Paradigm(TM) Posts Business Challenge to InnoCentive(R)

LAS VEGAS, Nov. 18 /PRNewswire/ -- Paradigm(TM) ( http://www.pdgm.com ), a leading provider of enterprise software solutions to the global oil and natural gas exploration and production (E&P) industry, announces that it has posted a business challenge to InnoCentive's Open Innovation Marketplace. Paradigm's challenge prompts InnoCentive's Solver community to develop an optimum scaleable software licensing and pricing model, balancing customer satisfaction, high performance computing (HPC) growth and revenue generation. The announcement was made at the 78th Annual Meeting of the Society of Exploration Geophysicists (SEG) in Las Vegas.

Because Paradigm's software system supports the complex analysis of tens of terabytes of information and ultimately influences decisions about significant future exploration and investment, Paradigm must carefully consider how to license and price its HPC software applications. The ultimate solution will explain the optimum pricing model, balancing several complicating factors, and justify the tradeoffs and assumptions underlying its logic.

"Paradigm's long commitment to open innovation is entering a new chapter with our relationship with InnoCentive," said Andrew Stein, Paradigm chief marketing officer. "Paradigm extends its commitment to breakthrough innovation by utilizing InnoCentive's proven resources and embracing open innovation as a premier means to develop leading next-generation software. As a pioneer of open innovation in the E&P industry, Paradigm is dedicated to changing the economics of energy through technology."

Paradigm signed a contract with InnoCentive in October 2008 to augment its internal technology development and accelerate innovation delivery to the industry. The company plans on posting additional critical high-priority challenges on InnoCentive for open innovation. The agreement connects Paradigm's science and technology experts with InnoCentive's global network of "Solvers," a community of progressive physicists, chemists, mathematicians, and other scientists.

For more information on Paradigm products and services, contact your regional office directly (find information at http://www.pdgm.com), or e-mail info@pdgm.com.

About Paradigm(TM)

Paradigm B.V. ( http://www.pdgm.com ) is an industry leader in digital subsurface asset management, serving oil and gas companies worldwide. Paradigm technology solutions for seismic processing and imaging, interpretation and modeling, reservoir characterization and petrophysics, and well planning and drilling operate in an open environment to accelerate results. Paradigm has a global network of sales, consulting and support.

The following are trademarks or registered trademarks of Paradigm B.V. or of its affiliates (collectively, "Paradigm"): Paradigm(TM), Paradigm logo and/or other Paradigm products referenced herein. All other trademarks are owned by their respective owners. Please read Paradigm's notice on forward- looking statements at http://www.pdgm.com/legal.aspx#forward-looking-statements .

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