Nowcasting Awarded Comprehensive Forecasting Contract from Peak

Nowcasting International has recently signed a comprehensive forecast supply deal with well project management company The Peak Group.

The Peak Group has experienced rapid growth in the number of wells under its management this year; planned operations for 2005 involve the management of up to 30 wells internationally, including deals with some of North Sea's most dynamic new operators.

Nowcasting International is providing Peak with a tailored package of forecasting solutions taking the geographical and operational requirements of Peak's projects into account. The package includes access to Nowcasting's proprietary high-resolution marine forecasting solution, along with general forecasting and detailed current forecasting for Peak's operations in the East Irish Sea, North Sea and globally. "Nowcasting provides detailed, location specific forecasting at a similar price to standard forecast services and Nowcasting were willing to work with us to develop tailored tide and current predictive solutions to support our well operations" says Andy Hinton, Well Team Leader at The Peak Group as the reason for selecting Nowcasting over other services.

This contract is the latest in a string of deals signed by Nowcasting with high profile companies in the offshore oil & gas industry, including a recent multi-annual deal with Canadian independent Oilexco. The Peak deal offers Nowcasting exposure to Peak's growing international portfolio of clients, "and sees Nowcasting further penetrating what was until recently a closed and established market for our competitors, we believe our combination of high value and high quality will continue to win credibility in the market place and bring added success, this can only be good for the market as a whole" states Nowcasting UK manager Tim Mawhood.

Nowcasting International was established in 2000 to supply high resolution marine forecasting to oil companies operating in the North Sea. This unique technology allows location specific forecasting in short time steps for weather sensitive operations. In 2003 as part of the Nowcasting strategy to build a global presence, the NowcastingWilkens partnership was formed with Wilkens Weather Technologies of Houston, Texas. Nowcasting International is now among the world's largest providers of marine forecasting and data to offshore oil & gas operators.