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Pandell Implements new Alberta Royalty Formulas into EANexus Economic Analysis Software

Pandell Implements new Alberta Royalty Formulas into EANexus Economic Analysis Software

Calgary, AB – (June 2, 2010) Pandell Technology Corporation, a leading vendor of back-office software solutions for Canadian oil and gas companies, announced today that its economic analysis software, EANexus, has already been updated with the new Alberta government royalty changes announced last week. The new version of EANexus will help oil and gas companies quickly and accurately assess the impact of these changes.

On May 27, 2010 the Alberta government completed its competitiveness review, energizing Investment Phase 2, Royalty Curves and Emerging Resources and Technologies. The royalty changes come into effect January 1, 2011. Further details of the announcement are available on the Alberta Energy website at http://www.energy.gov.ab.ca/.

All of the changes announced as part of the May 27th review are now available for download in EANexus Release 2.6.3.0. Pandell’s EANexus is an all-in-one economics program that provides fast, accurate and easy economic analysis, reserves management and budgeting. EANexus allows engineers to do complex economic evaluations in half the time of traditional approaches, without sacrificing the ability to handle the most complex royalty calculations.

“The oil and gas producers need to quickly understand how the new rules affect their current and future projects,” says Greg Chudiak, Pandell's President and CEO. “Our track record of being the first software vendor to incorporate these types of changes gives our customers the confidence that Pandell has the best tool on the market for economic evaluations.”