Wavefront Technology Solutions Inc V.WEE.H

Alternate Symbol(s): WFTSF

Energy Oil & Gas Equipment & Services

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.

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Wavefront Technology Solutions Inc > News out

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Comment by AboveBoardon Apr 30, 2022 1:39pm

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Post# 34644960

RE:News out

On a positive note, ex. Kingdom of Saudi Arabia revenue generated from 3 different oil field service companies! UAE and Iraq produced revenue too.

Of the revenues for the reporting quarter, $521,435 (February 28, 2021 - $374,863) relates to Powerwave stimulations, with $481,866 of those revenues derived from the Middle East, an increase of 50% or $160,921 over the revenues for the comparative quarter. Although the increase in Powerwave revenues in the Middle East revenues was below expectations, the growth and where revenues were generated may indicate a more positive near-term outlook in those revenues of:
- $124,298 of revenues generated in the Kingdom of Saudi Arabia were from three different oil field service companies, including revenues from a multi-national oil field Distributor (as announced September 1, 2021);
- $39,144 was generated in the United Arab Emirates ("UAE"); and
- $30,499 was generated in Iraq.