"According to Grotzinger, the environment at the time the rocks were forming could have been a salt flat, or playa, sometimes covered by shallow water and sometimes dry. Such environments on Earth, either at the edge of oceans or in desert basins, can have currents of water that produce the type of ripples seen in the Mars rocks."
http://www.spaceflightnow.com/mars/mera/statustextonly.html
Satt thinks, if this was at the edge of ancient oceans (i.e., shore lines), this must be a very rare case to find.
"The discovery does not mean that there was ever life on Mars. But it is more evidence, Dr. Squyres said, that Mars may have once had a habitable environment, because water is the basis of life. It also raises "the possibility of the preservation of evidence," he said, meaning that biological or other clues might be buried in the sediment."
http://www.nytimes.com/2004/03/23/science/space/23CND-MARS.html?ex=1080709200
Satt: It is regrettable that the rovers did not carry instruments with them for the fossil search.