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| PRESS RELEASE |
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WAVEFRONT ENERGY & ENVIRONMENTAL SERVICES
INC. |
For Immediate Release: |
Primawave™ Process Successfully Implemented At
Active Gas Station In Orlando, Florida
EDMONTON, Alta Feb 25, 2008/ Wavefront Energy and Environmental Services
Inc. (“Wavefront”), a leader in technology development and implementation
for improved oil recovery and optimized groundwater remediation processes is
pleased to announce that Primawave was successfully implemented at an active
gasoline retail outlet to optimize the injection of a remedial fluid. The
gasoline retail outlet, located in Orlando, Florida is operated by a major
convenience store chain having 1,623 outlets that sell gasoline. Prior to
Primawave the site had been subjected to four previous attempts of limited
success to inject the remedial fluid intended to neutralize methyl
tert-butyl ether (MTBE) impacting groundwater quality. In the four previous
injection attempts delivery of the remedial fluid met with difficulty where
the fluid could not be contained in the subsurface. In the recently
completed injection Primawave outperformed conventional injection approaches
permitting the entire fluid volume to be injected while at the same time
containing it to the subsurface.
Wavefront President and CEO Brett Davidson commented, “MTBE is a gasoline
additive as well as one of the most common groundwater pollutants and is of
considerable environmental concern in the approximate 200,000 gasoline
retail outlets in the United States. Consider the groundwater aquifer as the
patient, the contaminant the ailment, and the remedial fluid the cure.
Whether it is a gas station, an oil refinery, or an industrial site being
remediated through the use of ‘in-ground’ remedies, the ability to optimally
deliver the cure is paramount for the reduction in pollutant concentration
levels. If we can’t deliver the remedy we can’t cure the patient. Primawave
achieves pin-point injection of the remedy, even under the harshest
conditions, giving the environmental sector greater ability to meet the
challenges of groundwater clean-up.”
Wavefront also wishes to announce that it will file, in accordance with TSX
Venture Exchange policy, a Summary Form disclosing the granting of an
aggregate of 210,000 incentive stock options pursuant to the Wavefront's
Stock Option Plan. The stock options are being issued to the six directors
of the Company. The options will be exercisable at a price of $1.65
per share, for a period of five years. In accordance with Wavefront's
Stock Option Plan and Exchange policy, the incentive stock options are
subject to a hold period of 4 months and vesting period of 18 months.
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