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| PRESS RELEASE |
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WAVEFRONT ENERGY & ENVIRONMENTAL SERVICES
INC. |
For Immediate Release: |
Warrant Exercise Notice (Triggering Event)
EDMONTON, Alta April 9, 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
announce that further to its March 3, 2008 news release stating a Triggering
Event in relation to the acceleration of the expiry to April 3, 2008 of
2,492,838 common share purchase warrants issued by the Company on December
24, 2007 and the 4,820,526 common share purchase warrants issued by the
Company on January 31, 2008 (collectively the “Warrants”), at the close of
business April 3, 2008 all Warrants had been exercised providing the
Corporation with gross proceeds of $9,141,704.
Wavefront would also like to announce that three additional Powerwave
systems have been installed in the Rodney South farm-in agreement with
Greentree Gas and Oil Ltd. bringing the total number of systems to eight and
completing Wavefront’s obligations under the terms of the agreement.
Wavefront President and CEO Brett Davidson stated, “In our March 11, 2008
news release we emphasized how well the initial five Powerwave systems were
working to achieve improved injectivity rates as well as faster reservoir
fill-up and repressurization. With the addition of the final three systems
the reservoir will fill even faster, attaining volumetric balance quicker
thus impacting oil productivity rates now demonstrating a positive response
to Powerwave.”
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