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For Immediate Release |
TSX-V: WEE |
EDMONTON, Alta January 31, 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 pleased to
provide an update on the DeepWaveSM
well stimulation previously reported on December 16th, 2005. The well, a
horizontal producer, was the subject of an acid stimulation where the DeepWaveSM
process was utilized to achieve greater distribution and penetration of the
injected liquid. The operator wishes to keep the exact production rates
confidential at this time. Prior to the stimulation, the well was not
economical. Following the DeepWaveSM
stimulation, there was 2,250% improvement in production from the well, providing
results beyond the operator’s expectations.
The operator recently conducted a second DeepWaveSM
stimulation. During this stimulation a tracer was utilized to gain a better
understanding of the distribution and penetration depth of the injected liquids.
The well has yet to be placed back into production hence results are not
available at this time.
The Company would also like to update the market on the gas well stimulation
conducted in Oklahoma as reported on October 11th and 24th, 2005. The primary
objective of the stimulation was to stop the production of frac sand from being
produced in the production interval. The secondary objective was to slow water
production via the introduction of a patented and a proprietary chemical
provided by the Company’s licensed provider of DeepWaveSM. To date
the primary objective has been 100% effective while the secondary objective
appears to have had some positive bearing on slowing water production but to
what extent remains unclear. Gas production from the well has been relatively
stable since the date of stimulation. The well, which was not economical prior
to the stimulation, remains economical today.
Wavefront President and CEO Brett Davidson stated, “Since 1997 we have been
touting the versatility of the DeepWaveSM
process. We have positively validated the strength of the technology in gas
reservoirs, heavy oil reservoirs, light oil reservoirs, and in the groundwater
remediation sector. The scope of the applications for the technology is broad
and we are only just beginning to see where results such as those detailed above
lead us”.
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.