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CALGARY, ALBERTA -- (Marketwire) -- 07/31/12 -- COGS Solutions is pleased to announce the latest release of their flagship software offering, interCALM 6.0. interCALM (Integrated Capital Lifecycle Management) software, tailored to the Oil and Gas industry, provides not only the application software but also the methodology to help you uniformly manage the most important parts of your business.

interCALM 6.0 offers a wide variety of new features to provide even more benefits to end users, including:

--  AFE (Authority for Expenditure) Module: interCALM's AFE module
    calculates engineering overhead. Additionally, interCALM 6.0 provides
    enhanced management of revisions and supplements.
--  RTD (Request to Drill) Module: Enhancements to the Geological Prognosis
    along with other refinements to the configurable Request for Approval
    workflow engine.
--  Integrated Resource Scheduling Module: Sophisticated drag-and-drop
    functionality simplifies resource scheduling and automatically moves
    capital and production as your scheduled timing changes.
--  Production and Reserves Module: Additional functionality to allow for
    the management of distinct liquid products.
--  Capital Accruals Module: A new module to allow organizations to
    determine their capital accruals and forecast remainder to be spent
--  User Specific Interface: interCALM 6.0 remembers and manages individual
    user preferences to tailor the software to each user's needs.
--  Long-Range Plan: Enhancements to mass update capabilities and ability to
    create and schedule multiple projects based on Project Templates.
--  Additional Reports: interCALM 6.0 offers a variety of new reports
    including a new AFE Partner Report for our integrated AFE Module

These new features, along with the already robust capabilities of interCALM, allow organizations to define their long-range plan, execute on their annual programs, greatly reduce the time spent reconciling budget to actuals, and aid in proactive decision-making to ensure publicized targets are met.

"We are extremely excited about interCALM 6.0 and what it brings in terms of efficiency and accuracy to our current and future customers.", says Duncan McDonald, Technical Director at COGS Solutions. "With integrated budgeting, forecasting, resource scheduling, RTD, AFE and more, there is no other tool on the market that brings together more business processes into one centralized application. Aside from the obvious cost savings of replacing several disparate systems with one, interCALM simplifies the jobs of your Project Teams while providing the truth in the numbers that management, directors and shareholders today demand."

About COGS Solutions

COGS Solutions is a Calgary-based, privately held software company that focuses on delivering process-driven solutions to critical yet underserviced areas of the Oil and Gas Industry. COGS' flagship products include interCALM, which provides Integrated Capital Life-Cycle Management (including inventory, LRP, budgeting, forecasting, execution, Look-back), as well as royaltyITS (formerly RATS), a complete toolset to identify and collect missing receivable revenue from all of your royalty interests. For more information on COGS please visit www.cogss.com.