P R E S S R E L E A S E

August 6, 2003

For Additional Information, Please Contact: Gopal Amruthapuri

Petrospec Technologies, Inc

P. O. Box 131133

The Woodlands, TX 77393-1133

Tel/Fax: 936.788.7778

Email: gopal@petrospec.com

Web: http://www.petrospec-technologies.com

Petrospec Releases EQUIPOISE – The Newest Generation of Real-time Pore Pressure and Fracture Gradient Analysis Software

HOUSTON, TEXAS -- PETROSPEC TECHNOLOGIES (The Woodlands, TX) announced at the HOUSTON GEOLOGICAL SOCIETY 2003 SUMMER TECHNOFEST the release of EQUIPOISE, its next generation pore pressure and fracture gradient analysis software. EquiPoise is an Intranet/Intranet application that allows a team of pore pressure engineers to perform continuously updating real-time analyses at the well site or office, or both simultaneously.

Mark Herkommer, President of Petrospec, said “EquiPoise is not only a technical advance in software designed for drilling engineers, it incorporates the algorithmic sophistication demanded by more challenging drilling environments.” Herkommer went on to say “special procedures for extended reach drilling operations, mixed lithology pore pressure and fracture gradient environments, and a user programming feature that incorporates all of the functionality of modern programming languages are among the highlights of this new tool.”

Additional features include:

► Extended Reach Overburden Gradient Calculations

► Real-time Pore Pressure and Fracture Gradient Prediction

► Centroid and Buoyancy Analysis

► Maximum Sustainable Column Height

► Casing Point Calculator

► Integration with pQube, Petrospec’s 3D Seismic Velocity Volume Pore Pressure Processing Software

EquiPoise was developed as a joint industry project over the last year. The project participants were Unocal Corporation, ConocoPhillips, and Geoservices. Three of the goals of the project were to produce software built on proven technology that allowed the easy incorporation of geochemical and geophysical data, mixed units of measure and simultaneous analysis updates in client offices. The first release of EquiPoise has already been deployed for use on wells in Brazil, Azerbaijan, the North Sea, and the Gulf of Mexico.

For more information about Petrospec and its products, please contact Gopal Amruthapuri, Petrospec Technologies, 936-788-7778, email gopal@petrospec-technologies.com, or visit the web site at http://www.petrospec-technologies.com .

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