FOR IMMEDIATE RELEASE: December 15, 2006
LETTER OF INTENT TO ACQUIRE TOP GUN SAND PUMPS AND RENTALS EXTENDED
EDMONTON, Alta Dec 15,
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™)
wishes to update the market regarding the proposed acquisition of
Top Gun Sand Pumps and Rentals (“Top Gun”).
In connection with the Letter of Intent to acquire a 100% undivided
interest in Top Gun, an arms length privately held Saskatchewan
company, as announced June 6, 2006 the parties have further agreed
to extend the deadline to close the transaction to February 15,
2007. The extension will permit Top Gun to complete the assignment
of intellectual property, and the Company to conclude a definitive
purchase agreement.
Wavefront President and CEO Brett Davidson stated, “As successfully
demonstrated in the heavy oil sector, Top Gun’s intellectual
property when combined with Powerwave™
has always been of interest to the Company. We remain committed to
closing the transaction and look forward to bringing Tyler Scott and
his Top Gun team into the Wavefront fold.”
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.
For further information please contact: Brett
Davidson, President and CEO
519-624-1312 ext. 24 Tel
investor.info@onthewavefront.com
On behalf of the Board Of Directors,
Wavefront Energy & Environmental Services Inc.
“Brett Davidson” (signed)
Brett Davidson, President, CEO & Director
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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”.
Powerwave™ and Primawave are registered Trademarks of Wavefront Energy and Environmental
Services Inc. |