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| PRESS RELEASE |
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WAVEFRONT TECHNOLOGY SOLUTIONS INC. |
For Immediate Release: |
Fort Worth Based Operator Implements Powerwave 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
To Improve Injection Performance In Permian Basin
EDMONTON, Alta August 12, 2009/ Wavefront Technology Solutions 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 Powerwave is being implemented in a
West Texas waterflood to improve injection performance.
Secondary oil recovery is a technique where water is injected into a
reservoir to increase pressure in order to mobilize oil that has ceased to
flow under natural pressure gradients. The principal benefit of Powerwave
for this client is the improvement of injection rate to expedite reservoir
re-pressurization. Injection rate is one of the keys to success of any
flooding program, as rate is proportional to offsetting fluid production.
Meaningful oil production will only be realized from any flooding approach
when pressure is re-established in the reservoir by refilling the pore space
depleted of fluid during primary production activities. The faster the “bath
tub” can be filled, the earlier production enhancement may be obtained.
Powerwave improves both injection rate as well as fluid distribution
throughout the reservoir, leading to greater ultimate oil recovery.
“Wavefront is very pleased to add this Fort Worth operator to the growing
number of Powerwave adopters,” says Wavefront President and CEO Brett
Davidson. “The Permian Basin represents a significant opportunity for
Wavefront where more than 10,000 injection wells exist for water and CO2
injection. Wavefront will continue to actively pursue Powerwave contracts in
the region and we look forward to future project announcements.”
About Wavefront Technology Solutions 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.