Wavefront Technology Solutions Inc.: Record High Powerwave Installations in Fourth Quarter

NOT FOR DISSEMINATION IN THE UNITED STATES OR DISTRIBUTION TO UNITED STATES NEWS
WIRE SERVICES


Wavefront Technology Solutions Inc. ("Wavefront" or the "Corporation") (TSX
VENTURE:WEE) (PINK SHEETS:WFTSF), the leader in fluid injection optimization for
maximizing reservoir oil recovery, is pleased to announce that 28 Powerwave
systems were installed during the three months ended August 31, 2011, marking a
record high for a fiscal quarter.


"This is a yet another significant accomplishment for Wavefront and we are very
pleased with the number of Powerwave installations achieved in the fourth fiscal
quarter ended August 31, 2011," said Wavefront President and CEO Brett Davidson.
"The growing numbers of installations throughout North America are providing
operators first-hand experience with Powerwave's ability to increase oil
production, slow the rate of production decline, reduce operational expenses on
a per barrel basis, and extend field economic life. There is a strong and
growing commercial pipeline for Powerwave with producers who have a focus on
improved and enhanced oil recovery." 


The Corporation would also like to announce that the Powerwave installations
with Pluspetrol S.A. at its El Corcobo Norte oil field, Argentina have
commenced. The El Corcobo Norte field has similar geological properties to that
of the Wainwright oil field in Alberta where the Corporation has had significant
Powerwave success. The Corporation has considerable opportunity in Argentina
where 36.7% of total oil production is associated with waterflooding activities.



ON BEHALF OF THE BOARD OF DIRECTORS

WAVEFRONT TECHNOLOGY SOLUTIONS INC.

D. Brad Paterson, CFO & Director

About Wavefront: 

Wavefront is a technology based, world leader in fluid injection technology for
improved/enhanced oil recovery and groundwater restoration. Wavefront publicly
trades on the TSX Venture Exchange under the symbol WEE and the Company's
website is www.onthewavefront.com.


Cautionary Disclaimer - Forward Looking Statement

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", "believe", "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.

Wavefront Technology Sol... (TSXV:WEE)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024