EDMONTON, ALBERTA--(Marketwire - Oct 4, 2012) - Wavefront Technology Solutions Inc. ("Wavefront" or "the Corporation") (TSX VENTURE:WEE) (WFTSF), the leader in fluid injection optimization for improved performance and profitability in the oil and environmental sectors, has retained Dian Griesel Inc. ("DGI") to serve as its US-based investor relations and public relations agency.
DGI will take over from Investor Relations Group, who had been working on the Corporation''s behalf between April and August, 2012. DGI''s investor relations team will continue with past efforts targeting the investment bank, broker and the retail community to increase investor awareness of Wavefront''s patented Powerwave process for enhanced oil recovery, as well as its patented Primawave process for aiding groundwater remediation. Concurrent with that effort will be outreach campaigns targeting the media-at-large via traditional, print, cable television, radio, and internet outlets.
The terms of the engagement require that Wavefront compensate DGI $12,000US per month. The term of engagement is six (6) months, but may be terminated by either party with thirty (30) days written notice.
The Corporation would also like to announce the launch of its Powerwave Trailblazer™ Agitator as the initial component of Wavefront''s comprehensive pulsed fluid drilling system, the central component of the Trailblazer is technology acquired in the Vortech intellectual property acquisition, as announced January 3, 2012. Wavefront continues to diversify its technology offerings centered on its pulsed fluid expertise and tool suite. In the oil and gas sector the three pillars of diversification and future revenue generation include, enhanced oil recovery; well stimulation and completions; and, integrated drilling systems.
"As horizontal well profiles become more complex and the bounds of extended reach wells explored agitator''s have developed into an integral part of drilling and we are very excited about the introduction of Wavefront''s Powerwave Trailblazer Agitator", commented Brett Davidson, President and CEO Wavefront. The Oil and Gas Journal reported that 15,100 wells would be drilled in Canada in 2012 with 55% or 8,305 of those wells being horizontal. Wavefront''s market research indicates the Canadian agitator rental market to be on the order of "$60 million and growing. The increasing number of horizontal wells in Canada and elsewhere provides a considerable revenue opportunity as the Corporation gains greater experience and client confidence with the Powerwave Trailblazer Agitator."(1)
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 on the OTCQX under the symbol WFTSF. 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.
(1) January 9, 2012 Oil and Gas Journal