ECOPETROL POWERWAVE NEPTUNE VALVE INSTALLATIONS
COMMENCE
CONTRACT
WORTH APPROXIMATELY US $600,000
EDMONTON, Alta., April 29, 2013 Wavefront Technology Solutions Inc.
(TSX-V: WEE; OTCQX: WFTSF) a developer of leading-edge technology
for fluid injection optimization in the primary focus areas of
performance drilling; well stimulation; and mature field
revitalization is pleased to announce that Powerwave Neptune valve
installations with Ecopetrol, Colombia have now
commenced.
Ecopetrol is the largest petroleum company in Colombia and is one
of the 25 largest petroleum companies in the world. Ecopetrol
operates 163 production fields in Colombia, directly and/or in
association with other important domestic or multinational
operators. The approximate US $600,000 Powerwave contract is being
led by the Flow Assurance Group of Ecopetrol.
The Neptune is an innovative pulsating selective
injection waterflood regulator valve. Waterflood regulator valves
are designed to inject water into a desired zone but are often
plagued by scaling issues which inhibit water injection. This type
of injection system is widely used in South America and Asia with
as many as 21 valves in a single water injection well.
“We are very confident that the Powerwave
Neptune valve
will generate the anticipated
results
for
Ecopetrol
leading to wide spread use,” said Wavefront President and CEO Brett
Davidson. “With approximately 17,000 water regulator valves
installed in
South America
this represents a significant opportunity for Wavefront in the
region.”
ON BEHALF OF THE BOARD OF DIRECTORS
WAVEFRONT TECHNOLOGY SOLUTIONS INC.
“D. Brad Paterson” (signed)
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 on the OTCQX under the symbol WFTSF. The Company's
website is www.onthewavefront.com.
For further information please contact:
Cora Klein, Communications Co-ordinator at 780-486-2222 ext. 229 or
write to us at investor.info@onthewavefront.com
Cautionary Disclaimer – Forward Looking
Statements
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.
©2013
Wavefront Technology Solutions Inc. All rights reserved. From Bit
To Last Drop™, Powerwave™ and Primawave™ are registered trademarks
of Wavefront Technology Solutions Inc.
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