PRESS RELEASE – FOR IMMEDIATE RELEASE
Paradigm Media Contact Carmen Comis Tel: +1 713-393-4800 ccomis@paradigmgeo.com Paradigm Announces Availability of Rock & Fluid Canvas ™ 2007 A major synchronous release for seismic processing, imaging, interpretation, modeling and reservoir characterization HOUSTON, TEXAS - (February 6, 2007) – Paradigm™, a leading provider of enterprise software solutions to the global oil and natural gas exploration and production industry, announced today that the Rock & Fluid Canvas™ 2007 release is now available on Sun Solaris, 32-bit Linux, and 64 bit Linux platforms. The release synchronizes and significantly upgrades ten industry-leading geoscience applications in seismic processing, imaging, interpretation, characterization and subsurface modeling. Infrastructure enhancements and innovative bridging-technologies connect these disciplines in a way that allow geoscientists from all fields to conduct prospecting, field appraisal and development projects on a single platform, creating new efficiencies and broadening insights when working with complex hydrocarbon reservoirs. The Rock & Fluid Canvas 2007 release is targeted for all oil and natural gas companies faced with meeting today’s global energy challenges of minimizing production decline and replacing reserves. Companies will benefit from release design features including: • • • • • • An infrastructure with supporting applications to better connect the data and disciplines of geophysics and petrophysics for expanded and improved subsurface interpretation An infrastructure that facilitates the localization of disparate data from distributed data repositories for improved project efficiency and quality New automated interpretation, modeling, and seismic data analysis tools resulting in measurable productivity increases for tedious tasks New geoscience applications in seismic imaging, characterization, and interpretation for advancing the quality and process of working in complex reservoirs An enhanced platform to better identify, vet, and analyze Quality Prospects ™ A platform that encourages the execution of simultaneous and inter-related multi-disciplinary tasks
From its inception, the Rock & Fluid Canvas 2007 release has focused on improvements in performance and quality of the entire exploration and development work process. “The introduction of Rock & Fluid Canvas 2007 is consistent with our ongoing efforts to increase the usability of our applications and workflows,” said John Gibson, President and CEO of Paradigm. “We are committed to offering integrated software suites that improve the economic success of our customers.” David Verdun, Executive Vice President of R&D and Technical Support, added, “This synchronized release reinforces our commitment to innovation, openness and workflow efficiency. We look forward to seeing the impact of this release on our customer’s business”. Paradigm will begin shipping the Rock & Fluid Canvas 2007 release in the first week of February via the Paradigm Customer Hub and through the Paradigm network of global offices. About Paradigm
Paradigm™ software enables customers to locate new oil and natural gas reservoirs, optimize production from new and existing reservoirs and create dynamic digital models of the Earth’s subsurface. Paradigm software solutions include Seismic Data Processing and Imaging, Visualization, Interpretation, Modeling, Reservoir Characterization, Petrophysical Analysis, Well Planning, and Drilling. Paradigm also provides strategic consulting services to enhance customer workflows and assist in realizing greater returns on exploration and production activities. You can learn more about Paradigm software and strategic consulting offerings by visiting their website at www.paradigmgeo.com.
The following are trademarks or registered trademarks of Paradigm Geotechnology B.V. or its affiliates (collectively, “Paradigm"): Paradigm™, Paradigm logo, Earth Decision, Earth Decision Suite, Rock and Fluid Interpretation, and/or other Paradigm products referenced herein. All other trademarks are owned by their respective owners. Forward-Looking Statements Some of the statements in this press release may constitute "forward-looking statements" that do not directly or exclusively relate to historical facts. These forward-looking statements reflect our intentions, plans, expectations, assumptions and beliefs about future events and are subject to risks, uncertainties and other factors, many of which are outside of our control. Important factors that could cause actual results to differ materially from the expectations expressed or implied in the forward-looking statements include known and unknown risks. Because actual results could differ materially from our intentions, plans, expectations, assumptions and beliefs about the future, you are urged to view all forward-looking statements contained in this press release with caution. Paradigm does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
###