QByte and SSI to accelerate September 2002 Petro-LABTM release
September release offers enhanced exploration analysis, increased efficiencies, and powerful G.I.S.functionality
June 20, 2002 - Calgary, Canada -- Sterne Stackhouse Inc. ("SSI") (CDNX:SSX) a leader in data query, reporting, and analysis software, announced today a software consulting agreement with QByte Services Ltd. ("QByte"), a subsidiary of the Canadian organization of PwC Consulting. Under the terms of the agreement, SSI will augment QByte's development efforts by providing senior Petro-LABTM development services for the duration of QByte's upcoming Petro-LABTM 8.0 release.
SSI will support QByte in continuing to develop the quality of software that has earned software contracts for QByte with 70 of Canada's top 100 oil and gas companies. QByte is a leading provider of management information systems to the exploration and production segment of the oil and gas industry, specializing in E&P financial accounting, land and contract administration, production and revenue accounting systems, and decision support systems. QByte acquired the Petro-LABTM software, originally developed by SSI, through an agreement finalized in March of 2001.
The September 2002 release of Petro-LABTM 8.0 is designed to offer powerful G.I.S. (Geographic Information System) functionality. Specific enhancements, including thematic mapping, flexible contouring, and enhanced data posting functionality, all developed in accordance with the established Petro-LABTM easy-to-use standard, will serve to handle the expanding needs of present and future Petro-LABTM clients. These enhancements can enable even faster data retrieval, increasing the efficiency of exploration, production, and land analysis. Petro-LABTM 8.0 will also feature powerful seismic, pipeline, and facility domains in addition to a variety of high-quality grid and culture datasets.
Sterne Stackhouse Inc. (SSI) is a Canadian software development company providing 'on demand' Business Intelligence solutions. Since 1981, SSI has focused on data retrieval and analysis. Labrador®, SSI's flagship product, provides 'easy to use' client/server, Internet, and wireless data solutions. With Labrador®, business users and technologists of all skill levels, in any industry, can interact directly with all of their relational data sources.
SSI (www.sternestackhouse.com) trades on the Canadian Venture Exchange (CDNX) under the ticker symbol SSX.
For more information contact:
Darryl Stackhouse
President & CFO
Sterne Stackhouse Inc.
403.263.6325
This release may contain forward-looking statements with risks and uncertainties that may cause the actual results to differ materially from those intended or anticipated by the Company. The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.