EDMONTON, ALBERTA--(Marketwire -08/30/12)- Wavefront Technology Solutions Inc. (Wavefront or the Company), (WEE.V) (WFTSF), the global leaders in fluid injection optimization for improved performance and profitability in the oil and gas and environmental sectors, is pleased to announce that a repeat Powerwave client has indentified and provided installation requirements for 28 new Powerwave-driven water injectors. The current implementation schedule is slated to commence fall 2012. A confidentiality agreement prevents the client's name, terms and conditions, and field location from being divulged.
"Powerwave is a game changing technology that improves a producer's oil production rates, extends field life, and maximizes asset value," said Wavefront President and CEO Brett Davidson. "This 28 well Powerwave expansion is a clear demonstration of the producer recognizing Powerwave's strengths in providing long-term production benefit towards increased estimated ultimate oil recovery."
ON BEHALF OF THE BOARD OF DIRECTORS
WAVEFRONT TECHNOLOGY SOLUTIONS INC.
D. Brad Paterson, CFO & Director
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.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.