Pandell News - Mar 09, 2009
EANexus Engages Alberta's New Well Incentive Program
Pandell's Economic Analysis Software Calculates the Maximum 5% Royalty Rate for the First Year of Production from New Oil or Gas Wells
Calgary, AB, Mar 09, 2009 – In response to the Alberta Government’s announcement of a three-point incentive program for the energy sector last week, Pandell Technology Corporation confirms that its EANexus software enables its economics users to calculate the 5% royalty rate for the first year of production from new oil or gas wells. The province's new incentive program is intended to help free up cash flow, and in turn, help provide access to the capital necessary for reinvestment by Alberta's oil and gas industry.
"Immediately following the announcement of the new well incentive program, we were informed that EANexus currently supports the new well calculations," says Lee Baker, President of Nordegg Resources Inc. "Since then, we've used EANexus to run a series of economic test cases to see how the incentive program could impact us; EANexus handled the new calculations with ease."
"One of the biggest advantages our clients gain by using EANexus is the assurance that we will consistently provide the fastest response time to changing market demands," says Ed Poth, Pandell Senior Product Manager and Accomplished Entrepreneur. "In the present environment, it's crucial to our junior and intermediate clients that we provide them with the tools to act quickly to industry changes."
EANexus is economic, budgeting and reserves reporting software recognized for its time-saving features including batch file edits, automatic price deck updates, and built-in tutorials. Junior and intermediate oil and gas companies choose EANexus because: it outperforms other software by enabling 46% faster merger, acquisition, and well-case evaluations; 4 out of 5 reservoir analysts using EANexus report more accurate cash-flow forecasting and faster creation of capital and production budgets; and, it is the only economics tool to optimize performance with data-defined defaults, intelligent decline analysis, and controlled data sharing with AFE systems.
About Pandell Technology Corporation
Pandell is a software solutions company that delivers industry specialized software products and business services. For oil and gas companies, Pandell offers its NexusSuite™ of oil & gas software products and its NexusWorkforce™, oil & gas accounting services. For enterprise organizations, Pandell builds and manages PLISolutions™, large-scale, web-based applications delivered on Pandell's advanced technology. With its industry expertise and proprietary Pandell Liquid Intelligence™ technology ("PLI"), the company delivers the most modern, affordable software solutions to its clients. The company has achieved rankings on Branham's Top 300 Technology Companies in Canada, Alberta Venture™ Fast Growth 50 List, and Calgary Inc™ Best Places to Work.
