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TSX-V: WEE
Pink Sheets: WEESF
EDMONTON, Aug. 20 /PRNewswire-FirstCall/ - Wavefront Energy and Environmental Services Inc. ("Wavefront"), a world leader in fluid injection technology for improved/enhanced oil recovery and groundwater restoration is pleased to announce that Powerwave will be deployed in a commercial project in Mitchell County West Texas. This is the third commercial Powerwave project slated for the oil-prolific West Texas region.
Wavefront President and CEO Brett Davidson stated, "We have made considerable advancement in the oil sector now having a total of 24 Powerwave systems installed, a further 51 systems confirmed to be installed, and an additional 23 systems pending final authorization. Depending on client scheduling, management anticipates that the bulk of the Powerwave systems should be installed by the end of the calendar year."
Mr. Davidson further commented, "This has been a breakout year for Wavefront in both the energy and environmental sectors where field results related to Powerwave and Primawave have led to substantial interest from the user community in the injection methodologies. With continued positive results management remains confident that Powerwave and Primawave will quickly become the injection methods of choice in the respective fields of use."
About Wavefront Energy and Environmental Services Inc.
Wavefront is a technology-based company with a focused, strategic plan to leverage the value of our intellectual property in order to maximize oil production recovery operations, as well as provide additional solutions for environmental applications.
ON BEHALF OF THE BOARD OF DIRECTORS
WAVEFRONT ENERGY AND ENVIRONMENTAL SERVICES INC.
"D. Brad Paterson" (signed)
D. Brad Paterson, CFO & Director
Cautionary Disclaimer - Forward Looking Statements
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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.
THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES THE CONTENTS OF
THIS RELEASE WHICH WAS PREPARED SOLELY AT THE DISCRETION OF MANAGEMENT
SOURCE Wavefront Energy and Environmental Services Inc.
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