PRESS RELEASE

Blueback Reservoir announce the release of the Blueback Toolbox 2011.1

Stavanger, Norway (May 20, 2011) – Blueback Reservoir, a fast growing technology company specializing in providing Ocean* plug-ins and 3D geomodeling services for the global oil & gas exploration and production industry, today announced the release of the Blueback Toolbox 2011.1.

The Blueback Toolbox suite of Petrel* plug-ins contains Petrel functionality features not available in standard Petrel. It has been developed by the Blueback Reservoir development team using the Petrel development framework called Ocean. All functionality has been developed based on requests from Petrel users around the world and the development is coordinated with the Petrel software teams at Schlumberger.

The Blueback Toolbox suite now contains 4 different modules; Blueback Geology Toolbox, Blueback Geophysics Toolbox, Blueback Project Management Toolbox and the brand new Blueback Reservoir Engineering Toolbox. Our main focus for the Blueback Toolbox 2011.1 release is on Petrel Reservoir Engineering. The 4 separate modules enclose a large number of plug-ins filling functionality gaps in standard Petrel. The development focus is to provide Petrel users with functionality features speeding up and improving the various workflows.

“At Blueback Reservoir, we are increasing our effort in developing plug-ins for Petrel to help maximize the value of Petrel. Our popular Toolbox collection of plug-ins already has hundreds of users around the world. Speed up and expand your Petrel workflows with our Blueback plug-ins for Petrel!” - said Paul Hovdenak, Software Portfolio Manager at Blueback Reservoir.

The 4 modules are seamlessly integrated with Petrel with the same familiar and easy-to-use user interface and can be downloaded on the Schlumberger Ocean Store (www.ocean.slb.com). Contact Blueback Reservoir for additional product information or for questions around installation and testing.

**Marks of Schlumberger