BIG DATA

Computer Modelling Group Ltd. announced the completion of Phase 1 of its joint research project to develop the newest generation of reservoir simulation software. "In October 2006 we announced the participation of Petroleo Brasileiro S.A. ("Petrobras"), Brazil's state-owned oil company, in our joint research and development project with Shell International Exploration and Production BV ("Shell"), a significant multi-national petroleum company, to develop the newest generation of reservoir simulation software. Now we are very excited about being able to announce the completion of Phase I and the commencement of Phase 2 to our joint research project", said Kenneth M. Dedeluk, President and CEO of CMG. "Our joint research team is now focused on the execution of the software development plan that was created in Phase 1. This significant undertaking is anticipated to take five years in duration and will represent over 125 man-years of development. CMG will have full commercialization rights to the developed technology; with first commercial release currently targeted in 2009." Both Petrobras and Shell, in addition to their financial contributions, are providing invaluable expertise in the field of reservoir simulation. The common goal for each of our three companies is to develop a new generation simulator system that will do more than optimize reservoir recovery; it will model the entire hydrocarbon recovery system through point of sale. This newest generation reservoir simulation software, as currently envisioned, will represent a step change in performance from current industry technology with respect to such things as flexibility, speed and accuracy, ease of use, adaptive techniques, general-purpose physics and chemistry, scope and advanced scenario management. Computer Modelling Group Ltd. is a computer software technology and consulting company serving the oil and gas industry. Clients apply CMG's computer software technology to increase recovery from existing and future reserves. The Company, recognized by oil and gas companies worldwide as a leading developer of reservoir modelling software, has sales and technical support services based in Calgary, Houston, London, and Caracas. CMG is the leading supplier of advanced processes reservoir modelling software in the world with a blue chip client base of international oil companies and technology centres in 43 countries. CMG's common shares are listed on the TSX and trade under the symbol CMG. For more information, please visit CMG's web site at its Web site.