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WATER INDUSTRY NEWS
May 28, 2008
Wavefront's Powerwave systems to be used by Midland Texas producer
TSX-V: WEE Pink Sheets: WEESF
EDMONTON, May 28 /PRNewswire-FirstCall/ -- Wavefront Energy and Environmental Services Inc. ("Wavefront"), a world leader in fluid injection technology for improved/enhanced oil recovery and groundwater restoration is pleased to announce that Walsh Petroleum Inc. ("Walsh") a privately held oil and gas producer based in Midland Texas will implement Powerwave in a commercial venture with an initial order of eight systems. The implementation schedule for the Powerwave systems is being determined.
Wavefront President and CEO Brett Davidson stated, "Consistent field results on improved injection and production response have numerous oil producers embracing Powerwave as a viable means of unlocking stranded oil. The Permian Basin, where Powerwave will be implemented by Walsh, is a strategic gain for Wavefront as it is a vital oil producing region in the United States having the predominance of production driven by water or CO(2) floods. With over 50,000 water and CO(2) injection wells used for secondary oil recovery, Texas is a primary target for Wavefront and we fully anticipate continued uptake of Powerwave in the near term."
About Wavefront Energy and Environmental Services Inc.
Wavefront is a technology-based company with a focused, strategic plan to leverage the value of our intellectual property in order to maximize oil production recovery operations, as well as provide additional solutions for environmental applications.
Source: Wavefront Energy and Environmental Services Inc.
Consolidated Water Co. Ltd. declares second quarter dividend
GEORGE TOWN, Grand Cayman, Cayman Islands, May 28 /PRNewswire-FirstCall/ -- Consolidated Water Co. Ltd. (NASDAQ:CWCO) today announced that its Board of Directors has declared a quarterly cash dividend of $0.065 per share.
The dividend is payable July 31, 2008 to shareholders of record at the close of business June 30, 2008.
About Consolidated Water Co. Ltd.
Consolidated Water Co. Ltd. develops and operates seawater desalination plants and water distribution systems in areas of the world where naturally occurring supplies of potable water are scarce or nonexistent. The Company currently operates water production and/or distribution facilities in the Cayman Islands, Belize, the British Virgin Islands and The Commonwealth of the Bahamas. The Company is currently constructing a seawater desalination plant in Bermuda.
The ordinary (common) shares of Consolidated Water Co. Ltd. are traded on the NASDAQ Global Select Market under the symbol "CWCO". Additional information on the Company is available on its website at http://www.cwco.com/.
Source: Consolidated Water Co. Ltd.
Questar receives BLM Best Management Practices Award
Bureau of Land Management Honors Questar for Liquids Gathering System
DENVER, May 28 /PRNewswire/ -- Questar received the 2008 "Oil, Gas and Geothermal Development Environmental Best Management Practices (BMP) Award" from the U.S. Department of the Interior, Bureau of Land Management (BLM) for its innovative development and implementation of a Liquids Gathering System (LGS), multi-well pads and subsurface well heads on the Pinedale Anticline in Sublette County, Wyoming.
The award is given to the company that showcases the finest examples of responsible fluid mineral resource development on BLM-managed public lands, other Federal agency lands, Indian trust lands, or on Federal split estate lands where the surface is privately owned and the BLM manages the mineral estate.
The Questar LGS greatly reduces environmental impacts by decreasing trucking and human activity while also lowering emissions of nitrogen oxide (NOx), volatile organic compounds (VOC) and dust. The LGS is a closed loop system that gathers condensate (light oil) and produced water from multi-well pads, pipes these liquids to Central Gathering Facilities where they are further separated and then pipes the liquids to a refinery or to disposal.
Since installation of the LGS in November 2005, it has:
-- Eliminated over 35,600 truck trips as of May 1, 2008;
-- Minimized surface disturbance, providing significant wildlife habitat
benefits;
-- Eliminated all liquids storage tanks;
-- Significantly lowered NOx emissions due to reduction in truck trips;
-- Captured condensate vapor that would have previously been released to
the atmosphere; and
-- Consolidated production facilities thereby requiring less surface
disturbance.
"Energy companies are being challenged to develop innovative ways to lessen their impacts," said Diana Hoff, Questar's General Manager for the Pinedale Division. "The LGS on the Pinedale Anticline demonstrates Questar's responsible development practices as we work to meet the nation's current and future energy demands while balancing wildlife, habitat, air quality and community."
Hoff accepted the BLM BMP Award for Questar, May 21st at the 2008 National Fluid Minerals Conference in Albuquerque, New Mexico. Additionally, Questar has received several awards the last few years for their innovative Pinedale operations including: Wyoming Game and Fish Department- Wildlife Stewardship Award, Oil and Gas Investor- Best Corporate Citizen Award, Interstate Oil and Gas Compact Commission- Chairman Stewardship Award, and a special award honoring Questar along with Ultra and Shell for their Environmental Stewardship on the Pinedale Anticline from the Sweetwater Economic Development Partnership, Green River Chamber of Commerce and the Rock Springs Chamber of Commerce.
Source: Questar
