Knowledge Reservoir Snags Major Consulting Contract with OMV

Knowledge Reservoir, a leading geosciences and engineering consulting company, announced a frame agreement with OMV Exploration & Production GmbH (OMV), of Vienna, Austria, under which Knowledge Reservoir can provide OMV with consultancy services for fully integrated studies in the areas of petrophysics, geology and geophysics, and reservoir engineering, for all of their international assets.

Work under the contract will be awarded on a call off basis against specific work scopes over a three year period, with an option to extend for a further two years.

Commenting on the announcement, Dr. Ivor R. Ellul, President and CEO of Knowledge Reservoir, stated, "Knowledge Reservoir is extremely pleased with the confidence that OMV has put in our consulting services capability, as reflected by this award. We look forward to leveraging our world class asset team consultants to assist OMV in optimizing some of their key drivers -- maximizing recoverability of reserves; reducing finding and production costs, and improving understanding of their reservoir assets."