www.onthewavefront.com 

For Immediate Release

TSX-V: WEE
Pink Sheets: WEESF


 Wavefront Energy & Environmental Services Inc.

Enters Into Environmental Licensing Agreement
With Aim Environmental Group Inc.
 



EDMONTON, Alta Dec 4, 2006/ Wavefront Energy and Environmental Services Inc., a provider and licensor of its proprietary fluid flow process for improved oil recovery (Powerwave™) and groundwater remediation (Primawave™) is pleased to announce that it has entered into a non-exclusive agreement to license the Company’s Primawave™ Process and associated ‘Hornet’ tool with AIM Environmental Group Inc. of Hamilton, Ontario.

AIM Environmental Group Inc. (www.aimgroup.ca) is a well respected full service environmental contractor, proven nationally, with offices across Canada providing site decommissioning, demolition, hazardous waste handling, and site remediation services.

“In order to meet and exceed our client expectations, AIM strive to stay in the forefront of remediation services continually seeking out new technologies,” JP Marini, Manager of Aims’ Environmental Services Division, said.  “In our endeavor to remain as a leading edge environmental contractor, AIM has entered into a licensing agreement with Wavefront to add their injection tool, Hornet, to our array of remediation capabilities.  It is our goal to facilitate successful and cost effective in-situ chemical oxidation remedial efforts utilizing the Hornet to enhance the injection process”. 

Wavefront President and CEO Brett Davidson stated, “We are pleased to be licensing Primawave™ to another progressive company such as AIM and we will aggressively work with them to expand the market for our technology. The Company has worked diligently to develop a cost effective and reliable tool, such as the Hornet, to deliver the Primawave™ Process for environmental applications. With the recent successful application of the Hornet by ERM, a number of environmental service companies who want to differentiate themselves from their competitors are looking at licensing opportunities from the Company. We will continue to evaluate the granting of licenses in a sector where $US 4.5 Billion per year is spent on the injection of chemicals into the ground to treat contaminants.
1

The Company would also like to update the market on activities at Rodney South, Ontario. The first phase of the project involving the drilling of eight water injection and two horizontal production wells as well as the construction of facilities and infrastructure is progressing. The sixth injection well is currently being drilled with the remaining two injectors slated to be completed by the end of December 2006. The drilling of the horizontal wells is planned for January 2007 with full-scale production to follow. A further update will be provided when production operations are initiated.

Wavefront is providing up to $C 2.25 million for initial capital expenditures and working capital requirements. Until payout of Wavefront’s initial investment cash flow from operating activities will be allocated 70% and 30% to Wavefront and Greentree, respectively. Subsequent to payout, cash flow from operating activities will be allotted 50% and 50% to Wavefront and Greentree.

About Wavefront Energy and Environmental Services Inc.

Wavefront develops, markets, and licenses proprietary technologies in the energy and environmental sectors. The Company’s patented fluid flow Powerwave™ and Primawave™ process is a proven and verified 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, the technology is licensed to service providers who implement the technology to reduce long-term liabilities associated with contaminated sites.
 

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.

 

 

 “D. Brad Paterson” (signed)

 

D. Brad Paterson, CFO & Director
 



1 http://www.epa.gov/ada/download/reports/600R03143/600R03143.pdf
 

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 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”.

Primawave™ is a registered Trademark of Wavefront Energy and Environmental Services Inc.

 

THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES THE CONTENTS OF THIS RELEASE WHICH WAS PREPARED SOLELY AT THE DISCRETION OF MANAGEMENT.