This is  to confirm what we have announced previously--namely that the IPA Reservoir FEL Software is now available for acquisition by UIBC Companies wishing to use it internally. The product was developed last year with the support of a UIBC member company. It was further tested and evaluated by both IPA and that company during the first quarter of this year. We are pleased with the initial results and commend it to you for your usage in the appropriate situations.

The cost for a one-year license is $25,000. Licenses run for 12 months, from the time the company agrees to participate until the next year. Please contact us for further product information or to acquire a license for your company.

The software is based on the same concepts and algorithms used by IPA for reservoir FEL assessments during standard data collection interviews and project assessments. However because it is a 'generic' product it has been designed to incorporate as many conditions as possible--therefore the FEL calculations and recommendations are somewhat 'conservative' with respect to the implications of appraisal strategy, reservoir complexity and team effectiveness, etc.

Unlike some of the software products this is not  a "small projects only" FEL software. It is intended for all size projects and at the various stages of project definition. The intent is to permit project and reservoir teams to "check" their level of reservoir definition at various  times other than when IPA typically gets involved. However the "conservatism" that had to be built in (and was explained in the above paragraph) means that it is an adjunct to not a replacement for the standard IPA reservoir analyses where the particularities of the specific project may be better incorporated.

IPA intends to 'support' this FEL product as we do other products. We will, of course, attempt to quickly correct any software problems that inhibit you running it expeditiously within your company. Also it is our intent to maintain lists of improvements/revisions and implement those on a periodic update basis.

For your information, we will be developing a companion Well Construction FEL software over the next year or so. We appreciate your continuing support and assistance. Thanks.