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| PRESS RELEASE |
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WAVEFRONT TECHNOLOGY SOLUTIONS INC. |
For Immediate Release: |
Southern Alberta Powerwave Project Update Positive
Early Results To Lead To Additional Powerwave Installations 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 Oct 05, 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 provide an update on the Southern Alberta
Powerwave project.
The positive early results in this complex geological setting are very
comparable for the same time frame to Wavefront’s longest running Powerwave
project in Eastern Alberta of less geological complexity. As reported in a
June 2009 news release, the Eastern Alberta project had recorded total
incremental oil production increase of 34,000 barrels over 19-months.
After five months of Powerwave, incremental oil production from the four
production patterns in the Southern Alberta project is 27 barrels per day
over historical rates. This represents a 16.7 per cent increase in
productivity. The incremental oil production is attributed to 13 producing
wells which surround the Powerwave installations and Wavefront expects
further production increases with time.
Engineers with the Southern Alberta client, a leading Canadian integrated
oil and gas company have indicated to Wavefront that, based on the positive
results achieved though Powerwave, they have sought approval to install
multiple systems in the asset.
“We are pleased with the positive early results Powerwave was able to
achieve in the Southern Alberta project and with the client’s intention to
install more Powerwave systems,” said Wavefront President and CEO Brett
Davidson. “In the same way steam injection, horizontal drilling, and
multi-stage fracturing offered new opportunities in oil recovery, Powerwave
represents one of the single most important game changing technologies
developed to date to improve oil production rates, extend field life, and
maximize oil production.”
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.