Petris Technology Announces PetrisWINDS NOW! — a New On-Demand ASP/VSP Applications and Web-Services Platform for the Energy Industry

Business Wire, Jan 23, 2002

Business/Energy Editors & High-Tech Writers

HOUSTON--(BUSINESS WIRE)--Jan. 23, 2002

Petris Technology Inc., a leader in data management, application integration, collaboration and information solutions, announces the release of its newest offering, PetrisWINDS NOW! -- an on-demand (ASP/VSP) software application and services platform for the energy industry.

PetrisWINDS NOW! will help oil and gas companies shorten project cycle times and increase productivity on core business functions by providing easy access to best-in-class applications via the Internet.

PetrisWINDS NOW! includes software available on a monthly subscription (ASP/VSP) basis from independent software vendors (ISV) in the areas of geology, geophysics, reservoir engineering, production, asset & inventory management, economics, process engineering and construction. Also being released is PetrisWINDS Plan-IT, a new enterprise collaboration software package that applies the power of the Internet to quickly support collaborative teamwork, workflow and communication issues.

Don Humphries, PetrisWINDS NOW! product manager states, "By entering into a single contract with Petris, an oil & gas company, service company, marketing firm or consultant can have affordable and immediate access to needed software anywhere their employees may reside with minimal up-front capital expenditures. This agreement ensures companies always have the latest versions of their critical applications available allowing them to concentrate on core business needs and not on software related issues."

ISV software offered through PetrisWINDS NOW! includes applications from Cossey & Associates Inc. (Turbidite Field & Reservoir Database); Ensyste Energy Software Int'l (Prophet, an economics model; iTREX, an asset and inventory management system and Gastar IV, a gas marketing package); Edinburgh Petroleum Services (Wellflo, a well flow and pipeline modeling program and PanSystem, a well test simulator); Engineering Software (Energy Conversion, a thermodynamic simulator); Resolve GeoSciences (SeisShow, a 2D/3D seismic viewer); TERRASCIENCES (TerraStation II, a geological & petrophysical interpretation package); and Ultramarine (MOSES, an offshore structure simulator).

The energy and utility sectors are estimated to experience an 8.5% increase in IT spending in 2002 outpacing the predicted 3.8% rise among industries overall, according to Gartner Dataquest. "The future looks bright for on-demand applications outsourcing (ASP) and Web services and Petris will lead the way," says Jim Pritchett, chief executive officer, Petris Technology Inc.

Future release plans are already in the works and will include additional software from Computer Modelling Group (Reservoir Engineering & Simulation); Data Management Solutions (Gas Marketing); Ensyte Energy Software Int'l (Production Data Management); Kernel Technologies Ltd. (Seismic Interpretation); Maurer Technology Inc. (Drilling); Theta Enterprises Inc. (Production Engineering); TERRASCIENCES (Bore Hole Imaging) and Invensys SIMSCI (Process Engineering). Additional software and services will be added as demand increases from Petris' user community.

Additional releases will also include adapters built with the above software vendors tying their applications to PetrisWINDS Enterprise to make finding, accessing and using data a much easier process than exists today. Petris will not only make many of these applications available over the Internet but plans to install select applications behind a client's firewall leveraging a company's intranet infrastructure.

Petris Technology is a data and applications management, integration, collaboration and information solutions company focused on the needs of the energy industry. Formed in 1994, the company develops and markets customized and Web-enabled software products and services. Petris is privately held and headquartered in Houston.