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Wavefront Technology Solutions Inc V.WEE.H

Alternate Symbol(s):  WFTSF

Wavefront Technology Solutions Inc. is engaged in the advancement of dynamic fluid injection technology for oil and gas well stimulation and improved/enhanced oil (IOR/EOR) recovery. Through its Powerwave technology, it provides the oil and gas industry to place fluids into the reservoir. The dynamic action of Powerwave’s fluid pulses diverts injected fluids away from established flow paths, achieving better fluid distribution. Its patented Powerwave process is an injection technology that improves the flow of fluids in geological materials, including sedimentary soils and fractured rock. These materials are composed of a solid matrix and pore structure, which contain fluids such as oil and gas. The Primawave process is a method for aiding in-ground environmental remediation clean-up strategies in contaminated sites. Primawave provides the environmental sector with a solution for aiding in the clean-up of contaminated sites. It deals directly with exploration and production companies.


TSXV:WEE.H - Post by User

Post by Atlanticpro1on Nov 16, 2021 5:34pm
257 Views
Post# 34133941

Breaking News!!!

Breaking News!!!

For Immediate Release

Texas Client Issues Additional Well Stimulation Package 

EDMONTON, Alta., November 16, 2021, Wavefront Technology Solutions Inc. (Wavefront or the Company, TSX-V: WEE; OTCQB: WFTSF), a technology service provider offering the oil and gas industry revolutionary technology that optimizes oil and gas recovery while minimizing the environmental impact of operations is pleased to share that the Company received an additional Powerwave-related well stimulation package from a Texas-based client with an approximate value of US $130,000.

 

The client cannot be named due to confidentiality provisions. Revenues will be recognized over the time-period the stimulations or individual performance obligation(s) occur. The client continues to have an extensive backlog of well stimulations and are continually developing well stimulation programs for future execution.

 

“Although the commencement of previously announced work with this Texas-based client has been delayed due to the client’s supply chain issues, we are very happy to receive yet another well stimulation package that adds to our growing backlog,” said Wavefront President and CEO Brett Davidson. “Given Wavefront’s service quality and technology positive record the Company continues to attract attention from numerous potential clients, and we are optimistic that we will add additional customers prior to calendar year end.” 

About Wavefront

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’’, “working towards” 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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