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| PRESS RELEASE |
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WAVEFRONT ENERGY & ENVIRONMENTAL SERVICES
INC. |
For Immediate Release: |
Primawave™ To Be Deployed At Former Us Oil Refinery
And Terminal 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 June 17, 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
announce that four Primawave systems will be deployed in a commercial
project to facilitate accelerated clean-up of an estimated 80-acre former
oil refinery and terminal site operated by a major integrated oil and gas
producer. The implementation schedule for the first Primawave systems in
what is anticipated to be a multi-year, multi-system undertaking is being
finalized by the consultant, the refiner, and State authority.
Wavefront President and CEO Brett Davidson stated, “At the former refinery,
oil field waterflood methodology will be implemented as a new remedial
approach to increase the speed and ultimate recovery of the ground water
contaminate. As an integral component of that waterflood, Primawave will
provide quicker and more uniform injection of the water to mobilize trapped
refined product. The contract is based on the company’s conclusive outcomes
elsewhere in remedial fluid injections as well as in waterfloods. Wavefront
foresees decisive results in this program.”
Mr. Davidson further commented, “This is a substantive opportunity for
Wavefront as in the United States there are 149 active oil refineries down
from 301 oil refineries in 1982. The likelihood that some form of
remediation is on-going at both active and closed sites is very high hence a
vast market opportunity exists for Primawave. Wavefront is seeing sound
growth in adaptation of our exceptional injection technology in both the
energy and environmental sectors and the Company awaits the addition of new
adopters 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
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.