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LiteWave Reports Production Status of Fifteen Shallow Natural Gas Wells in Bourbon County, Kansas

Posted on: Wednesday, 10 May 2006, 09:10 CDT

LiteWave Corp. (OTC BB: LTWV) is pleased to confirm that the third group of five shallow gas wells on its leasehold properties in Bourbon County, Kansas are ready to be placed into production. Operating personnel have stabilized production at a rate of between 130,000 and 145,000 cubic feet per day from the initial ten producing shallow wells, with excellent back pressure on the lines from all fifteen wells.

Gas flow is currently being delivered to market from a total of ten wells, with the final five of fifteen scheduled for production by early June. LiteWave has committed to drill a further ten wells starting this month on the 3,879 acres of its leasehold property, this will bring a total of 25 wells planned to be on-line by mid summer 2006. The potential exists for drilling another thirty wells on this acreage, for a total potential of forty-five wells on our existing leased acreage.

In addition, the Company has identified another 4,000 acres of leasehold properties within the region which will be leased by the Company. This additional acreage has a potential for an additional thirty wells, totaling a possible seventy-five wells.

The Company is delivering the gas through some eleven miles of gathering system constructed to service the wells from its leasehold properties, connecting gas production from its wells via Bourbon County Pipeline LLC. for delivery into the main natural gas transmission pipeline.

As previously announced, the Company has acquired the Roark Prospect in Steuben County, NY. The Company plans to drill an initial well to the Oriskany formation, at approximately 3,500 feet. LiteWave has engaged a Project Engineer and Operator to manage the project, and will apply for a drilling permit over the next few weeks. The Company has called for tender from drilling contractors for this project, to be spudded later this year.

As stated, LiteWave is continuing its acquisition of leasehold acreage in Kansas, and will commit to additional wells over the remainder of the year, with a further twenty targets having been identified. In addition to its recent acquisition in Steuben County, New York, the Company is also reviewing other oil and gas acquisition opportunities within the United States and Europe.

About LiteWave

LiteWave (OTC BB: LTWV) is an oil and gas company that is focusing its current efforts on the development of natural gas prospects in the United States.

Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by LiteWave Corp.) contains statements that are forward-looking, such as statements related to the future anticipated direction of the oil and gas industry, plans for future expansion, various property development activities, planned capital expenditures, future funding resources, anticipated production and reserves growth. These forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated.

 Contact: Ian Lambert President 604 675-7637  Jim Newton 1 877-811-4518 ext 229  Email: info@litewavecorp.com Or visit our Website at www.litewavecorp.com

SOURCE: LiteWave Corp.

Source: MARKET WIRE

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