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Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: Herb Duncan who wrote (12479)	9/24/1998 11:01:00 PM
From: Kerm Yerman	Read Replies (1) \| Respond to of 15196

SERVICE SECTOR / Computer Modelling Group Ltd. Expands Sales Initiatives COMPUTER MODELLING GROUP LTD. TSE SYMBOL: CPU SEPTEMBER 24, 1998 CALGARY, ALBERTA--Computer Modelling Group Ltd. (CMG) announced today the expansion of its international marketing and sales initiatives to include five of the world's largest international petroleum exhibitions and conferences. Frank Meyer, President and CEO, said the five shows are in major oil and gas producing regions where CMG is experiencing the largest growth in sales for its leading petroleum reservoir modelling software. More than 50,000 petroleum engineers from oil and gas companies around the world are expected in New Orleans, September 27 to 30, for the first of the major shows, the annual International Technical Conference and Exhibition sponsored by the Society of Petroleum Engineers (SPE), considered to be the largest industry event in the world. Computer Modelling Group Ltd. will provide both technical experts and executives from the Company's new Houston and Bakersfield sales offices and from CMG's head office in Calgary to showcase its leading-edge software which is used to increase production from oil and gas reservoirs. A week later, CMG will be actively participating in the Rio Oil and Gas Expo 98 in Rio de Janeiro, October 4 to 8, where more than 15,000 petroleum executives and engineers are expected to attend South America's largest exposition for oil and gas companies. CMG will be demonstrating its oil and gas recovery-enhancing software, with technical and executive support from the Company's Sao Paulo and Caracas sales offices and from head office in Calgary. The third major international show, the European Petroleum Conference in The Hague, Netherlands, October 20 to 22, is preparing to handle more than 15,000 petroleum executives and engineers attending that region's largest technical conference for oil and gas companies and operators. CMG's active participation includes a booth in the exhibition hall offering demonstrations of CMG's industry-leading software and the latest enhancements. The Company's involvement will be handled by its new sales office in the United Kingdom and supported from Calgary. Frank Meyer said that CMG's expanded participation in the most prestigious international trade shows reflects the Company's commitment to strengthen and expand its marketing and sales effort. "Our participation in these shows is being undertaken with clear objectives in mind," he said, "and they provide us with a forum for pre-arranged meetings to update clients on our advancements and host executive-level meetings with other companies who have expressed interest in bringing the benefits of our technologies to their organizations." In late October, Computer Modelling Group Ltd. will be in Beijing, China, where the Company opened a sales and technical support office last year, for the 7th Unitar International Conference on Heavy Oils and Tar Sands, one of the world's top conferences for heavy oil and tar sands producers. More than 10,000 heavy oil experts from Canada, Venezuela, California, China and other heavy oil producing regions are expected for the triennial conference, October 27 to 30. CMG, acknowledged as a world leader in the development of heavy oil reservoir modelling software, will provide both technical and executive participation from its Beijing and Calgary offices during the conference to demonstrate the latest advances in its heavy oil software products. The Company will also actively participate with technical and executive involvement in Asia's largest conference for oil and gas companies, the SPE's International Oil & Gas Conference and Exhibition, on November 2 to 6 in Beijing. More than 15,000 petroleum engineers from that major oil producing region are expected to attend. Frank Meyer said CMG's active involvement in the World Petroleum Congress last year in Beijing and in a special heavy oil conference there three years ago were strong contributors to the Company's impressive growth in the markets in China, leading to the opening of the Beijing office last year to serve the region. He added that he expects a further positive impact on revenues to come out of the two Beijing conferences this year. Computer Modelling Group Ltd.'s world-class reservoir modelling software is used to locate deposits and identify cost-effective recovery techniques. Frank Meyer said increasing the production of known reserves is an industry with an extremely high potential - up to 70 percent of discovered oil and gas remains in reservoirs, much of it elusive to recovery. "We are finding that in this climate of low world oil prices, companies are looking for ways to enhance recovery from their existing reserves, shifting attention away from the more capital-intensive exploration," he said. "As a world leader in the development and application of technologies used to enhance oil and gas production, we see a very considerable opportunity to assist these companies and to expand our client base for both software and technical support services." CMG already has a blue-chip client base of over 140 companies in 28 countries, including most of the world's major oil companies. CMG's world-class technologies and its "who's who" clients have provided CMG with a strong financial position and an impressive strategic foundation for growth. Computer Modelling Group Ltd. is a leading developer and marketer of software and support services for reservoir simulation used by oil and gas companies worldwide to optimize recovery from existing reserves. The Company has sales and technical support services based in Calgary, Houston, Bakersfield, Beijing, London, Caracas and Sao Paulo. CMG's common shares are listed on the Toronto Stock Exchange and trade under the symbol CPU.