Wavefront Energy & Environmental Services Inc. Powerwave(TM) Implemented With Texas Producer
Posted on: Tuesday, 27 May 2008, 12:00 CDT
EDMONTON, May 27 /PRNewswire-FirstCall/ -- Wavefront Energy and Environmental Services Inc. ("Wavefront"), a world leader in fluid injection technology for improved/enhanced oil recovery and groundwater restoration announces that Powerwave has been implemented in a commercial application with a Fort Worth based producer in a project first published March 19, 2008.
Wavefront President and CEO Brett Davidson stated, "A serious dilemma looms: world oil production is approaching a critical juncture where many once-prolific fields have or are reaching maturity; production rates from these fields being in steady decline. With 60 percent or more of all oil remaining stranded in reservoirs it is imperative that the industry extend all effort to produce that oil known to exist in reservoirs. Powerwave has repeatedly demonstrated that it can be a key contributor to the global challenge of maximizing oil recovery factor. With recently announced results of positive production improvements associated with Powerwave, Wavefront believes the technology will change the face of improved/enhanced oil recovery efforts worldwide."
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 --------------------------------------------------
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 http://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
Wavefront Energy and Environmental Services Inc.
CONTACT: D. Brad Paterson, CFO, (780) 486-2222 x224 Tel,investor.info@onthewavefront.com
Source: PRNewswire-FirstCall
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