(ANAHEIM, California: Nov. 13, 2007) Paradigm™ (www.pdgm.com), a leading provider of enterprise software solutions to the global oil and natural gas exploration and production (E&P) industry, announced today that Paradigm Sysdrill™ Version 3.0, its new suite of well planning and drilling applications, was selected by Norwegian company Pertra ASA, a leading independent E&P company, for its exploration projects. Following an extensive competitive evaluation, Pertra chose to invest in Paradigm Sysdrill Version 3.0 licenses, which will be implemented companywide.
Paradigm Sysdrill Version 3.0 is an evolved product suite of well planning and drilling software solutions that combines powerful new modules with existing functionality in a single unified application. The suite focuses on four areas: increased functionality, improved efficiency, greater accessibility and interoperability.
“Pertra evaluated drilling software solutions from several vendors, and the integration seen in Paradigm Sysdrill software was found to be superior to the others,” said Terje Pedersen, Frøy redevelopment drilling & well manager for Pertra. “For our growing organization we need a software solution that is technically advanced, easy to use and well integrated, and we believe Sysdrill's drilling software is the best fit for our purpose."
“Paradigm is committed to its European client base and fully supports the next generation of successful explorers in the North Sea,” said Richard Jefferies, Paradigm’s vice president of Europe and Africa. “We see Pertra’s choice of Paradigm Sysdrill software as a clear indication that our innovative technology delivers improved efficiency, quality and productivity. We expect that Paradigm’s presence in the European market will continue to grow through 2008, and we are excited that Pertra has chosen Sysdrill over other available alternatives.”
For more information on Paradigm Sysdrill Version 3.0 and other Paradigm products and services, contact your regional office directly (find information at www.pdgm.com), or e-mail info@pdgm.com.
About Paradigm™
Paradigm Geophysical Corp. (www.pdgm.com), the industry leader in digital subsurface asset management, helps global oil and gas companies locate new reserves and optimize production in complex geological areas. Paradigm’s technology advances the science of hydrocarbon detection with solutions in seismic data processing and subsurface imaging, prospect interpretation and modeling, reservoir characterization, and well planning and drilling. These exploration and production solutions operate in an open environment with connectivity to third-party data stores to accelerate project creation and turnaround. Paradigm has a global network of sales, services and user support, serving major oil and gas producing regions around the world. For additional information visit Paradigm’s website at www.pdgm.com.
The following are trademarks or registered trademarks of Paradigm B.V. or of its affiliates (collectively, “Paradigm”): Paradigm™, Paradigm logo and/or other Paradigm products referenced herein. All other trademarks are owned by their respective owners.
About Pertra ASA
Pertra ASA is a Norwegian independent E&P company listed on Oslo Stock Exchange. The company’s business concept is to focus on exploration and development of small and mediumsized petroleum resources on the Norwegian Shelf. The company is based in Trondheim, with local offices in Harstad and Stavanger. Pertra operates seven licenses on the Norwegian Shelf and has an extensive network of collaborating partners. For more information about Pertra ASA, see www.pertra.no.
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.