Mr. D. Brad Paterson reports
WAVEFRONT COMPLETE PAN AMERICAN ENERGY INSTALLATIONS
AND ISSUES BOARD OPTIONS
Wavefront Technology Solutions Inc. has completed the installation of Powerwave water flood tools with Pan American Energy in PAE's Cerro Dragon field in Argentina. PAE is the second largest oil producer in Argentina and is jointly owned by BP and Bridas Corp.
The corporation also announces that it will file, in accordance with TSX Venture Exchange policy, a summary form disclosing the stock option grant for an aggregate of 75,000 shares pursuant to Wavefront's stock option plan. The stock option is being issued to a new director of the company. The option will be exercisable at 41 cents per share, or other such other price as allowed by the TSX Venture Exchange, for a period of five years. In accordance with Wavefront's stock option plan and exchange policy, the incentive stock option is subject to a hold period of four months and a vesting period of 18 months.
Continuous innovation is at the core of Wavefront's technology offerings in the oil and gas and environmental sectors. The corporation is pleased to announce that Alberta Venture Magazine recently named Wavefront one of the 25 most innovative organizations.
We seek Safe Harbor.
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