Wavefront Technology Solutions Inc.: Leading Oil Producer Pluspetrol S.A. Using Powerwave to Increase Production in Argentina
24 Mai 2011 - 10:28PM
Marketwired Canada
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Wavefront Technology Solutions Inc. ("Wavefront" or the "Corporation") (TSX
VENTURE:WEE) (PINK SHEETS:WFTSF), a leader in fluid injection optimization for
improved performance and profitability in the oil and environmental sectors, is
pleased to announce that Powerwave will be deployed in Argentina with Pluspetrol
S.A. to increase production at its El Corcobo Norte oil field. Pluspetrol S.A.
is the fourth largest oil producer in Argentina and has additional operations in
Peru, Bolivia, Venezuela, Colombia, and Angola. Under the terms of the agreement
the financial consideration paid, tool count, etc. will not be released.
"We are very pleased to add Pluspetrol S.A., Operator of UTE CNQ-7A, to our
growing list of clients and we are confident that Powerwave will bring positive
production benefits to the El Corcobo Norte operations," said Wavefront
President and CEO Brett Davidson. "Consistently strong Powerwave results
continue to drive new sales and Wavefront is negotiating agreements with
additional potential clients as well as working to expand current Powerwave
programs."
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.
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