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Swift Energy to Implement P2 Energy Solutions' 'Oil & Gas Business Footprint' for Mid-Sized Producers

Posted on: Tuesday, 11 April 2006, 15:00 CDT

HOUSTON, April 11 /PRNewswire/ -- P2 Energy Solutions announced today that Swift Energy Company has chosen its Enterprise Upstream software and Oracle's eBusiness Suite as its integrated global asset management and Enterprise Resource Planning (ERP) platform.

Swift Energy will install and implement a preconfigured software framework called the "Oil & Gas Business Footprint," designed by P2 Energy Solutions. The footprint delivers industry best practice processes based on years of implementation experience by P2 Energy Solutions consultants. It shortens time-to-benefit and lowers upfront costs associated with typical ERP software implementations.

Enterprise Upstream is a Web-based business management software suite designed for independent oil and gas producers. The "Oil & Gas Business Footprint" gives Swift Energy a platform to drive process improvements and increase reporting efficiencies.

The software suite integrates seamlessly with the Oracle eBusiness Suite to provide modules in the following areas: corporate performance management, operations accounting and financial management, land management, volumes management, human capital management, procurement, project management, plant maintenance and internal controls management, most of which will be implemented near-term by Swift Energy.

"Based on a very extensive and diligent evaluation process, Swift Energy has selected the P2 Energy Solutions and Oracle Enterprise solution," said Alton Heckaman, Swift Energy's chief financial officer. "We are excited about the benefits and synergies that will result, as we use the P2 Energy Solutions and Oracle platform to integrate and improve all related business applications."

George Telford, senior vice president of Consulting for P2 Energy Solutions said, "Our Oil & Gas Business Footprint drastically reduces the time and risk associated with large systems implementations. The project team is able to move quickly through the design and configuration tasks and focus on the business process and knowledge transfer to the client. The Footprint brings the cost of ERP down to the point where it is a very viable option for a mid-market producer."

About Swift Energy Company

Swift Energy Company, founded in 1979 and headquartered in Houston, engages in developing, exploring, acquiring and operating oil and gas properties, with a focus on onshore and inland waters oil and natural gas reserves in Louisiana and Texas and oil and natural gas reserves in New Zealand. Over the Company's 26-year history, Swift Energy has shown long-term growth in its proved oil and gas reserves, production and cash flow through a disciplined program of acquisitions and drilling, while maintaining a strong financial position.

About P2 Energy Solutions Inc.

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 asset management solutions including Enterprise Upstream, Entelligent, Excalibur, Qbyte, Tobin LandSuite(TM) and Tobin SuperBase(R). 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 a 75-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 super majors. More information can be found at http://www.p2es.com/ and http://www.tobin.com/ .

Contact: Eric Flynn Director of Marketing (713) 481-2000 eflynn@p2es.com

P2 Energy Solutions Inc.

CONTACT: Eric Flynn, Director of Marketing of P2 Energy Solutions Inc.,+1-713-481-2000, or eflynn@p2es.com

Web site: http://www.p2es.com/http://www.tobin.com/

Source: PRNewswire

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