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| PRESS RELEASE |
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WAVEFRONT ENERGY & ENVIRONMENTAL SERVICES
INC. |
For Immediate Release: |
Rodney South Powerwave™ Project Update
EDMONTON, Alta Mar 10, 2008/ Wavefront Energy and Environmental Services
Inc. (“Wavefront”), a leader in technology development and implementation
for improved oil recovery and optimized groundwater remediation wishes to
provide an update on positive injection results for the Powerwave
installations in the Rodney South farm-in agreement with Greentree Gas and
Oil Ltd. In Rodney South, Powerwave has been shown to increase injection
rates by an approximate factor of five versus conventional injection.
Injectivity index, a measure of the volume of water injected per psi
pressure, was 0.11 without Powerwave and 0.52 with Powerwave. The magnitude
of the water injection rate increase is consistent with previous data
collected in other Powerwave projects and demonstrates the effectiveness of
the process over a varied range of geological conditions.
Wavefront President and CEO Brett Davidson stated, “The big win is always
improved oil recovery and extending field life but before those can be
achieved there has to be a volumetric balance in the system. Consider water
injection into an oil reservoir as filling a bath tub. If the bath tub is
half-full then we are filling it five times faster than would normally
occur. At Rodney South approximately 9,000 barrels of water must be injected
to balance the system and re-establish pressure drive. Once this critical
balance is achieved measurable improvements in oil recovery are expected to
follow. With Powerwave we expect to fill the Rodney South ‘bath tub’ in
about four months versus approximately twenty months without it. We are very
pleased with this initial injection response and look to large gains in oil
recovery mimicking those reported to us by the international oil producer
employing Powerwave in Alberta.”
Greentree President Duncan Hamilton commented, “The magnitude of the
improved injection rates seen at Rodney South with Powerwave cannot be
achieved by any other means. Reducing the time to fill the pore space and
re-establish pressure drive by a factor of five means we will see a
production response much sooner than in a conventional waterflooding
approach. The expedited fill-up also means we should see an economic impact
about sixteen months sooner. Powerwave’s ability to reduce waterflood
response times may change the way many companies think about waterflooding
programs. As time progresses we anticipate Powerwave will be expanded in
Rodney South and possibly in Greentree’s other Rodney Units to awaken these
mature assets, extend field life and maximize production of reserves.”
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
| © 2008 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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