Paradigm Names David Richard as President of its Canadian Operations

Paradigm has appointed David Richard to the position of President, Canadian Operations. Paradigm's Canada office, based in Calgary, is a major player in the Canadian market in both software sales and geophysical services, particularly following the acquisition last year of the Reservoir Technologies Division (RTD) of Core Labs. Mr. Richard's appointment is a result of the company's expanded activity and commitment in this important region.

With a strong background in managing services and technology businesses in the oil and gas sector, coupled with a solid technical E&P background, Mr. Richard brings to Paradigm a wealth of experience, predominantly in the North American market.

His most recent position, prior to joining Paradigm, was President and CEO of Kelman Technologies (KTI on the Toronto Stock Exchange), a publicly-traded service company headquartered in Calgary, with offices in Houston, Denver and the UK. In that position, Mr. Richard succeeded in growing revenues by 82% and reversing net losses to significant net income within three years. Prior to that, he served as President and COO, first of Canadian Operations, and then as CEO North American Operations, at IHS Energy Group. Previous employment also includes an executive position at Photon Systems, where he succeeded in increasing software sales by 300%, and Petro-Canada, where he served for many years as Senior Geophysicist.

Elie Barr, Paradigm President and Chief Operating Officer, welcomed the appointment of Mr. Richard, saying: "David has proven his skills in achieving significant business successes in all his previous positions. We are confident that under his leadership, our Canadian management team and its dedicated staff will further expand our successes in the Canadian market through a strong and unified organization, incorporating both our services and product groups."

Mr. Richard holds a B.Sc. degree in Engineering Physics and Math from St. Francis Xavier University in Antigonish, Nova Scotia, and is a member of the SEG, EAGE and CSEG.