 |
 |
| PRESS RELEASE |
|
WAVEFRONT ENERGY & ENVIRONMENTAL SERVICES
INC. |
For Immediate Release: |
Alberta Powerwave Project To Be Expanded
EDMONTON, Alta Mar 17, 2008/ Wavefront Energy and Environmental Services
Inc. (“Wavefront”), a leader in technology development and implementation
for improved oil recovery and optimized groundwater remediation is pleased
to announce that the Powerwave program which has been on-going since October
2007 with an international oil producer in Alberta has entered the
commercial phase and will be expanded by multiple systems. For reasons of
confidentiality production results, customer name, and oil field location
can not be released.
Wavefront President and CEO Brett Davidson stated, “This is a notable
accomplishment for Wavefront and further validates its game changing
technology, Powerwave. Results from the current installations substantiate
Powerwave’s impact on the production of stranded oil and we are very
gratified to see the existing program being expanded by multiple systems.
Extension of the Powerwave program by the client stems from efficiencies the
process has generated to date. The implementation schedule for the
commercial phase of the program is being determined for the oil field that
currently has over two hundred water injection wells.”
Mr. Davidson further commented, “Wavefront continues to amass a growing list
of companies adapting Powerwave to access stranded oil to positively affect
natural production decline, extend field life, and increase ultimate oil
recovery from an oil field. We anticipate additional announcements on
Powerwave implementation, and adaptation in the near term.”
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