Excelsior Selects Paradigm for Canadian Oil Sands Projects

Paradigm(TM), a leading provider of enterprise software solutions to the global oil and natural gas exploration and production (E&P) industry, announced that Excelsior Energy Ltd ("Excelsior") has selected Paradigm Strategic Consulting services for development of its Canadian oil sands program. Excelsior, an early stage oil sands exploration and development company, has chosen Paradigm Strategic Consulting to accelerate development planning at its Hangingstone oil sands resource play in the Athabasca oil sands region of Alberta. The announcement was made at the 2008 Association of American Petroleum Geologists (AAPG) Annual Conference and Exhibition in San Antonio, Texas.

Paradigm Strategic Consulting will provide seismic processing, reservoir characterization, and resource and uncertainty assessment solutions to Excelsior for its Steam Assisted Gravity Drainage (SAGD) projects. Paradigm technologies to be used in the delineation of the stratigraphically complex oil sands area will include Paradigm GOCAD®, a software solution for geological modeling and uncertainty assessment, and Paradigm CRAM®, a new application for depth migration processing, among others.

Excelsior has completed a 26 core well program at Hangingstone and delineated areas of high quality, homogeneous bitumen sands. The McMurray Formation has been cored and evaluated with a full suite of wireline logs to confirm reservoir thickness and quality.

"Paradigm's technology and oil sands expertise will allow us to integrate all of our log, core and seismic data, characterize a complex reservoir and build a resource model," said David Winter, president and CEO of Excelsior Energy. "Paradigm Strategic Consulting has extensive experience within the Hangingstone area, and combined with its portfolio of advanced applications, will assist us in choosing the optimal development options, and accelerate development plans for a SAGD pilot project."

"The Alberta oil sands are an extremely important resource, and Paradigm is looking forward to working with Excelsior in the development of its oil sands resources," said Jorge Machnizh, Paradigm's president and chief operating officer. "Paradigm Strategic Consulting will assist in the integration of petrophysical, geophysical and geological data in order to create an accurate reservoir model, allowing Excelsior to mitigate delineation and development risk and optimize the planning for its SAGD pilot project at Hangingstone."

"The oil sands continue to be a basis for significant investment and activity within our industry and is an area of critical focus for Paradigm Canada," said Mike Miller, Paradigm Canada's regional vice president. "We have invested in a dedicated oil sands group, with full access to our entire technology portfolio and strategic consulting services, and have been working closely with many of the major players in the development of the oil sands. We are delighted that Excelsior Energy has chosen Paradigm's technology and services to further advance its oil sands resource play."