GeoKnowledge & Palantir Economic Solutions
Partner to Offer Customers off-the-shelf Fiscal Models and Consulting Expertise.

(Nov. 23, 2004) GeoKnowledge, provider of GeoX, the leading Risk, Resource and Value solution to the upstream oil and gas industry, and Palantir Economic Solutions, O&G experts in economics, planning and risk, have partnered to provide their clients with off-the-shelf international fiscal models and an 'out of the box' GeoX solution.

The key client benefit will be the ease and accuracy with which fiscal models can be incorporated into gFullCycle. Palantir will offer their extensive library of international fiscal regimes in GeoX/gFullCycle format. This library of ready-to-use models will be consistently broadened, updated and benchmarked against Palantir's existing library of 50+ fiscal regime models. The library offers world wide coverage with key regimes from all major exploration areas. Models currently exist for the North Sea, Australasia, North and South America, Africa (North, East and West), the Caspian region and the FSU.

In addition to the Fiscal Models in GeoX Format, GeoKnowledge customers will have ready access to an experienced group of experts that are intimately familiar with gFullCycle to assist in economic evaluations.

GeoKnowledge's GeoX/gFullCycle integrated tool provides a flexible and scalable decision support solution for robust and simple modelling of exploration, development and production (ED&P) activities. An innovative modelling approach supports consistent probabilistic evaluation of after-tax NPV and commercial risks. Rapid full cycle evaluation of prospects and discoveries gives analysts the ability to compare quickly and more accurately the commercial effects of multiple exploration opportunities. Unique documentation, validation and interpretation functions combined with a comprehensive database supports effective decision-making.

Palantir has deep expertise in international fiscal regimes, Production Sharing Contracts & Buy-Back schemes. Palantir's consultants have extensive knowledge of these regimes from having executed and implemented projects in over 50 countries across all continents.

"Palantir's expertise further strengthens our GeoX solution by allowing users to leverage off-the-shelf fiscal models for quick and accurate analyses rather than having to define and implement fiscals directly in GeoX. Our clients will benefit from our combined strengths and respective expertise," says Charles Stabell, Managing Director of GeoKnowledge.

"We, at Palantir, are excited by this partnership with GeoKnowledge. Clients will benefit from a collaborative best of breed solution. They will be able to seamlessly use our joint-solution to shorten the cycle times required to comprehensively and confidently analyse exploration prospects, " added Jason Ambrose, Managing Director of Palantir Economic Solutions.

For more information on the partnership, contact
Charles Stabell, Managing Director GeoKnowledge, tel: +47 22941123, and
Jason Ambrose, Managing Director Palantir Economic Solutions, tel: + 1832 863 3959

For those interested in learning more about Fiscal Models for GeoX/gFullCycle, please contact your account manager, mail us at sales@geoknowledge.com or contact one of our offices in Houston or Oslo.

 

About the companies:

GeoKnowledge (www.geoknowledge.com) is a vendor of leading-edge decision support solutions for the upstream oil & gas industry.

Established in 1985, our objective is to assist petroleum companies, governments and industry suppliers worldwide in evaluating risks, resources and economic value in exploration and development projects. Our evolving family of GeoX exploration workbench products use object-oriented technology, relational databases, client/server solutions and knowledge-based technology. A common design principle has been a commitment to the use of industry-standard technological building blocks. Through continuous investment in new product development and active partnerships we both leverage industry expertise and support the deployment of complete decision support solutions.

Palantir Economic Solutions (www.palantirsolutions.com) is an integrated consulting and software company specializing in economics and risk analysis in the international energy industry.

In addition to developing the PalantirE3ngine, a fully function economic engine and planning tool, Palantir consultants work on a broad range economic software packages. Palantir partners with clients to find practical and affordable solutions that enhance internal planning and reporting processes. Our extensive experience working inside planning groups around the world gives the Palantir team the greatest ability to understand your business and provide solutions to economic challenges.