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| PRESS RELEASE |
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WAVEFRONT TECHNOLOGY SOLUTIONS INC. |
For Immediate Release: |
California Operator Executes Powerwave Agreement 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 Nov 03, 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 privately held, Los Angeles
County-based producer will initially deploy three Powerwave systems to
improve oil recovery and increase total reserves in an active waterflood.
The main drivers for oil producers to employ Powerwave include:
1. Cost-effective method for maximizing oil production with existing wells
and infrastructure;
2. Opportunity for rapid payback and significant return on investment
through increased oil production;
3. Could minimize further well drilling leaving a smaller environmental
footprint;
4. Possibility of reducing the amount of water required to produce
additional reserves;
5. May extend field life and increase overall asset value by providing
greater ultimate oil recovery; and,
6. Potential to re-visit legacy oil fields for another round of production.
“Wavefront has been fielding inquires from around the globe on the potential
benefits Powerwave can bring to production operations,” said Wavefront
President and CEO Brett Davidson. “We have added new sales personnel in
various jurisdictions to capitalize on the growing interest and demand for
information. As results generated by Powerwave are better known and
understood throughout the industry, we anticipate more oil producers will
use Powerwave for both single well stimulation and long term flooding
applications.”
For further information please contact:
D.
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.