidental of Elk Hills, Inc. (“Occidental”) relating to a pilot waterflood
project the Company was about to commence with Occidental. Wavefront alleges
that ASR made bad faith infringement statements to Occidental concerning
Wavefront’s technology and ASR’s patents, one of which had expired, and that
ASR’s tortious interference caused Occidental to cancel the pilot study,
resulting in monetary harm to Wavefront. Furthermore, Wavefront alleges that ASR
engaged in unfair competition in violation of the Lanham Act and Texas common
law.
Wavefront is seeking unspecified compensatory and punitive damages, that ASR’s
patents be declared invalid, unenforceable and/or not infringed by Wavefront’s
tools, that Wavefront be granted permanent injunctive relief enjoining ASR from
further acts of interference and unfair competition, that Wavefront be granted
pre-judgment and post judgment interest on the damages caused by ASR, reasonable
attorneys’ fees, and such other and further relief as the Court may deem just
and proper.
Wavefront President and CEO Brett Davidson stated, “The extent to which ASR has
endeavored to thwart the Company’s progress with a major oil producer is
contradictory to their own statements. In a letter received by Wavefront on June
3, 2005 William Stern, the President of ASR wrote ‘…our patents do not
overlap.’”
Mr. Davidson further stated, “ASR says its closed borehole technology attempts
to generate a “shock” or seismic wave to induce oil flow. For greater clarity,
ASR’s tools are deployed in closed boreholes and have no fluid connectivity to
the reservoir. It is not the objective of the DeepWaveSM
process to generate seismic waves rather, the technology is purposely designed
to move liquids, improve injection rates, as well as the distribution of
injected liquids in the reservoir. Downhole tools related to DeepWaveSM
are deployed in injection wells having fluid connectivity to the reservoir
through perforations, screens, liners, or open-hole completions.”
Mr. Davidson went on to note, “Wavefront and its advisors have always taken
extraordinary care to ensure that its technology is unique from the prior art.
Wavefront will vigorously defend its intellectual property and all other rights
to the full extent of the law. In management’s opinion if ASR had not unlawfully
interfered, the success of the pilot waterflood project would have resulted in
significant revenue to Wavefront for a number of years into the future.
Management is optimistic of a favorable outcome as well as the opportunity to
renew our project with Occidental of Elk Hills. Wavefront and its licensed
providers are moving forward on all fronts with prospective clients and joint
venture partners. Management will not allow the actions of ASR to interfere with
the execution of the Company’s business plan.”
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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Looking Statements |
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