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| PRESS RELEASE |
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WAVEFRONT ENERGY & ENVIRONMENTAL SERVICES
INC. |
For Immediate Release: |
Oklahoma CO2 Flood To Benefit From
Powerwave Cautionary Disclaimer –
Forward Looking Statements THE TSX VENTURE EXCHANGE NEITHER
APPROVES NOR DISAPPROVES THE CONTENTS OF THIS RELEASE WHICH WAS PREPARED
SOLELY AT THE DISCRETION OF MANAGEMENT
EDMONTON, Alta Aug 11, 2008/ Wavefront Energy and Environmental Services
Inc. (“Wavefront”), a world leader in fluid injection technology for
improved/enhanced oil recovery and groundwater restoration is pleased to
report that Powerwave will be implemented in Texas County, Oklahoma by a
Denver-based, New York Stock Exchange traded, independent oil and gas
producer having operations in the Permian Basin, Rocky Mountain,
Mid-Continent, Gulf Coast and Michigan regions of the United States.
“This is a very significant milestone for Wavefront as we expand from
optimizing secondary oil recovery using waterflooding to tertiary, or
Enhanced Oil Recovery (“EOR”) strategies using CO2”, stated
Wavefront President and CEO, Brett Davidson. The main principle behind EOR
is to recover the trapped and bypassed oil left following secondary
recovery. This is accomplished either by reducing capillary forces (surface
tension) allowing the oil to flow more readily through the pores of the
oil-bearing formation or by increasing the viscosity of the injected fluid
to improve the effectiveness with which water pushes out the oil from the
rock. However, the injection of fluids such as CO2, polymers,
surfactants, and combinations thereof are met with the same challenges as
waterflooding; nature’s path of least resistance dominates where the
injected fluids flow hence the potential benefits of these approaches are
not fully realized. Powerwave aids the recovery of oil by allowing more
uniform injection of the tertiary recovery agent(s), giving improved mixing
with the oil and hence better overall results.“
Wavefront President and CEO Brett Davidson further stated, “In the Texas
County project, Powerwave will provide the means of broader distribution of
the CO2 allowing for more effective oil returns. Currently there
are 66 CO2 floods in the United States with 40 of those located
in the Permian Basin. There are 4 CO2 floods in Canada with the
most notable being the Weyburn project in southeastern Saskatchewan that has
been on-going since 2000.”
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
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.