www.onthewavefront.com 

For Immediate Release

TSX-V: WEE
Pink Sheets: WEESF


 Oil Production Up An Average Of 199 Percent
In Rogers County, Oklahoma Installations
 

EDMONTON, August 31/ 2006 – Wavefront Energy and Environmental Services Inc., a provider of innovative technologies for increased oil production and groundwater remediation, has recorded on average 199 percent production improvement related to waterflooding from Dragonfly installations in a mature oil reservoir in Rogers County, Okla. The Dragonfly tool utilizes Wavefront’s patented fluid flow process to improve oil recovery from low or non-producing oilfields.

The results are based on oil production improvements ranging from a low of 25 percent to a high of 520 percent in patterns of wells directly affected by individual Dragonfly installations. Production improvements were based on barrels of oil per day produced during conventional waterflooding versus barrels of oil per day produced by pulsed water injection using the Wavefront-powered Dragonfly tool.

“These initial results demonstrate how effective Wavefront’s fluid flow process can be in increasing oil production – particularly in mature assets,” Wavefront President and CEO Brett Davidson said. “We are very encouraged with the potential impact our proprietary technology may have in breathing new life into mature oilfields.”

Based on the data from the Rogers County and previous installations, the dynamic effects attributed to the Wavefront- powered Dragonfly technology may lead to overall oil recovery improvement of 10 percent or greater. This increase in production could have a considerable effect on the world’s oil production. For example, BP’s statistical review of world oil reports that global oil production for 2005 was 81,088,000 barrels per day. A 1 percent increase in daily production would represent 810,880 barrels per day or 295,971,200 barrels of oil over one year.

Use of the Dragonfly tool differs from the practice of single well stimulation, which is used to improve oil production in single well applications. The goal of the Dragonfly tool, as a permanently installed device, is to gain oilfield-wide production improvements in waterfloodable mature assets – similar to those found in Rogers County. The Wavefront-powered Dragonfly tool will yield longer term production results whereas the immediate production gains seen in single well stimulations such as those reported for acid placements in California are not long term.


“There are substantial market opportunities for implementing the Company’s proprietary technology,” Davidson said. “The ability to rescue additional production from mature oilfields, many times without the need for further drilling, can have a positive impact on domestic oil production in the United States where the August 2006 issue of World Oil Magazine reports 374 Bbbl of oil, or approximately 66% of discovered oil remains stranded in reservoirs”

About Wavefront Energy and Environmental Services Inc.

Wavefront develops, markets, and licenses proprietary technologies in the energy and environmental sectors. The Company’s proprietary technology for fluid flow optimization has been demonstrated to increase oil recovery. Within the environmental sector, the 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.
 

Media Contact: Sadie McCrary – M/C/C for Wavefront
972-480-8383 ext. 222
Sadie_McCrary@mccom.com

Investor Contact:
 

Brad Paterson, CFO and Director
780-486-2222 ext. 224 Tel
investor.info@onthewavefront.com

 

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

WAVEFRONT ENERGY AND ENVIRONMENTAL SERVICES INC.

 

 

“Brett Davidson” (signed)

Brett Davidson, President, CEO, Director

 

 

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 States 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 known 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 RELEASE WHICH WAS PREPARED SOLELY AT THE DISCRETION OF MANAGEMENT.