 |
 |
| PRESS RELEASE |
|
WAVEFRONT ENERGY & ENVIRONMENTAL SERVICES
INC. |
For Immediate Release: |
Powerwave To Revive Offshore Oil Platform In
California 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
EDMONTON, Alta Mar 18, 2009/ Wavefront Energy and Environmental Services
Inc. (“Wavefront”), a world leader in providing innovative solutions for
increasing oil field production and enhancing the treatment of contaminated
groundwater, is pleased to announce that an offshore oil platform off the
coast of California will use Powerwave to boost water injection and revive
oil production.
“This is a considerable opportunity for Wavefront as about one quarter of
all oil is produced from offshore platforms in the Gulf of Mexico, Persian
Gulf, North Sea, and West Africa,” said Wavefront President and CEO Brett
Davidson.
“In 2008, the depletion rate of the world’s oil fields was greater than
expected at 9.1% over the previous year. With time and increased demand, oil
production rates will see steeper declines, and all producers will look for
the best production practices to help them remain profitable. Wavefront’s
Powerwave is a highly effective method for improving oil recovery that will
fill a dominant role in boosting production around the world.”
About Wavefront Energy and Environmental Services Inc.
Wavefront specializes in designing and developing leading-edge techniques
for oil well stimulation, improved oil recovery, and environmental
groundwater remediation.
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.