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| PRESS RELEASE |
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WAVEFRONT ENERGY & ENVIRONMENTAL SERVICES
INC. |
For Immediate Release: |
WEE Enters Into Agreement With Aspen Operating
Company, Llc
To Implement Powerwave™ In North Central Texas
EDMONTON, Alta Dec 17, 2007/ 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 it has entered into an agreement with Aspen Operating
Company, LLC of Fort Worth, Texas to implement Powerwave at two separate
leases currently under waterflood.
Wavefront President and CEO Brett Davidson stated, “An interesting reality
about the oil industry is that approximately 70% of our daily oil supply
comes from reservoirs discovered prior to 1970. As such, oil producers,
large or small, will be required to utilize a variety of legitimate
technologies in order to maximize the recovery of oil that is stranded in
aging reservoirs throughout the globe. Aspen, with a strategic focus of
applying advanced solutions to optimally produce their reservoirs, has
identified Powerwave as a technology that when combined with improved or
enhanced oil recovery approaches (i.e. waterfloods, CO2 floods, chemical
flooding) can potentially lead to large gains in overall oil recovery.
Wavefront is pleased to be working with a technology focused company such as
Aspen and we look forward to expanding our relationship with them.”
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
| © 2007 Wavefront Energy & Environmental Services Inc. All
rights reserved. Powerwave™ and Primawave™ are registered trademarks of
Wavefront Energy and Environmental Services, Inc. |
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