2008-09-16 02:02:01 -

- P2 Energy Solutions, a leading provider of business software to the oil and gas industry, is pleased to announce the acquisition of the Wellcore oil and gas well life cycle management software platform from Canada-based Decision Dynamics Technology Ltd. Under the terms of the agreement, P2 Energy Solutions has assumed ownership of all assets (including all applicable intellectual property)

and personnel associated with the development, marketing, sales and support of the Wellcore product.

Wellcore is already employed by hundreds of business users within P2 Energy Solutions' client-base. The acquisition of Wellcore allows P2 Energy Solutions to better meet its current and future customers' needs by extending its broad footprint of land, production and revenue management, cost management and core accounting functionality to include the full life cycle management of each well.

Wellcore provides a bridge between operations and back office financial and land systems and facilitates two primary quadrants of functionality. First, it enables E&P operators to manage and accelerate cross-departmental workflows to more rapidly exploit high intensity resource plays by prioritizing work activity on wells and locations to achieve drilling and production goals. Second, the Wellcore product captures all pre-drill activities, drilling and completion information and facilities and treatments, enabling a single repository to hold and track all relevant decision-making information over the life of a well. The centralization of data allows companies to measure, analyze and improve interdepartmental workflows between the land, geology, construction, permitting, drilling and completion functional business areas.

Gerry Conroy, Vice President of Engineering Solutions, P2 Energy Solutions, commented, "We are delighted to add the Wellcore product to our growing portfolio of industry-leading engineering solutions. Wellcore improves and accelerates critical cross-departmental workflows and enables resource play companies to drive process efficiency and operational excellence within their organizations. The incorporation of the Wellcore product provides our customer base with unique and exciting integration opportunities. More effectively than ever, P2 Energy Solutions can deliver land information, production and sales volumes and operating and financial data through an integrated portal."

Gary Vickers, CEO, P2 Energy Solutions, stated, "Winners of the resource-play exploitation race are companies that convert their vast land holdings into drilled producing wells swiftly while complying with regulatory and environmental guidelines. The integration of Wellcore enables our customers to implement best practices and institutionalize core business processes through software, with the added benefit of addressing the looming crew change and retirement of more than half of our industry's experienced technical professionals over the next three to five years. P2 Energy Solutions is committed to continuing the development of the Wellcore product. This important acquisition further differentiates P2 Energy Solutions from other ERP, accounting and land system vendors and expands our commitment to provide end-to-end solutions."

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 Entelligent, Enterprise Upstream(TM), Excalibur, Reserve Management, Qbyte, Enterprise Land(TM), Tobin GIS Studio(TM) and Tobin SuperBase(TM).

With solutions deployed at more than 450 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. For more information, visit P2 Energy Solutions at: www.p2es.com.

About Decision Dynamics Technology, Ltd.

Decision Dynamics is a leading provider of innovative knowledge capture, workflow management, reporting and analytics software solutions to the energy sector, including major oil and gas and electrical power companies. Its flagship product is Oncore, a project cost management solution that provides real-time cost information, contract validation and approvals for operations management and capital projects. Decision Dynamics is a Microsoft Gold Certified Partner. The Company's head office is located in Calgary, Alberta, Canada. It operates wholly-owned foreign subsidiaries in the United States with offices in Houston, Texas.

P2 Energy Solutions Inc.
Eric Flynn, 713-481-2000
Marketing Director
eflynn@P2es.com