There is news on my WEE.V C3.34 +.09 I see: Wavefront Energy & Environmental Services Inc. - Tracer survey reveals outstanding injection results Wednesday February 15, 12:15 pm ET
TSX-V: WEE Pink Sheets: WEESF www.onthewavefront.com EDMONTON, Feb. 15 /CNW/ - Wavefront Energy and Environmental Services Inc., a provider and licensor of its proprietary DeepWave(SM) (http://onthewavefront.com/dw_what-is-deep-wave.htm) Technology for improved oil recovery and groundwater remediation is pleased to provide an update on the second California DeepWave(SM) well stimulation previously reported on January 31, 2005. The well, completed in naturally fractured shale, has 600 feet of net perforated interval with 4 perforations per foot. A two-stage acid stimulation was required for economic production. Previous acid treatments using several other techniques resulted in limited success. Two tracer fluids were also injected during the stimulation to determine zonal coverage and depth of penetration. ADVERTISEMENT
Post injection well logging indicated that both stages of acid and both tracer fluids were displaced across 100% of the perforations. The depth of penetration was determined to be a minimum of 6 inches with the maximum unknown given the measuring capability of the logging tool was limited to 24 inches. No other placement technique has previously enabled treatment of all perforations. The Company, its licensed service provider, and the operator are awaiting the production response.
Wavefront President and CEO Brett Davidson stated, "The importance of being able to inject with pin-point accuracy cannot be understated. In most instances tracer studies indicate that only 40% to 60% of perforations take fluids during liquid injection. To have 100% of the perforations take fluid is unprecedented and provides a large economic advantage to the producer. Increased efficiencies are a strong indicator increased overall oil production. The Company and its licensed providers of DeepWave(SM) are clearly developing a competitive advantage with respect to injection processes. The positive outcomes we have achieved since 1998 and continue to report on support this position. As results become more widely disseminated we anticipate increased global demand for the service."
About Wavefront Energy and Environmental Services Inc.
Wavefront develops, markets, and licenses proprietary technologies in the energy and environmental sectors. The Company's DeepWave(SM) Technology for fluid flow optimization has been demonstrated to increase oil recovery. Within the environmental sector, DeepWave(SM) Technology accelerates contaminant recovery and improves in-ground treatment of groundwater contaminants thereby reducing liabilities and restoring the site to its natural state more rapidly.
Certain statements contained herein regarding the Company and its operations constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plan, objectives, assumptions or expectations or future performance, are "forward-looking statements". 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. The Company expressly disclaims any obligation to up-date any "forward-looking statements".
THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES THE CONTENTS OF THIS RELEASE WHICH WAS PREPARED SOLELY AT THE DISCRETION OF MANAGEMENT
For further information
D. Brad Paterson, CFO, (780) 486-2222 x224 Tel, investor.info@onthewavefront.com
-------------------------------------------------------------------------------- Source: Wavefront Energy and Environmental Services Inc.
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