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| PRESS RELEASE |
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WAVEFRONT TECHNOLOGY SOLUTIONS INC. |
For Immediate Release: |
Alberta Junior Deploys Three Powerwave Systems To
Increase Recovery At Its Pembina Oil Field 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 15, 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 a Calgary-based junior oil producer
will deploy three Powerwave systems in its operations in the giant Pembina
oil field.
Pembina is the largest conventional onshore oil field in Canada with more
than 11,500 wells covering more than 4,000 square kilometers. The field
originally contained more than 7.8 billion barrels of oil, but despite the
fact that primary production started in 1953 and secondary (waterflood)
recovery started in 1960, less than 20 per cent of the oil has been
recovered. Many of the Pembina conventional waterfloods are now approaching
maximum recovery and operators are now turning to Wavefront’s Powerwave to
unlock the field’s significant remaining oil potential.
“This opportunity is another example of the continued and growing acceptance
of Powerwave in the marketplace,” said Wavefront President and CEO Brett
Davidson. “Unlocking the trapped reserves in the Pembina oil field
represents a significant opportunity for Wavefront to demonstrate how
effectively Powerwave can increase oil production. Based on results
generated at other Powerwave installments, we are confident that increased
reserves will be achieved. Field evidence continues to show that Powerwave
can dramatically improve oil field economics.”
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.