PRESS RELEASE 9/06/2011
WAVEFRONT TECHNOLOGY SOLUTIONS INC.
TSX-V: WEE
Pink Sheets: WFTSF
For Immediate Release:
September 6, 2011
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Record High Powerwave Installations In Fourth Quarter
28 Powerwave Systems Installed For The 3-Months Ended August 31, 2011
EDMONTON, Alta September 6, 2011- Wavefront Technology Solutions Inc. (“Wavefront” or the “Corporation”, TSX-V: WEE), 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” (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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