Wavefire.com Inc.

November 28, 2007 18:40 ET

Wavefire Extends Drilling Option

CALGARY, ALBERTA--(Marketwire - Nov. 28, 2007) - Wavefire.com Inc. (Wavefire) (NEX BOARD:WAF) announced today that it has extended its drilling option to the first quarter 2008. The Company announced, October 16, 2007, it has entered into a farm-in agreement covering three sections of land in the Acadia Area of Alberta pursuant to which it will earn the farmors' 100% interest (subject to existing encumbrances) in the drill spacing unit and a 65% interest in the balance of the lands by drilling a test well on the lands on or before November 30, 2007.

As part of the agreement, Wavefire has the right to 30 day extensions if required for any reason. The Company has given written notice to the Farmor confirming that an extension is required until December 30, 2007. The Company will continue to provide 30 day written notice until the previously announced debt settlement agreement and farm-in agreement have received required approvals and the test well is drilled.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Wavefire Technologies
    C.W. (Bill) Baker
    (403) 244-5340