Aclaro Softworks and Portfolio Decisions Inc. Deliver Web-Based Portfolio Management System

Web-based portfolio optimization system implemented at major European oil and gas company.

Houston, Texas – October 1, 2003 – aclaro softworks (usa), inc. (“aclaro”) and Portfolio Decisions Inc., today announced the first implementation of a web-based portfolio optimization, management, and tracking system at a major European integrated oil and gas company.

The system was developed to support Portfolio Decisions portfolio management methodologies and combines the power of aclaro’s web-based integration, reporting, and analysis application (petroLook*) with Portfolio Decisions’ Perspectives® portfolio analysis system.

Users of the system are able to view their asset portfolio, and monitor the performance of that portfolio using real-time information via petroLook’s interface with the system’s dashboard. PetroLook integrates data from multiple sources, providing a quick look at key performance indicators and making it easy to compare actual versus predicted performance of the company’s assets.

Perspectives is also used to test and evaluate portfolio strategies. When creating a strategy, a user describes a set of assets and opportunities, sets performance goals for the portfolio (i.e. target ROI, target production rates, etc.), and sets any constraints and limits for the portfolio (i.e. maximum capital spending). The Perspectives application then enables the users to fully analyze their portfolio based on the selected strategy. They can maximize the probability of achieving the corporation’s goals and explore and compare alternate strategies using a full suite of analytic tools including optimization, probabilistic analysis and complete decomposition of a portfolio. PetroLook’s reporting interface then provides a means to share selected results of the planning work over the web, without exposing sensitive data.

”Creating and maintaining the data set that is necessary for effective corporate planning can be a manual, time-consuming effort,” states John Howell, President of Portfolio Decisions. “The information required to effectively manage the portfolio is often stored in multiple systems, and the groups responsible for compiling and verifying that data are often reluctant to support ‘another planning exercise’. Using the petroLook application to compile and organize that data can help address this problem.”

“Portfolio Decisions is the leader in providing portfolio management consulting and tools to the oil and gas industry. Their knowledge, experience, and technology has allowed us to extend the problem set addressed by the petroLook application,” says Christoph Faig, President of aclaro softworks, inc. “Through the link to the Perspectives application, we are able to provide the user with portfolio modeling and optimization information, and then combine this with other data to monitor company performance. The ability to deliver all of this data quickly to the desktop is very powerful. Users are able to quickly see how their projects are projected to contribute to the company’s targets and then see whether their results and those of other divisions are delivering the forecasted results.

About Portfolio Decisions Inc.:
Portfolio Decisions is a management consulting firm specializing in portfolio management. Through proven methodology, experienced people and advanced technology, Portfolio Decisions helps clients allocate resources and manage business performance from a portfolio perspective. The results are more informed business decisions and the opportunity for improved business performance. Formed in 1998, Portfolio Decisions is headquartered in Houston, Texas, with an office in Dallas, Texas. For more information, please visit www.portfoliodecisions.com.
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About aclaro:
Aclaro provides web-based business intelligence, data integration, information analysis and reporting solutions for the oil and gas industry. Aclaro’s founders are former oil and gas professionals and are specialists in data analysis and reporting. Their innovative applications and customer focus have established aclaro as a leader in Internet solutions for the oil and gas industry. Aclaro has offices in Calgary, Alberta and Houston, Texas. For more information, please visit www.aclaro.com.

aclaro softworks, inc.
Phone: +1.403.299.6612
Phone: +1.713.392.5306
E-mail: petroLook@aclaro.com
Internet: www.aclaro.com