EDMONTON, ALBERTA, Nov 30 (MARKET WIRE) --
Wavefront Technology Solutions Inc. ("Wavefront") (TSX VENTURE: WEE)
(PINK SHEETS: WFTSF), a world leader in providing innovative solutions
for increasing oil field production and enhancing the treatment of
contaminated groundwater, is pleased to announce that its Powerwave
technology has nearly doubled initial injection rate results for a CO2
based program in Michigan.
Initial results indicate a Powerwave injection rate of approximately 4.0
MMCF/day versus a non-Powerwave injection rate of approximately 2.0
MMCF/day. These increased injection rates combined with lower injection
pressures were the early objectives for this operator. Powerwave has
achieved both objectives as the increase in injection rate has also been
achieved with slightly lower injection pressures.
"Wavefront continues to generate very positive Powerwave results across a
wide range of applications," said Wavefront President and CEO Brett
Davidson. "This is the second CO2 application where we have seen
Powerwave improve injection rates. As we continue with the Michigan
program, we will look to increased production rates, slower production
decline, and greater ultimate oil recovery."
ON BEHALF OF THE BOARD OF DIRECTORS
WAVEFRONT TECHNOLOGY SOLUTIONS INC.
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 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.
Contacts:
Wavefront Technology Solutions Inc.
D. Brad Paterson
CFO & Director
(780) 486-2222 x224
investor.info@onthewavefront.com
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