This just keeps getting better -here is anouther .05 EPS. Or a 50 cent gain in stock value!!!
EDMONTON, Alberta--(BUSINESS WIRE)--June 14, 1999--Axion Spatial Imaging Inc. (OTC BB:AXON), a leader in geographical data storage and retrieval technology, today announced that one of its clients, iDc (international Datashare corporation) (TSE:IED.TO), expanded its International GeoOffice product line into the USA by signing an agreement with PennPoint of Houston, Texas, wherein it will bundle its GeoOffice information management and analysis software with PennPoint's general well and production data. Axion receives gross royalties on the sales of International GeoOffice; these royalties are expected to exceed $500,000 a year.
GeoOffice uses Axion's Advanced Digital Mapping Technologies (ADMT) to display topographic maps with oil and gas data. Axion's integrated technologies allow for large volumes of data to be efficiently stored and displayed quickly. GeoOffice has been referred to as "An Oil Company in a Box." GeoOffice offers over 20 databases tightly integrated with over a dozen analytical applications all available through an easy-to-use GIS-type interface.
With Axion's ADMT, GeoOffice provides unprecedented power for the fast generation of high-quality oil and gas prospects. PennPoint is a division of Pennwell Publishing Company who was recently awarded a copy of the Dwight's Energy data general well and production databases as a result of a Federal Trade Commission order to restore competition in the energy information marketplace in the United States. PennPoint will deliver International GeoOffice exclusively as its standard application interface.
Except for the historical information presented herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe-harbor" provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements.
CONTACT: Alliance Strategic (A.S.P.)
Richard Diotte, IR, 418/527-3362
Fax: 418/527-3870
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