 |
 |
| PRESS RELEASE |
|
WAVEFRONT TECHNOLOGY SOLUTIONS INC. |
For Immediate Release: |
Alberta Client Begins Expansion Of Powerwave Program 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 Feb 25, 2010/ 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 it is expanding the Powerwave program
with the Eastern Alberta client announced December 17, 2009.
Under the terms of the Agreement, Wavefront will initially provide a minimum
of 35 to 50 Powerwave systems with approximately two-thirds of those systems
slated for the existing Eastern Alberta operation where Powerwave has been
successfully employed for approximately 2.5 years.
“We are very pleased to be starting the larger roll-out of Powerwave with
this Eastern Alberta client,” said Wavefront President and CEO Brett
Davidson. “We are now looking forward to further improving oil production
rates, slowing the rate of production decline, and extending the economic
life of the field where Powerwave has already been a major success.”
Wavefront has also completed two successful Powerwave single well
stimulations in Alberta with two different clients using Odyssey,
Wavefront’s newest stimulation tool. Three additional stimulations are
slated in Alberta with this client group. In the next 21 days, Powerwave is
expected to be a key component in five stimulations in California and one in
Alaska.
“The primary benefits of Powerwave in well stimulation include intense fluid
mixing, greater fluid distribution, and deeper penetration of the liquids
being injected into the ground. With the introduction of the Odyssey tool,
Wavefront is expanding its presence in the well stimulation market,” said
Mr. Davidson.
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.