Letourneau has been a big fan of their technology for
some time, even worked for the company for a while, and
when we asked Jim for some comments given the low
stock price, he came back to us with the following comments,
and even led the piece in the most recent speculator
with the following comments.
He wrote, “I’ll keep it simple, Wavefront works. Wavefront
has released some of the results from their recent
projects in technical presentations and marketing materials.
There have been no surprises. The Powerwave
process has fulfilled its promise in several fields.”
East Alberta:
175% increase in production rate at the project level.
70% reduction in decline rate from 3.5% to 1% per
month.
Powerwave has delivered significant improvements
in sweep efficiency that has lead to significantly
increased reserves.”
Texas:
Payback for the project in three months.
After 10 months production is still increasing.
Oil cut increase of 23%.
“They have developed new tools that cut the implementation
cost from $40,000 to $2000/well. Wavefront
now has incontrovertible proof that implementing Powerwave
increases production rates AND reserves. It pays
for itself in a matter of months. You want to have a few
shares tucked away in a place where you can’t sell
them.”
Primawave Tool installed at New York Refinery Site.