Paradigm to Display Software Products for Improved Workflow Efficiencies for the oil and gas industry at SEG 2003

Paradigm to display software products for improved workflow efficiencies for the oil and gas industry at SEG 2003

New Products Further Enrich the Company's Fully Integrated Trace-to-Target Workflows

HOUSTON, Oct. 26, 2003 -- At this year's Society of Exploration Geophysicists (SEG) exhibition in Dallas, Texas, Paradigm, the premier provider of advanced petroleum geoscience and drilling technology, will present new products and major enhancements to its E&P solution suite, supported by the new Epos 3.0 interoperability and integration framework. The Epos 3.0 framework offers substantial benefits to Paradigm users by providing seamless workflows between the company's processing, imaging, interpretation, visualization, reservoir characterization, petrophysics and well planning solutions.

The Epos framework will be featured along with Paradigm's innovative Reservoir Navigator(TM) 3D visualization canvas. Together, these provide a collective solution for data, application and visual integration, facilitating informed decision-making and enhancing multi-disciplinary collaboration. The Reservoir Navigator, with its unique ability to display maps, solid models and drilling engineering data on the same 3D canvas with seismic, well and interpretation data, will be displayed at SEG along with new interpretation solutions, including the SeisEarth(TM) line-based 2D/3D interpretation system, and iMap(TM) geoscience mapping tool. These Epos-compliant applications complement, strengthen and support Paradigm's industry-leading volume interpretation solutions, and enable Paradigm to offer a complete interpretation solution. Efficient and creative reservoir characterization workflows making use of the Epos 3.0 framework will also be demonstrated, and extended to incorporate Paradigm's new reservoir geocellular model viewer, FlowView(TM).

The Epos 3.0 framework is the enabler of Paradigm's Trace-to-Target(TM) workflows. Designed to meet real-life E&P challenges, these workflows help Paradigm customers interpret and model complex structures, identify amplitude-based fluid anomaly prospects, predict reservoir properties and pore pressure, and perform accurate and economic well planning at the seismic, log and reservoir scales. Technology demonstrations and case studies will show how these integrated workflows help clients attain their E&P goals. Paradigm's Trace-to-Target workflows are offered to customers as integrated software solutions or as Business Process Outsourcing (BPO) services.

In a section of the booth devoted to its extensive Services Division, Paradigm will reinforce its leadership position in geophysical services and reservoir studies by emphasizing its synergies of technology, experience and solution integration. Actual case studies will be presented showing the fast and accurate results derived from studies conducted by Paradigm's services experts.

As a leader in adapting its technologies to the Linux operating system, Paradigm has chosen the SEG show to unveil its products running on a 64-bit Linux, the first PC system to break through the barriers of memory and file size.

Eldad Weiss, CEO of the Paradigm Group, said, "At this year's SEG, we'll be showing our entire solution suite running on our Epos 3.0 integration framework. With Epos 3.0, we'll be able to offer complete integration throughout the E&P workflow. Not only will this enhance the accuracy of geoscientific tasks, it will also generate a new class and quality of E&P deliverables. This will significantly improve workflow efficiency, resulting in much higher productivity for our customers."

On-demand demos of Paradigm's wide range of solutions will be offered at customer request, and a private meeting room will be available for meetings with clients. In addition, a daily happy hour will enable Paradigm personnel to host their many friends and colleagues who will be attending the show.

The Paradigm booth #617 is located in Hall A, Dallas Convention Center, from October 26-29, 2003. More about Paradigm at SEG: http://www.paradigmgeo.com/newsroom/seg_2003.php.

About Paradigm

Paradigm provides information solutions to the leaders of the oil and gas industry worldwide. The company has a global network of sales, service and user support, with 22 offices in 19 countries, serving all major oil and gas producing provinces in the world. Paradigm's advanced set of Software Solutions and Geophysical and Reservoir Study Services, in the form of Trace-to-Target workflows, supports every stage in the oil and gas E&P process, from Data Processing and Imaging; through advanced Visualization, Interpretation and Earth Modeling; to Reservoir Characterization and Petrophysics; up to Well Planning and Drilling Operations. All of these solutions are supported by the Epos Data Management and Interoperability integration framework.

The following are trademarks or registered trademarks of Paradigm Geotechnology B.V. or any of its affiliates (collectively, "Paradigm"): Paradigm(TM), Paradigm logo, Epos(TM), FlowView(TM), iMap(TM), Reservoir Navigator(TM), Trace-to-Target(TM), SeisEarth(TM), and/or other Paradigm products referenced herein. All other trademarks are owned by their respective owners.

Certain statements contained in this media update are forward-looking in nature. These statements can be identified by the use of forward-looking terminology such as "believes," "expects," "may," "will," "could", "should," or "anticipates" or the negative thereof or comparable terminology, or by discussions of strategy. The company's business and operations are subject to a variety of risks, uncertainties and other factors. Consequently, actual results may materially differ from those projected by any forward-looking statements. Such risks, uncertainties and other factors that could cause actual results to differ from those projected include, but are not limited to, the following: (1) political risk and uncertainty in the global economy and within the energy sector, (2) regional conflicts in oil producing countries, (3) future capital expenditures by oil and gas companies, (4) fluctuations and absolute levels of international oil prices, (5) the need for increased Company investment to support new product and new service introductions, (6) the company's ability to raise needed additional capital, (7) rapid technological changes that could make the company's products less desirable or obsolete, (8) market acceptance of the Company's products and services, (9) changes in product sales mix, (10) product transitions by the Company and its competitors, (11) the impact of competitive products and pricing, (12) currency fluctuations. The company makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made.

Recent press announcements are available on Paradigm's web site: http://www.paradigmgeo.com.


     Paradigm Media Contacts
     Corporate
     Arita Mattsoff
     Tel: +44 1483 758 000
     aritam@paradigmgeo.com

     USA and South America
     Carmen Comis
     Tel: +1 713 393 4833
     ccomis@paradigmgeo.com

     Canada
     Jennifer Savard
     Tel: +1 403 750 3534
     jsavard@paradigmgeo.com

     Asia Pacific
     Nicola Davies
     Tel: +61 8 9327 1807
     nicolad@paradigmgeo.com

     Europe/Africa/Middle East
     Jeanette Halford
     Tel: +44 1483 758 145
     jeanetteh@paradigmgeo.com

SOURCE Paradigm

Web Site: http://www.paradigmgeo.com

Web Site: http://www.seg.org