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wavefront technology solutio (WEE) Snapshot

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wavefront technology solutio (WEE) Details

Wavefront Technology Solutions Inc. designs, develops, and licenses technologies for oil well stimulation, secondary oil recovery, and environmental groundwater remediation applications in the United States and Canada. The company offers Powerwave process, an injection technology that improves the flow of fluids in geological materials, including sedimentary soils and fractured rock; and Primawave process, a method for aiding in-ground environmental groundwater remediation clean-up in contaminated sites. It also develops oil and gas properties, as well as rents tubing pumps and bailers for oil field applications. The company was formerly known as Wavefront Energy and Environmental Services Inc. and changed its name to Wavefront Technology Solutions Inc. in March 2009. Wavefront Technology Solutions is headquartered in Edmonton, Canada.

Founded in 1980

wavefront technology solutio (WEE) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$275.0K
Chief Financial Officer, Secretary, Treasurer...
Total Annual Compensation: C$200.0K
Compensation as of Fiscal Year 2013.

wavefront technology solutio (WEE) Key Developments

Wavefront Technology Solutions Inc. Wins $533,000 Powerwave Contract

Wavefront Technology Solutions Inc. announced that Pan American Energy LLC, has awarded Wavefront a renewed, twelve month, Powerwave contract worth approximately $533,000. The contract renewal with PAE is for the Los Flores Norte - Cerro Dragon field in Argentina and expands the existing project from 3 to 7 Powerwave-driven water injectors.

Wavefront Wins USD 1.3 Million Powerwave Contract from Ecopetrol

Wavefront Technology Solutions Inc. announced that Ecopetrol has awarded Wavefront (through its Colombian Agent, Gesca Corp. Colombia S.A.S.) a new contract worth approximately USD 1.3 Million to implement a suite of Powerwave applications. The application of Powerwave for Ecopetrol features Wavefront's pulsating selective waterflood regulator valve; Wavefront's conventional waterflood tool; and, Wavefront's well stimulation tools for near wellbore clean-up and deep fluid penetration.

Wavefront Technology Solutions Inc. Reports Audited Consolidated Earnings Results for the First Quarter Ended November 30, 2013

Wavefront Technology Solutions Inc. reported audited consolidated earnings results for the first quarter ended November 30, 2013. For the quarter, the company reported revenues of $1,646,640, an increase of $117,055 over the comparative period in 2012 that recognized revenues of $1,529,585. Revenue attributed only to Powerwave product lines were $1,408,624, an increase of $289,554 or 25.9% increase over revenues in the comparative period of $1,119,070. The basic and diluted net loss for the quarter decreased by $221,672 to $783,391 or $0.0094 per share compared to $1,005,061 or $0.0121 per share in 2012. Cash used in operating activities decreased $365,988 from fiscal year end 2013 to $800,846. However, funds used in operations increased by only $97,784 to $301,246 from the funds used in operations for prior quarter ended August 31, 2013, of $203,462.


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