INDUSTRY

Paradigm, a leading provider of enterprise software solutions to the global oil and natural gas exploration and production industry, announced today at the Society of Exploration Geophysicists (SEG) International Exposition and 76th Annual Meeting the upcoming release of Rock & Fluid Canvas 2007, a next-generation integrated software suite of ten applications for seismic processing and imaging, seismic interpretation, subsurface modeling, and reservoir characterization. By integrating a comprehensive suite of applications, Paradigm has created a shared "canvas" for all Rock & Fluid Canvas 2007 applications to seamlessly merge the macro realm of geology and geophysics with the micro realm of petrophysics. Rock & Fluid Canvas 2007 is scheduled for general availability in the Fall 2006. Paradigm believes that Rock & Fluid Canvas 2007 will benefit its customers across the world, allowing asset management teams a practical way of making Rock and Fluid Imaging, Interpretation, and Characterization as routine as Structural, Imaging and Interpretation. Paradigm is delivering Rock and Fluid Solutions by uniting widely-recognized geophysical and petrophysical applications in a single, integrated analysis, interpretation and visualization system. Among the key features of the applications, Rock & Fluid Canvas 2007 allows customers to: * Deliver a common visualization, interpretation, and transformation platform * Vet, analyze and interpret Quality Prospects * See 10X increase in productivity with automation tools * Execute simultaneous multi-disciplinary tasks * Audit workflows for reserve reporting with Workflow Guides * Push/Pull data from OpenWorks and GeoFrame * Share data with third-party applications * Graphic user interface consistency "The introduction of Rock & Fluid Canvas 2007 is consistent with our ongoing efforts to increase the usability of our applications and work with our customers to continue to meet the increasing demands in the oil and gas industry," said John Gibson, President and CEO of Paradigm. "We are committed to offering integrated software suites that help our global customers improve their exploration and production decision making and ensure efficient production activities, particularly in complex regions."