TriAxon Oil Corp Deploying Six Powerwave Systems to Generate More Oil Production From Its Operations
2010年11月9日 - 2:18AM
Marketwired
Wavefront Technology Solutions Inc. ("Wavefront" or the "Company")
(TSX VENTURE: WEE) (PINK SHEETS: WFTSF), a world leader in
providing innovative solutions for increasing oil field production
and enhancing the treatment of contaminated groundwater is pleased
to announce that Alberta based TriAxon Oil Corp will deploy six
Powerwave systems to increase water injection rates and unlock more
oil from its production operations. Under the terms of the
agreement the field location and financial terms cannot be
released.
"We are very excited about this opportunity to demonstrate to
TriAxon how the Powerwave-driven flooding approach will unlock oil
from tight porous rock that may otherwise have remained stranded"
said Wavefront President and CEO, Brett Davidson. "One of
Powerwave's strengths is its multiple tool designs, which allow it
to carry out operations across a wide and varied range of reservoir
conditions. Powerwave is also more efficient than traditional
flooding methods and has a growing track record of improving
production rates and slowing production decline."
"We believe significant upside exists with the introduction of
non-steady state and transient injection to existing enhanced oil
recovery schemes" said TriAxon Vice President of Engineering,
Michael Scase.
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
http://www.onthewavefront.com.
ON BEHALF OF THE BOARD OF DIRECTORS
WAVEFRONT TECHNOLOGY SOLUTIONS INC.
D. Brad Paterson, CFO & Director
Cautionary Disclaimer - Forward Looking Statements
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.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Contacts: Wavefront Technology Solutions Inc. D. Brad Paterson
CFO 780-486-2222 x224 investor.info@onthewavefront.com
www.onthewavefront.com
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