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| PRESS RELEASE |
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WAVEFRONT ENERGY & ENVIRONMENTAL SERVICES
INC. |
For Immediate Release: |
Powerwave™ Process To Be Implemented With Top Five
Global Oil Producer
EDMONTON, Alta Oct 01, 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 will implement Powerwave in two separate active
waterfloods with a top five global oil producer.
The two pre-commercialization programs are the outcome of positive results
generated from a comprehensive laboratory study previously conducted for the
client as announced in December 2006. Powerwave will be implemented at
undisclosed locations in North America and the United Kingdom respectively,
and will be the first such installations undertaken by a major global
producer.
Wavefront President and CEO Brett Davidson stated, “It has been widely
publicized that an imminent decline in world oil production is looming. As
such, it is imperative for oil producers, large or small, to incorporate
into their operations technologies that can boost production and lead to
greater ultimate oil recovery. The top five global oil producer which is
implementing Powerwave has a track record for adopting innovative approaches
and we look forward to positive outcomes that may lead to large-scale
commercialization of the process.”
Mr. Davidson further commented, “Having the opportunity to establish
Powerwave as a technology of choice in a major oil producer’s operations is
a considerable step towards broader adaptation. In an industry where there
exists approximately 167,000 water injection wells used for secondary oil
recovery in the United States alone, the prospects for Powerwave are
significant.
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 the Company and its operations
constitute “forward-looking statements” within the meaning of the United
Sates Private Securities Litigation Reform Act of 1995. All statements that
are not historical facts, including without limitation statements regarding
future estimates, plan, objectives, assumptions or expectations or future
performance, are “forward-looking statements”. 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. The Company expressly
disclaims any obligation to up-date any “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