Knowledge Reservoir, GreyStar Jointly Develop Producing Assets

Knowledge Reservoir announced the signing of an agreement to cooperate in the management, development and operation of oil and gas producing assets. The companies' cooperation will target project opportunities in various regions of the world, including Southeast Asia, China, the Middle East and Latin America.

Knowledge Reservoir's upstream consulting capabilities span the disciplines of reservoir management, surface systems and knowledge management. The company brings to the partnership expertise and global experience in deepwater, improved recovery, field redevelopment, unconventional resources, reserves and merger / acquisition support, flow assurance, pipeline systems engineering and knowledge management solutions.

Dr. Ivor R. Ellul, CEO of Knowledge Reservoir, stated, "The respective business offerings and technical service capabilities of our companies are highly complementary, enabling us to deliver a range of fully integrated and customized asset management solutions to our Clients, whether they are national oil companies, majors, independents or operating consortia. We believe our combined experience and expertise will serve to optimize producing assets while reducing costs for our clients."

John D. Patton, President of GreyStar, added, "This relationship is a great fit for both GreyStar and Knowledge Reservoir. The broad scope of expertise we jointly offer dovetails well into a comprehensive support solution for the management, development and operation of our Clients' oil and gas producing assets. We anticipate that this combined offering will provide entrées into many world class opportunities."