July 26, 2004

Wavefront signs licensing agreement with Halliburton

EDMONTON, ALTA-Wavefront Energy and Environmental Services and Halliburton's Energy Services Group have signed multi-year collaboration and licensing agreements to jointly research, develop and implement Wavefront's 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 the patented PPT processes. 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 suit specific tasks. PPT 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. More information is available on the Wavefront Web site, www.onthewavefront.com.
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