geoLOGIC and P2 Energy Solutions announce new data and software alliance

geoLOGIC and P2 Energy Solutions announce new data and software alliance

CALGARY, November 1, 2007

– Two data industry leaders are working together to offer greater freedom of choice in oil and gas data and decision support tools.

At an industry breakfast today, Calgary-based geoLOGIC systems ltd. and P2 Energy Solutions, Alberta ULC (formerly Qbyte) outlined how the two companies are cooperating to ensure the oil and gas industry has freedom of choice in high quality, high performance data and decision support software. Clients of both companies will benefit from what presenters called an unbeatable combination that includes the reliable IT infrastructure and value-added data of the geoLOGIC Data Center (gDC); the superior query, import and export functions of Qbyte Petro-LAB marketed by P2 Energy Solutions; and the ease of use and powerful cross-section, decline analysis and other decision support tools of geoLOGIC’s geoSCOUT offering.

"We are pleased to be working closely with P2 Energy Solutions to provide this capability to the oil and gas industry. We have always believed that engineering, land, geology and management professionals should be able to access the data they want, using the software tools they choose," said David A. Hood, president of geoLOGIC. "This collaboration will open our gDC data to a whole new segment of users within the industry, while giving our current gDC and geoSCOUT users access to the best features of Qbyte Petro-LAB."

"This is a tremendous opportunity, not only for P2 Energy Solutions, but for the industry as a whole," said Peter Huggard, senior vice president, P2 Energy Solutions. "This collaboration will ensure our current clients have the choice of using Qbyte Petro-LAB to query multiple public and proprietary data sources including those offered by the gDC. The ability to offer access into the gDC data set provides another choice for the industry and opens up new opportunities for Petro-LAB. We look forward to working with geoLOGIC’s customers providing them with this new capability that has not been available. We each share the common goal to ensure the industry has more options and capability available to help them make better decisions in a timely manner."

Over the coming months, P2 Energy Solutions and geoLOGIC are planning to introduce additional cooperative services to the market and will communicate complete details after a period of consultation with existing and potential customers.

About geoLOGIC

Headquartered in Calgary, geoLOGIC systems ltd. has been creating and supplying well data and integrated software solutions to the energy and production industry since 1983. The company’s premier decision support tool, geoSCOUT, is a fully-integrated, Windows-based exploration system that supports oil and gas professionals in their search for resources by combining presentation-quality mapping and cross-section tools with data handling and analysis software. The geoLOGIC Data Center (gDC) supplies customers and software partners with high quality data in an open Public Petroleum Data Model. geoLOGIC’s other products include a powerful full-cycle economic analysis tool called petroCUBE, and a diversified suite of simple web applications – all backed by industry leading customer support. For more information on geoLOGIC, visit www.geologic.com.

About P2 Energy Solutions Inc.

P2 Energy Solutions, Alberta (formerly Qbyte) is a wholly owned subsidiary of P2 Energy Solutions. P2 Energy Solutions focuses on the development and support of data, software and enterprise services to meet the information and business process needs of the energy industry. P2 Energy Solutions is the oil and gas industry’s most comprehensive source of business management solutions. With solutions deployed at more than 500 companies worldwide, P2 Energy Solutions enables clients to achieve greater productivity while maintaining effective controls. The company has an 80-year history of serving the oil and gas industry and understands its workflow processes. P2 Energy Solutions has the breadth and depth of expertise to meet the expanding financial, operational and data management needs of energy companies from private independents to supermajors. More information can be found at www.p2es.com.