Wavefront Adds 10-Well Powerwave Stimulation Campaign in India
May 04 2018 - 5:05PM
Wavefront Technology Solutions Inc. (Wavefront or the Company)
(TSX-V:WEE) (OTCQX:WFTSF) a global leader in the advancement of
dynamic fluid injection technology for oil and gas well stimulation
and Improved/Enhanced oil (“IOR/EOR”) recovery is pleased to
announce the Company, through its local distributor, has expanded
its global reach with the award of an initial 10-well Powerwave
well stimulation campaign in India.
The 10-well campaign consists of
Powerwave-driven acid stimulations on various well types and in
certain cases, complex well completions where Powerwave has not
been previously utilized. The stimulation campaign has an
approximate value of US $258,000. To date three wells have been
chosen for stimulation and Powerwave modeling and operational
programming has been completed. The timing of the additional well
stimulations will soon be set and the initial work is anticipated
to commence within 60 days.
“The global well stimulation market is a
multi-billion dollar1 per year business and Wavefront is quickly
becoming internationally recognized for its leading edge Powerwave
custom stimulation approach to optimized fluid placement,” said
Wavefront President and CEO, Brett Davidson. “We are very pleased
to add this new client to our growing roster of satisfied customers
and are also pleased they have expressed great confidence in
Powerwave to address the challenging reservoir conditions they
incur.”
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:
D. Brad Paterson, CFO at 780-486-2222 or write
to us at investor.info@onthewavefront.com
Cautionary Disclaimer – Forward Looking
Statement
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.
©2018 Wavefront Technology Solutions Inc. All
rights reserved.From Bit To Last Drop™, WaveAxe™, Powerwave™ and
Primawave™ are registered trademarks of Wavefront Technology
Solutions Inc., or its subsidiaries, or affiliates.
1 Well Stimulation Materials - Demand and Sales Forecasts,
Market Share, Market Size, Market Leaders (published 06/2014, 335
pages), The Freedonia Group, Inc.
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.
Wavefront Technology Sol... (TSXV:WEE)
Historical Stock Chart
From Dec 2024 to Jan 2025
Wavefront Technology Sol... (TSXV:WEE)
Historical Stock Chart
From Jan 2024 to Jan 2025