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| PRESS RELEASE |
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WAVEFRONT ENERGY & ENVIRONMENTAL SERVICES
INC. |
For Immediate Release: |
Integrated Canadian Oil And Gas Company 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
Harnessing Powerwave To Increase Oil Recovery In Established Waterflood
EDMONTON, Alta Mar 04, 2009/ 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 a Calgary-based, integrated oil and gas company will use
Powerwave to increase production in a southern Alberta waterflood.
“This Canadian producer has previous experience with Powerwave for well
stimulations as well as an addition to Wavefront’s pump offering in the
heavy oil sector,” said Wavefront President and CEO, Brett Davidson. “The
reliability and success of Powerwave in those utilizations, coupled to the
resounding success of Powerwave in other waterfloods has this well known
producer once again turning to Powerwave to improve oil recovery in an
established waterflood. Powerwave’s low implementation cost improves field
productivity and increases recoverable reserves, which is particularly
important when falling commodity prices make further exploration and
drilling uneconomical.”
The confirmation of this project brings Wavefront to 87 confirmed Powerwave
licenses and 91 licenses pending or under negotiation.
“Wavefront has a strong commercial pipeline for all product lines in the
energy and environmental sector,” added Mr. Davidson. “With the addition of
Powerwave and Primawave distributors in Asia Pacific, Australia, South
America, Mexico, and European Union, Wavefront expects uptake of its
technology platform to grow appreciably.”
Wavefront Technology Solutions Inc.
Wavefront is a technology-based company with a focused, strategic plan to
leverage the value of its intellectual property 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.