Wavefront Technology Solutions Inc. Starts Up Powerwave Installations With Petroleum Development Oman (PDO)
January 26 2012 - 5:51PM
Marketwired
Wavefront Technology Solutions Inc. ("Wavefront" or the "Company")
(TSX VENTURE:WEE) (OTCQX:WFTSF), the leader in fluid injection
optimization for improved performance and profitability in the oil
and environmental sectors, is pleased to announce that the much
anticipated Powerwave installations with Petroleum Development Oman
(PDO) previously announced April 11, 2011 have started effective
January 24, 2012.
PDO is the leading exploration and production company in the
Sultanate of Oman producing approximately 70% of the country's
crude oil production. PDO is owned by the Government of Oman, Royal
Dutch Shell, Total, and Partex.
"PDO is the established leader in technology development and
application for enhanced oil recovery in the region of Middle East
North Africa (MENA). The Powerwave project with PDO represents one
of the highest profile opportunities for Wavefront to date. All oil
producers in the MENA region will be closely monitoring the project
and its results. We are highly confident Powerwave will deliver the
production results generated elsewhere and will open new
opportunities with other clients in the MENA region", stated
Wavefront President and CEO, Brett Davidson.
ON BEHALF OF THE BOARD OF DIRECTORS
WAVEFRONT TECHNOLOGY SOLUTIONS INC.
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 the Company's website is
www.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.
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. Brett Davidson
President and CEO 780-486-2222investor.info@onthewavefront.com
Wavefront Technology Solutions Inc. D. Brad Paterson CFO
780-486-2222investor.info@onthewavefront.com
www.onthewavefront.com
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