Wavefront Technology Solutions Inc V.WEE.H

RE:RE:Remember Core Energy And Their Powerwave Project:

[pandar]

Great results from 2011

Potential for other oil companies to repeat this kind of performance with the proper tax incentives from Michigan gov't?


WAVEFRONT’s POWERWAVE GENERATES 120.6 PERCENT PRODUCTION INCREASE Positive Production Results Seen in Michigan Powerwave Program

EDMONTON, Alta., February 22, 2011/ Wavefront Technology Solutions Inc. (“Wavefront” or the “Corporation”, TSX-V: WEE), a leader in technology development and implementation for improved oil recovery and optimized groundwater remediation is pleased to report positive Powerwave results from a Michigan CO2 flood operational since October 2009 with Core Energy.

The goal of this Powerwave project was to provide the means for broader distribution of the CO2, allowing for more effective oil recovery with the combined strategy. Production data to January 12, 2010 indicates that the production rate has increased by 45.99 barrels of oil per day (“bopd”) to 84.13 bopd or 120.6 percent more than the pre-Powerwave baseline production of 38.14 bopd. Production decline rate has also decreased from a pre-Powerwave rate of 6.1 percent per month to a rate of 2.0 percent per month with Powerwave. Results are from three production wells surrounding the sole CO2 injector.

“As an oil producer Core is continuously looking to optimize operations, increase production, and maximize recovery of original oil in place,” said Core Energy President Robert Mannes. “After 16-months of evaluation Core engineers confirm the above results and will be reviewing other assets for further Powerwave deployment to replicate the production results of the pilot program.”

“The production gains at Core’s operations are within Wavefront’s expectations for optimizing water and CO2 floods and are consistent with outcomes elsewhere,” said Wavefront President and CEO Brett Davidson. “We are looking forward to working with Mr. Mannes and his team on additional Powerwave deployments.”

The Corporation would also like to announce that 90 of the 107 installed Powerwave systems are currently being invoiced. The increase in invoiced systems is related to a reduction of various incentives and inducements offered to clients in the early stage of Powerwave adoption. 

GLTA