EANexus Engages Alberta's New Well Incentive Program

Mar 09 2009 | Product News

Calgary, AB – (March 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.

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About Pandell

Pandell is an industry leader in delivering Software-as-a-Service (SaaS) solutions to 500+ energy companies in Canada, the USA, and abroad. Our customers range from startups to major enterprises across energy sectors including oil & gas, pipelines, utilities, mining, and renewable energy. Our cloud-hosted product suite helps finance, land, and field operations run their business more effectively; while our enterprise division builds and manages large-scale web portal applications that facilitate work across organizations. Combining the strength of our industry experience, Lithium™ technology, and practical software subscription model, we are Crafting the Future of Energy Software.