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For Immediate Release |
TSX-V: WEE |
EDMONTON, Alta October 27, 2005/ Wavefront Energy and Environmental Services
Inc., a provider of innovative technologies for improved oil recovery and
groundwater remediation, is pleased to announce the appointment of Walter
Stelmaschuk to the Board of Directors.
Walter Stelmaschuk served as President and later Chairman of NQL Drilling Tools
Inc. (now NQL Energy Services) from 1994 until his retirement in 2001. NQL is an
industry leader in providing downhole tools, technology and services used
primarily in drilling applications in the oil and gas, environmental and utility
industries. NQL trades on the TSX Exchange under the symbol NQL. During Mr.
Stelmaschuk’s term NQL stock rose to a historical high of $14.65. Prior to NQL
Mr. Stelmaschuk served as President and Chairman of National Quick Lube Inc.,
President of Mr. Lube USA, and Vice-President of Midland Doherty. Mr.
Stelmaschuk holds an MBA from York University as well as Honors Degrees in both
Economics and Political Science from the University of Saskatchewan.
Walter Stelmaschuk commented, “I am pleased to join the Board of Directors of
Wavefront. I have been following the progress of Wavefront since it was a
private company. In November 2000 I stated to Brett Davidson, Wavefront’s
President and CEO that conceivably every oil company in the world is going to
need the Company’s DeepWaveSM Technology (http://www.onthewavefront.com/dw_what-is-deep-wave.htm)
to maximize oil recovery. I stand by those comments today. Wavefront is an
exciting company with exceptional potential and I look forward to participating
in building a world class company”.
“As we continue to develop a strong and focused organization it is essential to
have high quality independent voices whose experience base not only contributes
to the overall success of the Company but also to building shareholder value,
said Brett Davidson, President and CEO of Wavefront. “Walter’s wealth of
knowledge in building companies and in the public markets adds significant depth
to the board and is a great credibility statement on the Company’s progress and
DeepWaveSM technology. We are pleased that he has chosen to be part of our
Company. Management is enthused with the opportunities that continue to present
themselves and we look forward to reporting on those 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 DeepWaveSM
Technology for fluid flow optimization has been demonstrated to increase oil
recovery. Within the environmental sector, DeepWaveSM
Technology accelerates contaminant recovery and improves in-ground treatment of
groundwater contaminants thereby reducing liabilities and restoring the site to
its natural state more rapidly.
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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.
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THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES THE CONTENTS OF THIS NEWS RELEASE WHICH WAS PREPARED SOLELY AT THE DISCRETION OF MANAGEMENT.