I finally reentered here as I don't see hardly any downside,and a Huge upside-
I liked the last PR as well-
Wavefront adds leading Calgary oil-industry executive to Board of Directors
EDMONTON, Alta., March 14, 2011/ Wavefront Technology Solutions Inc. (“Wavefront” or the “Corporation”, TSX-V: WEE), a leader in fluid injection optimization for improved performance and profitability in the oil and environmental sectors is pleased to announce that John Zahary has joined Wavefront’s Board of Directors. Mr. Zahary holds a B.Sc. in Mechanical Engineering from the University of Calgary and a Masters of Philosophy in Management from the University of Oxford.
Mr. Zahary brings extensive senior management experience in the upstream and integrated oil and natural gas industry to Wavefront. He is currently the President and Chief Executive Officer of Harvest Operations Corp., a subsidiary of the Korean National Oil Corporation.
Mr. Zahary has served in a number of senior management positions, including executive roles as President & Chief Executive Officer of Viking Energy, prior to its merger with Harvest Energy Trust, and President of Petrovera Resources prior to a takeover by Canadian Natural Resources Ltd. and Penn West Petroleum Ltd. Mr. Zahary has also held senior positions at PanCanadian Petroleum Limited, Canadian Oil Sands Trust, Gulf Canada Resources Ltd., Imperial Oil Limited and Texaco Canada Resources. Mr. Zahary is a member of the Alberta Energy Minister’s Oil and Gas Economics Advisory Council, a member of the Alberta Securities Commission Petroleum Advisory Committee, the Chairman of the Western Canada Rhodes Scholarship Selection Committee, and a member of the Miller Thomson Foundation National Scholarship Board of Governors as well as other business and volunteer involvements. He has also served as a Director and President of the Alberta Chamber of Resources, a Governor and Officer of the Canadian Association of Petroleum Producers, Chairman of the Petroleum Technology Research Centre, and a Director of the Canadian Heavy Oil Association.
Mr. Zahary commented, “Wavefront’s technologies have successfully demonstrated their capability to enhance recovery from oilfields and accelerate remediation from contaminated sites. I look forward to assisting the Management team as it moves forward in disseminating the technology more broadly and growing the Corporation in the years ahead.”
“Interest and demand for Wavefront’s technology continues to grow around the world, and John’s extensive strategic and operational experience will help us maximize the potential of these exciting opportunities,” said Wavefront Chairman Steve Percy. “He is joining the Wavefront Board at a pivotal time, and his insights and advice will be extremely valuable in shaping our path forward and guiding our growth.”
In addition, the Company also wishes to announce that it will file, in accordance with TSX Venture Exchange policy, a Summary Form disclosing the granting of an aggregate of 75,000 incentive stock options pursuant to the Wavefront's Stock Option Plan. The stock options are being issued to a director of the Company. The options will be exercisable at a price of $0.94 per share, or other such other price as allowed by the TSX Venture Exchange, for a period of five years. In accordance with Wavefront's Stock Option Plan and Exchange policy, the incentive stock options are subject to a hold period of 4 months and vesting period of 18 months.
On behalf of the Board Of Directors,
“D. Brad Paterson” (signed)
D. Brad Paterson, CFO and 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.
For further information please contact:
Brett Davidson, President and CEO or D. Brad Paterson, CFO at 780-486-2222 or write to us at investor.info@onthewavefront.com
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