HOUSTON, Texas - June 16, 2004 - While large volumes of oil and gas are good, large volumes of data poured into a myriad of incompatible databases around the world is not.

The Information Store (iStore™) announced today it is helping tame the data deluge facing oil and gas companies by offering Asset Management System-Production, a Web-based application that transforms disparate data into quick-read charts, tables, graphs and more.

Provided securely and in real time, the data expedites decisions that can help companies maximize oil and gas production while saving thousands of dollars each year.

“Historically, exploration and production companies spent countless hours assembling terabyte upon terabyte of data,” said Barry Irani, president and chief executive officer of Houston-based iStore. “Ideally, the data would be thoroughly analyzed. But with so much information in so many different places, a timely thorough analysis has become   increasingly difficult.” He explained that oil and gas companies rely on asset management teams, whose members must learn and work with several specialized pieces of software to collect and analyze data. These employees spend hours jumping from tool to tool and database to database in search of crucial bits of information.

“Why waste all that time and effort? With our software, asset managers simply have to know how to open an Internet Explorer Web browser,” said Irani. “AMS-P provides an easy-to-use, Web-based interface that pulls in critical information from multiple databases across a petroleum company. Users can access the detailed information they need with the click of a mouse. AMS-P does all of the hard work for them, accessing data from multiple sources and presenting it in a usable format.”

AMS-P leverages the technologies in which petroleum companies already have invested. The software connects to existing databases where they reside, without requiring any data to be moved or reformatted. AMS-P then combines related information from these multiple data sources onto Web pages, organizing the pages by familiar objects like wells, reservoirs and fields. And since no data must be moved or restructured, AMS-P can be implemented quickly.

iStore has developed new, advanced functionality for AMS-P that is unmatched in the marketplace:

• All information in a single location - Users can literally access every piece of data about a well or field from a single Web page. This can include production and reserve information, financial statements, lease information, engineering, geological and geophysical information, and links to associated legal and business documents.
• Security - A multi-layered security solution controls access to specific information through an entitlements engine. Each user can be assigned specific privileges. This enables companies to share information with partners, who can log on and view  the  data they are entitled  to see.
• Customized pages for each user - A MyInfo page enables each user to navigate quickly to the information in which they are interested.

The Information Store, based in Houston, helps petroleum companies access exploration and production (E&P) data wherever they reside and present them in a useful form. As a result, customers improve asset performance, reduce cycle time and maximize return on investment. iStore's software solutions deliver E&P information that asset management teams need to make smart decisions. Founded in 1994, the privately held company has  offices in Houston, Canada and Mexico.