We study elastic wave propagation in a fluid-saturated porous medium. Low-frequency asymptotic analysis of Biot’s model of poroelasticity yields the wave velocity, attenuation, and wave number as power series with respect to a small dimensionless parameter. This parameter is the product of kinematic reservoir fluid mobility, imaginary unity, and the frequency of the signal. The simplified asymptotic relationships lead to explicit formulae for reflection and transmission coefficients for a planar wave crossing an interface between two permeable media. Theoretical calculations predict a peak of reflection from a thin highly-permeable lens in a low-frequency range. An explicit formula relates the resonance frequency to reservoir fluid mobility and reservoir thickness. The results have immediate practical implications for seismic modeling and attribute analysis.