P2 Energy Solutions Announces the Development of Enterprise Land Lease Acquisition...

P2 Energy Solutions Announces the Development of Enterprise Land Lease Acquisition 1.0

HOUSTON--(Business Wire)--
P2 Energy Solutions, the industry's leading provider of oil and
gas software, is pleased to announce the development of Enterprise
Land Lease Acquisition 1.0. Lease Acquisition will provide a way to
easily capture and report on lease, mineral and surface ownership
information based on legal land descriptions. This module will provide
ease and flexibility in leasing activity, tracking of budget, costs
and payment of drafts and is uniquely capable of integrating the
wealth of data gathered by brokers or land agents at the field level.

A heightened awareness of data sensitivity and cost controls has
forced companies to reassess how they identify and capture field data
as it pertains to land management. The result is Lease Acquisition, a
broker management system housed and operated by an oil and gas
company. What is radically new about Land Acquisition is that it
focuses on managing field operations from a company's perspective.

Traditionally, independent brokers have been responsible for
sending information back to the oil and gas companies they serve -- a
field focus. This data flow required reentry at the company level and
was therefore slow, non standardized and susceptible to inaccuracy. By
using a unique company-centric focus, Land Acquisition radically
simplifies the management of a company's field land operations. Via
the Internet, the broker connects directly to the centralized database
held within the Lease Acquisition module, where through an online Q&A
process they directly input data into a standardized format. The
result is information available to the company land managers in a
continuously updated and accurate flow. Ultimately, Lease Acquisition
provides unparallel control and management by the company and relieves
the burden of system and database management in the field.

Lease Acquisition is a module within the Enterprise Land suite of
products. As such, it is developed in .NET and designed within the
scope of a Service Oriented Architecture (SOA). Lease Acquisition
utilizes APIs to apply standards for moving data in and out of
Enterprise Land, as well as integration to accounting platforms and
interface with other systems. Since land descriptions and document
locations are critical to the process, GIS is a key element in the
system. Lease Acquisition assimilates with Enterprise Land's
LeaseCost, LeaseData and Tobin GIS Studio. Additionally, the
incorporation of spatial and textual land systems opens up a secondary
dimension for operations. Professionals are now able to open an
interactive map and immediately analyze thousands of textual records,
radically reducing the time required for analysis.

Mark Eikermann, senior vice president of development, P2 Energy
Solutions, comments, "Lease Acquisition 1.0 will be available within
the 3.0 release of Enterprise Land in late 2008. Its introduction
offers P2 Energy Solutions' customers the ability to establish a
repository of title data that can be accessed by brokers, attorneys
and field landmen; the ability to improve the accuracy and timeliness
of communication between the company and field personnel; the
elimination of reentry and verification of data and the potential for
associated keying errors; and reduced duplication when searching
title, acquiring leases and curing title opinions."

Tarig Anani, president, P2 Energy Solutions, notes, "Any upstream
oil and gas company whose focus is on exploration and development
benefits from the introduction of Lease Acquisition. With
unprecedented speed and accuracy, the module offers the most complete
and fully functional broker and field management tracking system in
the market. The elimination of redundant processes coupled with swift
responses to changing market conditions leads to significant cost
reductions. The culmination of a collaborative effort by some of P2
Energy Solutions' largest customers, the Lease Acquisition module is
another example of P2 Energy Solutions commitment to research and
development on behalf of the energy sector."

About P2 Energy Solutions Inc.

P2 Energy Solutions focuses on the development and support of
data, software and enterprise services to meet the information and
business process needs of the energy industry. P2 Energy Solutions is
the oil and gas industry's most comprehensive source of asset
management solutions including Entelligent, Enterprise Upstream(TM),
Excalibur, Reserve Management, Qbyte, Enterprise Land(TM), Tobin GIS
Studio(TM) and Tobin SuperBase(TM).

With solutions deployed at more than 450 companies worldwide, P2
Energy Solutions enables clients to achieve greater productivity while
maintaining effective controls. The company has an 80-year history of
serving the oil and gas industry and understands its workflow
processes. P2 Energy Solutions has the breadth and depth of expertise
to meet the expanding financial, operational and data management needs
of energy companies from private independents to supermajors. For more
information, visit P2 Energy Solutions at: www.p2es.com.

P2 Energy Solutions
Senior Marketing Specialist
Tamara Murphy, 713-481-2004
tmurphy@p2es.com

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