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Paradigm(TM) Software and Consulting Services Optimize Global Oil Exploration and Production

Posted on: Monday, 21 January 2008, 15:00 CST

MEXICO CITY, Jan. 21 /PRNewswire/ -- Paradigm(TM) (http://www.pdgm.com/), a leading provider of enterprise software solutions to the global oil and natural gas exploration and production (E&P) industry, is holding its annual Global Sales Summit January 21-24 in Mexico City. The Global Sales Summit brings over 200 of Paradigm's leading technology professionals together for strategic discussions and training on breakthrough subsurface software technology for the global oil and gas industry.

The Paradigm summit focuses on issues and business drivers affecting national and international oil and gas companies, and global suppliers today. From case studies and examples, delegates are learning about Paradigm's unconflicted alignment with the industry's need for its breakthrough technology enabling responsible management of subsurface assets. Participants also have direct contact with the company's business and scientific leadership to discuss perspectives of the international energy industry.

Paradigm believes that countries such as Mexico can stimulate world economies and significantly improve reserve decline rates by using advanced software technology in exploration and production. "As an oil and natural gas producer and exporter, Mexico can reinforce economic growth as they increase oil and natural gas production through the use of advanced subsurface technologies in the coming years," said Jorge Machnizh, Paradigm's Chief Operating Officer. "Mexico has the opportunity to continue being a leader in the world energy market as they accelerate adoption of leading-edge technology to identify and model new oil field prospects and to increase efficiency in the production of new and existing fields. Technology is the key to our customers' objective to optimize capital deployment." Latin American leadership in oil exploration and exploitation will be pivotal in the current market; Brazil is another country that has applied such technology to locate new oil fields and recently announced new reserve finds.

Paradigm is a global company that specializes in the development of technology to facilitate the detection and exploitation of oil and natural gas reserves. Paradigm processes and analyzes complex subsurface seismic imaging data and geologic information to support efficient and cost-effective identification of new sources of oil and natural gas, with minimum impact to the environment. Their technology also maximizes extraction from existing reserves through 3D model-based reservoir engineering techniques.

For media information, contact Emily Fuleihan by phone at +1 919-945-0552 or by e-mail at emily@koroberi.com.

About Paradigm(TM)

Paradigm Geophysical Corp. (http://www.pdgm.com/), the industry leader in digital subsurface asset management, helps global oil and gas companies locate new reserves and optimize production in complex geological areas. Paradigm's technology advances the science of hydrocarbon detection with solutions in seismic data processing and subsurface imaging, prospect interpretation and modeling, reservoir characterization, and well planning and drilling. These exploration and production solutions operate in an open environment with connectivity to third-party data stores to accelerate project creation and turnaround. Paradigm has a global network of sales, services and user support, serving major oil and gas producing regions around the world. For additional information visit Paradigm's website at http://www.pdgm.com/.

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

Forward-Looking Statements

Some of the statements in this press release may constitute "forward- looking statements" that do not directly or exclusively relate to historical facts. These forward-looking statements reflect our intentions, plans, expectations, assumptions and beliefs about future events and are subject to risks, uncertainties and other factors, many of which are outside of our control. Important factors that could cause actual results to differ materially from the expectations expressed or implied in the forward-looking statements include known and unknown risks. Because actual results could differ materially from our intentions, plans, expectations, assumptions and beliefs about the future, you are urged to view all forward-looking statements contained in this press release with caution. Paradigm does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Paradigm

CONTACT: Emily Fuleihan of Koroberi, Inc., +1-919-945-0552,emily@koroberi.com, for Paradigm

Web site: http://www.pdgm.com/

Source: PRNewswire

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