Pandell Acquires Divestco's Land Software: LandRite, iLand, and MapQ

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Calgary based oil & gas software company Pandell has acquired all of Divestco's land management software assets. The acquisition includes three software solutions and over 120 customers comprised of E&P and service companies.

We now offer the most comprehensive land toolset in the energy industry.

Pandell Technology Corporation, a pioneer of Software-as-a-Service (SaaS) industry solutions, announced today that it has purchased the land management software set: LandRite, iLand, and MapQ, from Calgary-based geoscience solutions provider, Divestco Inc. (TSX Venture Exchange symbol “DVT”). The transaction includes the three land software assets, the associated resource team, and a large customer base of more than 120 energy companies. The transaction was an all cash deal.

Combined with the company’s existing product line, the acquisition clearly positions Pandell as the industry leader for surface and mineral land solutions in Canada. Now more than 250 oil & gas producers and land brokerage companies use Pandell’s land systems to manage all of the work related to their surface and mineral agreements.

“We are extremely excited to bring the LandRite, iLand, and MapQ software products into our suite of oil and gas software solutions,” says Greg Chudiak, Pandell’s President and CEO. “With the addition of these products, we now offer the most comprehensive land toolset in the energy industry. And we’re not stopping there. While our competitors may be cutting back on their software development during the current industry downturn, we’re doing the opposite. We’ll be working hard over the coming months to improve our entire suite of land products to ensure maximum ROI for our clients.”

To see a demo or request information about any of Pandell’s land software products, click here. Visit our website at http://www.pandell.com.

About Pandell
Pandell is a software solutions company that delivers industry specialized software products and business services. For oil and gas companies, Pandell offers a suite of back-office software products and outsourced production and financial accounting services. For enterprise organizations, Pandell builds and manages large-scale, .NET web-based applications. Combining its strengths of advanced Lithium™ technology and proven industry expertise, Pandell delivers the most modern software solutions and business services to its clients.

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Karen Beagle
Pandell Technology Corporation
(403) 685-6235
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