Wavefront Energy & Environmental and Halliburton Sign Agreement for Pressure Pulse Technology

ARCHIVED 2002–2016: Originally distributed via the eWire press wire service. Preserved as historical record.

Wavefront Energy & Environmental and Halliburton

Sign Agreement for Pressure Pulse Technology

SUBSCRIBE/UNSUBSCRIBE |

Corporate Responsibility

Science & Technology

Syndication Partners

**************************************************************************

E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE

**************************************************************************

Wavefront Energy & Environmental and Halliburton

Sign Agreement for Pressure Pulse Technology

Innovative Technology Improves Oil Recovery,

Oil Well Stimulation, and Oilfield Related Disposal

CANADA, Jul. 19 -/E-Wire/-- Wavefront Energy & Environmental Services, Edmonton, Alberta, (TSX.V: WEE) and Halliburton's Energy Services Group (NYSE: HAL) have entered into multi-year collaboration and licensing agreements to jointly research, develop, and implement Pressure Pulse Technology (PPT) systems. The license agreement will provide Halliburton with a nonexclusive license in United States and Canada and an exclusive license for all other parts of the world for commercialization of Wavefront's patented PPT processes. The processes are used for the improvement of oil recovery, oil well stimulation, and oilfield-related disposal.

"The development of this technology fits with our corporate mission of creating sustainable value by delivering outstanding service that helps our customers succeed," said Jim Prestidge, Vice President of Halliburton's Production Optimization Division. "We believe the innovative technology that Wavefront brings, coupled with our global technical expertise, will accelerate the development and acceptance of pressure pulse technology as a method for sustaining reservoir performance."

Brett Davidson, President and CEO of Wavefront, said: "We are very pleased to be working with a company such as Halliburton that is recognized globally for its capabilities, expertise and ability to deliver results for its customers. These agreements are very timely and present a significant opportunity for the energy industry given international events unfolding with respect to oil production, and the security of domestic oil supplies both in Canada and the United States. Accelerated development and market penetration of PPT will be greatly enhanced under the agreements with Halliburton."

PPT was developed in Canada and has already been applied successfully. The technology entails using a downhole tool to create a low amplitude pressure wave in the wellbore. The amplitude and frequency of the wave can be varied to accomplish various tasks. PPT has been applied for production well stimulation in a CHOPS (cold heavy oil production with sand) strategy where sand is intentionally co-produced with the heavy oil. Pulsing has been applied in injector wells for improving the efficiency of waterflood patterns and has shown indications of increased oil production and decreased water cut. Additional potential applications include improving the effectiveness of matrix acidizing and diversion.

About Wavefront Energy and Environmental Services Inc.

Wavefront develops, markets, and licenses proprietary technologies in the energy and environmental sectors. The Company's Pressure Pulse Technology for fluid flow optimization has been demonstrated to increase oil recovery. Within the environmental sector, PPT accelerates contaminant recovery and improves in-ground treatment of groundwater contaminants thereby reducing liabilities and restoring the site to its natural state more rapidly. Wavefront website is www.onthewavefront.com.

WAVEFRONT ENERGY AND ENVIRONMENTAL SERVICES INC.

D. Brad Paterson, CFO

80-486-2222 x224 Tel

[REDACTED-EMAIL]

Andrew Kaplan, Investor Relations

http://www.onthewavefront.com

**************************************************************************

To Transmit Your News Over E-Wire, visit http://www.ewire.com or

call 1-[REDACTED-PHONE]. E-Wire Is Broadcast To Millions Of Readers Worldwide

**************************************************************************