PRESS RELEASE

WAVEFRONT ENERGY & ENVIRONMENTAL SERVICES INC.
TSX-V: WEE
Pink Sheets: WEESFE

For Immediate Release:
June 26, 2008  
Print News Release

WEE Settles Lawsuit With Applied Seismic Research
EDMONTON, Alta June 26, 2008/ Wavefront Energy and Environmental Services Inc. (“Wavefront”), a world leader in fluid injection technology for improved/enhanced oil recovery and groundwater restoration announces that it has settled its lawsuit against Applied Seismic Research (“ASR”) of Plano, TX first announced October 17, 2007.

Under the terms of the settlement agreement:
 

  1. Wavefront will dismiss the pending lawsuit with prejudice, and agrees that it may not reassert and releases the claims that were dismissed without prejudice in the first lawsuit (see October 17, 2006 news release).
     
  2. Each party will bear its own costs and attorneys’ fees.
     
  3. ASR’s tools are not intended to increase or enhance injection rates. ASR represents and warrants that its tools have not been used in any well to inject fluid into a geological formation, and agrees that its tools will not be used in any well to inject fluid into a geological formation. Wavefront acknowledges that when ASR’s tools are installed in an injection well, it may cause an incidental leakage of fluid of about a barrel per day, which fluid must be replaced.

Wavefront President and CEO Brett Davidson stated, “It is important to distinguish the vast difference between reservoir stimulation techniques. In an attempt to induce oil flow, ASR generates a shockwave in wells having no fluid connectivity to the oil producing reservoir. Conversely, Wavefront’s Powerwave systems are deployed in water, CO2, or other injection wells having full fluid connectivity to the reservoir. Powerwave generates an intermittent fluid pressure pulse that provides more uniform injection of fluids resulting in extended field life, greater ultimate oil recovery, and increased asset value. The concession from ASR that they will not use their technology to inject fluid is a considerable gain for Wavefront as it clarifies any ambiguity concerning the product offering of ASR and that of Wavefront’s one-of-a-kind injection approach.”

Mr. Davidson further commented, “We continue to see impressive production results related to Powerwave and are gaining significant attention in the marketplace for improved waterfloods, CO2 floods, etc. As the only company offering this form of injection worldwide, Wavefront is in a unique and amiable position to capitalize on Powerwave and the successes seen in the field.”

About Wavefront Energy and Environmental Services Inc.
Wavefront is a technology-based company with a focused, strategic plan to leverage the value of our intellectual property in order to maximize oil production recovery operations, as well as provide additional solutions for environmental applications.

For further information please contact:
Brad Paterson, CFO
780-486-2222 ext. 224 Tel
investor.info@onthewavefront.com
On behalf of the Board Of Directors, Wavefront Energy & Environmental Services Inc.

“D. Brad Paterson” (signed)
D. Brad Paterson, CFO and Director
 

Cautionary Disclaimer – Forward Looking Statements
Certain statements contained herein regarding Wavefront and its operations constitute “forward-looking statements” within the meaning of Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations or future performance, are “forward-looking statements”. In some cases, forward-looking statements can be identified by terminology such as ‘‘may’’, ‘‘will’’, ‘‘should’’, ‘‘expect’’, ‘‘plan’’, ‘‘anticipate’’, ‘‘believe’’, ‘‘estimate’’, ‘‘predict’’, ‘‘potential’’, ‘‘continue’’ or the negative of these terms or other comparable terminology. 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. Such factors include fluctuations in the acceptance rates of Wavefront’s Powerwave and Primawave Processes, demand for products and services, fluctuations in the market for oil and gas related products and services, the ability of Wavefront to attract and maintain key personnel, technology changes, global political and economic conditions, and other factors that were described in further detail in Wavefront’s continuous disclosure filings, available on SEDAR at www.sedar.com. Wavefront expressly disclaims any obligation to up-date any “forward-looking statements”, other than as required by law.

 

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