Weatherford Colombia To Employ Powerwave Stimulation Methods - Wavefront records number of well stimulations
EDMONTON, Alta., November 6, 2013 Wavefront Technology Solutions Inc. (Wavefront or the Corporation, TSX-V: WEE; OTCQX: WFTSF) a developer of leading-edge technology for fluid injection optimization is pleased to announce that through its marketing agent that it has entered into an agreement with Weatherford Colombia Ltd (“Weatherford”) to provide Powerwave for an initial 48 well stimulations.
Under the terms of the agreement Wavefront will provide Powerwave tools to be used in Weatherford’s Wec-Flow process. Wec-Flow is a highly successful innovative stimulation approach to treat wells that have experienced production decline and encompasses a Weatherford proprietary surfactant/solvent/dispersant product and Wavefront’s multi-patented injection process.
Wavefront would also like to announce that for the months of September and October 2013 the Corporation conducted 166 Powerwave well stimulations. This is the largest number of stimulations recorded for a two month period in Wavefront’s history.
“We are very pleased to be working with Weatherford who have demonstrated in Mexico and Colombia the exceptional performance Powerwave achieves in placing chemicals in difficult well conditions,” said Wavefront President and CEO Brett Davidson. “Wavefront’s focused strategy to grow the well stimulation segment of its product line is yielding positive results and the Corporation will continue to open new markets and opportunities through reputable services providers such as Weatherford.”
ON BEHALF OF THE BOARD OF DIRECTORS
WAVEFRONT TECHNOLOGY SOLUTIONS INC.
“D. Brad Paterson” (signed)
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 on the OTCQX under the symbol WFTSF. The Company's website is www.onthewavefront.com.
For further information please contact:
Cora Klein, Communications Co-ordinator at 780-486-2222 ext. 229 or write to us at investor.info@onthewavefront.com.
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