Pandell Technology Corporation Acquires Risk Innovations Consulting Inc.

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Pandell's acquires Risk Innovations Consulting Inc., an established provider of CFO support services including financial reporting, IFRS transition, and internal control certification. The expansion places Pandell as a leading provider of business and financial accounting services, including IFRS and risk advisory services.

From our experience gained through risk management consulting with SOx/NI-52-109 and IFRS, we've consistently anticipated business resource needs and evolved to meet those challenges. By joining forces with Pandell, we will be able to combine that expertise with a wider range of industry products and services, enabling greater opportunity to fill accelerating gaps in the business market.

Pandell Technology Corporation, a pioneer of Software-as-a-Service (SaaS) solutions for the oil & gas and government sectors, announced today that it has acquired Risk Innovations Consulting Inc., an established provider of CFO support services, including financial reporting, IFRS transition, and internal control certification.

Risk Innovations is Pandell's fourth acquisition in four years; further enhancing Pandell's position as a leader in delivering E&P industry tailored products and services. The acquisition includes a team of highly qualified accounting professionals that provide specialized oil & gas accounting and reporting, IFRS, and internal control services. The team has joined Pandell's Business Services Division and will be part of Pandell's NexusWorkforce™ offering.

"Risk Innovations has a successful track record in delivering professional services to its clients, through an affordable model," says Ken McBean, former President of Risk Innovations and new Vice President of Pandell's Business Services Division. "From our experience gained through risk management consulting with SOx/NI-52-109 and IFRS, we've consistently anticipated business resource needs and evolved to meet those challenges. By joining forces with Pandell, we will be able to combine that expertise with a wider range of industry products and services, enabling greater opportunity to fill accelerating gaps in the business market."

"Pandell is committed to providing our clients with the most professional and cost effective business consulting and resource services available," says Greg Chudiak, Pandell's President and CEO. "The acquisition of Risk Innovations enables us to grow our services to include resources that have been increasingly difficult and expensive for small and medium sized businesses to obtain. We're pleased that we'll now be able to offer these professional services to our clients. A good example is our IFRS packaged offering that provides assessment and implementation services for making the transition over to the new International Financial Reporting Standards."

About Risk Innovations Consulting Inc.
Organized as a Calgary based, boutique risk management practice in 2004, Risk Innovations provides CFOs with the specialist expertise necessary to address current issues such as the transition to IFRS, CEO/CFO internal control certification and financial reporting. The company's resources include seasoned professionals with Big 4 or equivalent industry experience; designations including CA, ACA, CMA, CGA; and specialist designations that include CISA, CCSA and certification in IFRS.

About Pandell Technology Corporation    
Pandell is a software solutions company that delivers industry specialized software products and business services. For oil and gas companies, Pandell offers its NexusSuite™ of oil & gas software products and its NexusWorkforce™, accounting and advisory services. For enterprise organizations, Pandell builds and manages PLISolutions™, large-scale, web-based applications delivered on Pandell's advanced technology. With its industry expertise and proprietary Pandell Liquid Intelligence™ technology ("PLI"), the company delivers the most modern, affordable software solutions and business services to its clients.

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