Wavefront Technology Solutions Inc.

Wavefront Technology Solutions Inc.

August 02, 2011 16:34 ET

Wavefront Technology Solutions Inc.: Powerwave Brings Production Boost to Harmattan Unit

Daily Oil Production at A Triaxon Operated Property Increases by 53% or 70 Barrels

EDMONTON, ALBERTA--(Marketwire - Aug. 2, 2011) - Wavefront Technology Solutions Inc. ("Wavefront" or the "Corporation") (TSX VENTURE:WEE), a leader in fluid injection optimization for improved performance and profitability in the oil and environmental sectors, is pleased to announce a production update for the 6 Powerwave installations at the TriAxon operated Harmattan Unit.

Installation of 6 Powerwave systems in the Harmattan Unit occurred in December 2010. Production from the Harmattan Unit is from the Viking formation, a tight oil reservoir where maximizing oil productivity has been historically difficult. Incremental oil production attributed to Powerwave for the 6 producing patterns consisting of 27 production wells as at July 8, 2011 is 70 barrels of oil per day; a 53% increase above pre-Powerwave base line production. Using a net back of $60 per barrel the incremental production represents a daily cash flow increase of $4,200 to the Harmattan Unit.

"We are very pleased with the results at Harmattan and we are confident Powerwave will continue to provide production benefits and bring economic value to the Harmattan Unit," said Wavefront President and CEO Brett Davidson. "Though the initial production gains are notable, with optimization we expect results to further improve. Powerwave has repeatedly, over a wide range of reservoir conditions, provided similar or better production gains at other locations throughout North America."

"We are very encouraged by these early time results and therefore we are looking forward to realizing further upside through optimization and expansion within the Harmattan Pool", said TriAxon Vice President of Engineering, Michael Scase.



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.

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