SOURCE: Wavefront Energy and Environmental Services Inc.,

May 29, 2007 11:38 ET

Wavefront Energy & Environmental Services Inc. to Apply the Powerwave™ Process in Pennsylvania

EDMONTON, AB--(Marketwire - May 29, 2007) - Wavefront Energy and Environmental Services Inc. (TSX-V: WEE), a leader in technology development and implementation for improved oil recovery and optimized groundwater remediation is pleased to announce that it has entered into a pre-commercialization agreement with ARG Resources Inc. to implement the Powerwave Process in an active waterflood in the Kane Field located in northwestern Pennsylvania.

ARG Resources Inc. ("ARG Resources") is an affiliate of the American Refining Group ("ARG") of Bradford, Pennsylvania. For 125 years ARG's Bradford facility has been a premier refiner of Pennsylvania Grade Crude Oil (PENN-GRADE™) specialties and blender/packager of lubricants including widely known brands Gulf® and Brad Penn®.

Initially three, (3) Powerwave Dragonfly tool systems will be installed at ARG Resources' Kane, Pennsylvania Operations at an approximate total measured depth of 2,500 feet. ARG Resources' interest in Powerwave is to improve water injectivity rates and achieve more uniform water distribution as a means of increasing overall oil productivity in a mature field. If this project is successful, Wavefront, ARG and ARG Resources will pursue an arrangement to jointly market Powerwave to crude oil producers in the Pennsylvania Grade Crude Oil Region comprised of approximately 35,000 square miles, covering a geographic area running from Southwestern New York, through Western Pennsylvania, and into Eastern Ohio and West Virginia.

Wavefront President and CEO Brett Davidson stated, "ARG and ARG Resources are forward-thinking companies working to maximize oil production from their operations and we are very pleased to have entered into this agreement with them. It is becoming increasingly difficult for oil companies to optimally produce mature assets hence the growing need for technology to aid in the extraction of proven oil reserves that are stranded in reservoirs. Powerwave is a significant key to unlocking those proven oil reserves. Success in Kane and the possibility of jointly marketing Powerwave with ARG and ARG Resources in an area as historically important as the Pennsylvania Crude Oil Region represents a sizable opportunity for Wavefront."

Mr. Davidson further commented, "Physical limitations on water injection directly affect oil recovery rates and ultimate recoverable volumes. If water injection rates can be increased and greater uniformity of that water is achieved in the reservoir it should transpire into both improved oil rates and increased ultimate oil recovery. Given the importance of water injection rates on oil recovery it is noteworthy that the success of the Dragonfly tool systems for improving water injectivity under difficult flow conditions has not only been a focal point of the Wavefront/ARG Resources agreement but is also the basis for various discussions on the application of Powerwave with a number of oil producers across North America. Wavefront endeavors to report on those activities in the near future."

About Wavefront Energy and Environmental Services Inc.

Wavefront is a technology-based company with a focused, strategic plan to leverage the value of our intellectual property in order to maximize oil production recovery operations, as well as provide additional solutions for environmental applications.

ON BEHALF OF THE BOARD OF DIRECTORS

WAVEFRONT ENERGY AND ENVIRONMENTAL SERVICES INC.

"D. Brad Paterson" (signed)

D. Brad Paterson, CFO & Director

Cautionary Disclaimer - Forward-Looking Statements

Certain statements contained herein regarding the Company and its operations constitute "forward-looking statements" within the meaning of the United Sates 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 update any "forward-looking statements."

www.onthewavefront.com

THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES THE CONTENTS OF THIS RELEASE WHICH WAS PREPARED SOLELY AT THE DISCRETION OF MANAGEMENT

Contact Information

  • For further information please contact:
    D. Brad Paterson
    CFO
    Tel: 780-486-2222 x224
    Email Contact