Paradigm to Join Chevron, Shell, and Schlumberger as an Investor in OpenSpirit Corporation

Paradigm to Join Chevron, Shell, and Schlumberger as an Investor in OpenSpirit Corporation

April 05, 2006

    AMSTERDAM, Netherlands, April 5 /Xinhua-PRNewswire/ --
Paradigm(TM), the leading geoscience software and services
provider to the oil and gas industry for Rock and Fluid
Interpretation(TM), today announced that they have signed a
Memorandum of Understanding to invest in OpenSpirit
Corporation, an independent software company focused on
providing integration solutions for upstream applications
and data.  

    Paradigm shares the vision and common goals for
vendor-neutral infinite data and application integration
practiced at OpenSpirit and will participate on the
OpenSpirit Board of Directors.  The addition of Paradigm
contributes to the delivery of rapid geological,
geophysical, and petrophysical (G&P) data model access
among the industry's leading data repositories
(Schlumberger GeoFrame and Finder, Landmark OpenWorks, and
Paradigm Epos) and provides best-of-breed application
interoperability.  

    "Oil and gas explorationists and producers need
cooperation of the leading geoscience application and data
system providers to achieve the goal of finding quality
prospects to replace oil and gas reserves and increase
daily production.  Paradigm is making a very definite
choice to 'play well with others' by sharing in the
business vision and objectives of OpenSpirit," stated
the Paradigm Executive Chairman and CEO, John W. Gibson,
Jr.

    "Paradigm's planned investment in OpenSpirit
validates our standing as the market's only
platform-independent, standards-based, and vendor-neutral
integration solution for upstream data," says Dan
Piette, President and CEO of OpenSpirit.  "We are
pleased to extend our application and data integration
capabilities to Paradigm clients to help them reduce their
E&P cycle time and lower risks by making sure they have
the right data at the right time.  We look forward to
working with John Gibson and his global team."

    "We are pleased to welcome Paradigm to OpenSpirit
Corporation.  Our longstanding commitment to openness is
now shared by another key industry player.  Paradigm's
decision to join OpenSpirit strengthens the industry's
ability to rapidly adopt new technologies to better meet
current challenges," said Olivier Le Peuch, president
of Schlumberger Information Solutions and OpenSpirit Board
Director. 

    About OpenSpirit

    The OpenSpirit Corporation, based in Sugar Land, Texas,
began operations in July 2000 as an independent software
company focused on providing integration solutions for
upstream applications and data.  The OpenSpirit application
integration framework allows interoperability between
multiple vendors' applications and data.  To date, more
than 30 software vendors have licensed the OpenSpirit
developer's kit.  Additionally, there are now more than
1500 oil company end users in more than 50 countries taking
advantage of the framework to speed up critical work flows
and enhance analysis in the geotechnical space, with more
adopting the solution every day.  Additional information on
OpenSpirit is available at http://www.openspirit.com , or
via e-mail at [e-mail] .

    About Paradigm

    Paradigm helps global oil and gas companies safely
replace reserves and increase daily well production in
complex geological areas.  The Paradigm geophysics and
petrophysics (G&P) advanced technologies suite includes
Seismic Data Processing and Imaging, Prospect Interpretation
and Modeling, Reservoir Characterization, Petrophysics,
Time-to-Depth Conversion, Well Planning, and Drilling. 
Committed to open standards, Paradigm extends integration
to exploration and production data and third-party
applications with the Paradigm Epos(TM) Data Sharing and
Application Interoperability Framework.  The company has a
global network of sales, services and user support, serving
all major oil and gas producing regions in the world.  For
additional information visit Paradigm's website at
http://www.paradigmgeo.com .

    The following are trademarks or registered trademarks
of Paradigm Geotechnology B.V. or any of its affiliates
(collectively, "Paradigm"): Paradigm(TM),
Paradigm logo and/or other Paradigm products referenced
herein. OpenSpirit is a registered trademark of OpenSpirit
Corporation.  All other trademarks are owned by their
respective owners. 

    For more information, please contact:

    Paradigm Media Contact              
     Susan Allen Farrell                 
     Tel:   [phone]                
     Email: [e-mail]            

    OpenSpirit Media Contact
     Kathy Ashmore
     Tel:   [phone]
     Email: [e-mail]

SOURCE  Paradigm