Wavefront Technology Solutions Inc.

Wavefront Technology Solutions Inc.

February 27, 2012 10:05 ET

Colombian Producer Equion Approves Powerwave Stimulations Wavefront to Conduct Five Single Well Powerwave Workovers

EDMONTON, ALBERTA--(Marketwire - Feb. 27, 2012) - Wavefront Technology Solutions Inc. ("Wavefront" or the "Corporation") (TSX VENTURE:WEE) (OTCQX:WFTSF), the leader in fluid injection optimization for improved performance and profitability in the oil and environmental sectors, would like to announce that Equion Energia Limited will initially run 5 Powerwave stimulations in their Cusiana production field.

Equion is jointly owned by the Colombian oil and gas leader, Ecopetrol S.A., and Canadian producer Talisman Energy. Equion produces approximately 45 thousand barrels of oil per day and 270 million cubic meters of gas. Equion has proved oil reserves of 94 million barrels. Equion has reported that its goal in the next 10 years is to become the most important oil and gas producer in Colombia. To meet this challenge Equion is looking to apply the most innovative production technologies available in the industry and is planning to invest approximately US $2.5 billion during that time frame.

A single well stimulation, or workover, is a remedial operation performed on a producing well to restore or enhance productivity. In many instances a chemical is pumped into the well to stimulate the producing interval. However, during this operation the importance of placing the chemical efficiently is often underestimated. A single well stimulation is generally on the order of one day compared to flooding operations (i.e. waterflooding) that can last much more than a decade.

"Well stimulation is a multi-billion dollar per year global business and as the leader in injection technologies and processes there is considerable revenue potential for Wavefront in the stimulation market, said Wavefront President and CEO, Brett Davidson." Wavefront is very pleased to add Equion as its first Colombian client and we are very confident that Powerwave will show significant economic benefit in both well stimulation and enhanced oil recovery operations. Wavefront embraces the opportunity to assist Equion in its efforts to become the most important oil and gas producer in Colombia."



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.

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.

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