A process for the extraction of an unwanted material from a gas or liquid comprising the steps of introducing an extraction liquid into the fluid having an unwanted liquid therein to form a physical microdispersion comprising a plurality of extraction liquid droplets and the fluid, allowing the plurality of extraction liquid droplets to interact with the unwanted component in the fluid, to cause the extraction liquid droplets to be “wetted out” and captured on a porous medium, where the liquid is further contacted by the gas and simultaneously formed into a plurality of coalesceable droplets, coalescing the coalesceable droplets into larger droplets containing the unwanted liquid, and separating the larger droplets containing the unwanted liquid from the fluid.