P2 Energy Solutions Announces That Hunt Petroleum Corporation Chooses to Implement Enterprise Land(TM) 2.5

HOUSTON—(BUSINESS WIRE)—February 13, 2008— P2 Energy Solutions, the leading provider of business software to the oil and gas industry, announces that Hunt Petroleum Corporation, based in Dallas, Texas, has chosen to implement Enterprise Land(TM) 2.5.

Enterprise Land is the upstream industry's first application built for the enterprise completely using a services oriented architecture (SOA). The modules are component-based and loosely coupled. Therefore, customers gain tremendous flexibility in how functionality is configured, deployed, accessed and integrated with other applications. Additionally, users are able to call up pieces of functionality as a Web service. The solution offers user-level customization capabilities related to forms, fields, processes and validations as well as integrated workflow and alert capabilities; all while maintaining detailed audit trails. Enterprise Land enables companies to radically re-think how they capture, manage and distribute land asset information throughout their organization.

Hunt Petroleum considered it prudent to migrate to a sustainable long-term platform to manage its land assets. Hunt's established relationship with P2 Energy Solutions made them an obvious choice. Steve Payte, Tobin systems specialist, Hunt Petroleum, states, "After reviewing our alternatives, we were very impressed with Enterprise Land's overall ease of use. Despite the early stage of the application, we were reassured with its reliance on familiar functional concepts; which we anticipate will make learning and using the product extremely easy. Additionally, it integrates remarkably well with our business-critical legacy systems; in this instance, P2 Energy Solutions' Tobin GIS Studio, Excalibur and our custom well service application. By implementing Enterprise Land, we feel confident that we have the flexibility and scalability to meet both today's challenges as well as anything the future might hold."

Implementation commenced in December 2007 and is due for completion in spring of 2008. Hunt Petroleum will deploy the following modules from Enterprise Land: Site Customization, Company Owned Lands, LeaseData, Contracts and associated API's. In order to facilitate the implementation process, P2 Energy Solutions is hosting the new environment to more effectively manage and control the data conversion, testing and training efforts. This model reduces the risks that most customers face when implementing new technology. "The hosted migration model took a big burden off of our shoulders from an IT perspective," continued Mr. Payte. "It is a big reason that we can complete the project so quickly."

Tarig Anani, president, P2 Energy Solutions states, "P2 Energy Solutions has undertaken a major R&D effort in developing Enterprise Land. The project involved and continues to involve an advisory board made up of representatives from 13 major oil and gas companies, including Hunt Petroleum. We see Enterprise Land as the culmination of our efforts to merge the best aspects of P2 Energy Solutions' existing range of land management products while migrating to a services oriented architecture. Enterprise Land is indicative of P2 Energy Solutions' continuous search to provide oil and gas companies with product functionality that is both scalable and global."

Mark Eikermann, senior vice president of development, P2 Energy Solutions said, "Enterprise Land's ease of navigation, enhanced search capability and a spread-sheet style set-up for input and updating records provides unprecedented flexibility. The application suite further consolidates P2 Energy Solutions' position as the Energy Sector's premier provider of land management and accounting software."

George Telford, senior vice president of consulting P2 Energy Solutions said, "We are very excited to be partnering with Hunt Petroleum in the delivery of P2 Energy Solution's inaugural Enterprise Land implementation project. We have spent time preparing our project team to perform these implementations efficiently; and working with Hunt Petroleum will help us confirm our approach and ready us for a larger scale product roll-out."

About P2 Energy Solutions Inc.

P2 Energy Solutions focuses on the development and support of data, software and enterprise services to meet the information and business process needs of the energy industry. P2 Energy Solutions is the oil and gas industry's most comprehensive source of asset management solutions including Entelligent, Enterprise Upstream(TM), Excalibur, Qbyte, Enterprise Land(TM), Tobin GIS Studio(TM) and Tobin SuperBase(TM).

With solutions deployed at more than 500 companies worldwide, P2 Energy Solutions enables clients to achieve greater productivity while maintaining effective controls. The company has an 80-year history of serving the oil and gas industry and understands its workflow processes. P2 Energy Solutions has the breadth and depth of expertise to meet the expanding financial, operational and data management needs of energy companies from private independents to supermajors. More information can be found at www.p2es.com.

About Hunt Petroleum Corporation

Hunt Petroleum is a privately owed corporation headquartered in Dallas, Texas. A conservative exploration and production company, Hunt Petroleum conducts business primarily in Texas, Louisiana, Mississippi, North Dakota, The Gulf of Mexico and the Dutch sector of the North Sea. The company currently employees 330 people, most of whom are located in the Dallas headquarters.


P2 Energy Solutions Inc., Houston
Eric Flynn, 713-481-2000
Director of Marketing
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