Wavefront Technology Solutions Inc. (Wavefront or the Company) (TSX VENTURE:WEE)(OTCQX:WFTSF), an Oil Field Service ("OFS") provider focused on enhancing hydrocarbon recovery through the lifecycle of a production asset, wishes to announce its financial results for the second quarter ending February 28, 2017.
The financial highlights for the reporting period are as follows:
The above financial highlights should be read in conjunction with the unaudited condensed consolidated interim financial statements and the management discussion and analysis of results for Wavefront for the second quarter ended February 28, 2017, which were filed on SEDAR on April 28, 2017.
Subsequent to second quarter ended February 28, 2017, and as recently announced, Wavefront's distribution partner in Oman was awarded the approximate $US 500,000 contract for expanded Powerwave use. This previously anticipated Powerwave program was delayed due to lower and volatile oil prices over the past few years. Powerwave deployment is in the client's scheduling phase and is anticipated to commence in the second half of calendar 2017.
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.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.