www.onthewavefront.com 

For Immediate Release

TSX-V: WEE
Pink Sheets: WEESF


 DeepWaveSM Well Stimulations
Continue To Prove Beneficial For Oil Production

 

EDMONTON, Alta March 30, 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 two well stimulations conducted near Bakersfield, California in December 2005 and January 2006.

Production from the first well stimulation reported on December 15, 2005 and updated January 31, 2006 has now stabilized. Oil production rates have tailored off from those reported immediately following the stimulation but remain 11 times better than pre-stimulation levels. Other noted improvements are the water inflow, which has dropped, and the gas production, which has more than doubled. Prior to the stimulation, the well was producing 2 barrels of oil per day, 86 barrels of water per day, and 3 thousand cubic feet of gas per day. Two months following the stimulation, the well is producing 22 barrels of oil per day, 76 barrels of water per day, and 8 thousand cubic feet of gas per day.

Initial production results from the second well stimulation reported on January 31, 2006 and updated February 15, 2006 show improvements in oil, water and gas production. As previously reported, this well was run with a tracer study that confirmed distribution of the stimulation acid over 100 percent of the perforations. Prior to the stimulation, the well was producing 7 barrels of oil per day, 144 barrels of water per day, and 694 thousand cubic feet of gas per day. Following the stimulation, the well is producing 22 barrels of oil per day, 117 barrels of water per day, and 817 thousand cubic feet of gas per day. This is a three-fold increase in production combined with a reduction in water inflow as well as an increase in gas production.

Production and tracer study results for the third stimulation conducted near Bakersfield are not available at this time.

Brett Davidson, President and CEO stated, "A key benefit of DeepWaveSM is that it is a method that provides for intense mixing, greater distribution, and greater penetration depth of liquids being injected into the ground. Chemical treatment companies focus on the chemistry, but not mixing, distribution or penetration depth. DeepWaveSM, combined with chemical applications, forms a very effective synergistic approach to reservoir stimulation. This synergistic effect is well established with documented case histories as far back as 2001 where well stimulations that combined DeepWaveSM with treatment chemicals were found to outperform prior well stimulations by a factor of five1. A typical chemical placement by pressure injection may affect 40-60% of the perforated interval however our most recent results show that DeepWaveSM distributed the chemical across 100% of the perforated interval. No other placement technique has previously enabled treatment of all perforations.”

Mr. Davidson further stated, “From its inception the Company has always maintained that DeepWaveSM is a game changing technology that will result in the rethinking of how liquids can be optimally placed in the ground. From the results outlined above and those we have garnered since 1998 the technology is proven to be repeatable and scalable for broad application in the oil and gas industry. The Company has yet to see a comparable technology that provides for intense mixing, greater distribution, and greater penetration depth of injected liquids.”

Mr. Davidson went on to note, "DeepWaveSM is of strategic importance to the Company and its licensee’s as it allows an integrated solution to be offered to clients that competitors cannot match. Management believes that with consistent results and sustainable post-treatment production rates as demonstrated in California, DeepWaveSM will be the placement technique of choice in an industry where chemical sales in the areas of well stimulation, production and enhanced oil recovery commanded over 1.7 billion in the United States in 2004 and are expected to reach US$2.2 billion by 20092. Global sales of all oilfield chemicals have been projected to hit US$10 billion in 20083.”
 
 
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.
 

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. Brad Paterson” (signed)

 

D. Brad Paterson, CFO & Director
 



1 Paper 2001-57, Petroleum Society CIM International Conference, Calgary, AB, June 12-14, 2001.
2 Oilfield Chemicals to 2009 (published 11/2005, 287 pages), The Freedonia Group, Inc.
3 World Oilfield Chemicals to 2008 (published 4/2005, 362 pages), The Freedonia Group, Inc.

 

Cautionary Disclaimer – Forward Looking Statements
Certain statements contained herein regarding the Company and its operations constitute “forward-looking statements” within the meaning of the United Sates Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plan, objectives, assumptions or expectations or future performance, are “forward-looking statements”. We caution that such “forward-looking statements” involve know and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. The Company expressly disclaims any obligation to up-date any “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.