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For Immediate Release |
TSX-V: WEE |
EDMONTON, Alta January 27, 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
announce that it has entered into option agreements to obtain an additional
580-acres of mineral leases in Rogers County, OK. The first option agreement is
to purchase 90% of the working interest in the existing production, equipment,
and 420-acre mineral leases from an arms length party for total consideration of
US $190,000.00. The second option agreement is to purchase 100% of the working
interest in the existing production, equipment, and 80-acre mineral lease from
an arms length party for total consideration of $29,000.00. Wavefront is also
pleased to announce that it has purchased 100% of the working interest in the
existing production, equipment, and 80-acre mineral lease from an arms length
party for total consideration of US $29,000.00.
Wavefront President and CEO Brett Davidson stated, “We are positioning the
Company to have a strong presence in Rogers County where we believe DeepWaveSM
will have significant impact on overall oil recovery. The acquisition of the
additional mineral leases increase our producible acreage from 780 to 1360 acres
and significantly increases the total amount of oil in place that has the
potential to be recovered. The aggressive exploitation plan we developed
utilizing horizontal producers and vertical DeepWaveSM
water injectors to showcase the technology will now be extended to the new
leases. We continue to evaluate additional lease opportunities in the area and
hope to report on acquisitions production results 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.