Apparatus and methods for dissolving a gas into a liquid comprises a saturation tank, a high pressure liquid pump in fluid communication with the tank, and a pressurized gas source in communication with a regulated gas head space of the saturation tank. The saturation tank comprises a pressure vessel for containing the liquid and has a regulated gas head space above the liquid, contains at least one liquid spray nozzle that permits passage of liquid into the pressure vessel, and an outlet for the liquid containing dissolved gas. Upon passing the gas-containing liquid into a second fluid, the gas is released in the form of microbubbles. The microbubbles aid in flocculation of suspended particles and promote dissolution of the gas in the second fluid. Preferred gases for use with the apparatus are oxygen, air, and ozone. Anticipated uses include treatment of rivers, streams, and ponds in natural or industrial settings, as well as smaller scale applications.