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CALGARY, ALBERTA -- (Marketwired) -- 06/05/13 -- COGS Solutions is pleased to announce the release of the newest version of their flagship software, interCALM 6.5. This release has enhanced performance and added critical features to solidify interCALM as the most robust, industry-focused integrated capital management tool available today.

Notable additions to this latest release include:

AFE Generators Enhancements: interCALM 6.5 has improved the flexibility of your approval matrix, enhanced handling of revisions and supplements and streamlined notifications both inside and outside of the application.

AFE Accruals: A new addition to interCALM, an AFE Accruals Worksheet helps generate accurate capital accruals. interCALM combines project information with Field Estimates, AFE estimates and incurred costs to date to suggest what the final accrual should be. Customizable to each site, accruals can also be easily uploaded to your accounting system and go through an approval process to further drive accountability throughout the budget process.

Improved Resource Scheduler: interCALM 6.5 builds off of the Resource Scheduler which was released in version 6.0. This newest edition continues to provide click-and-drag functionality to schedule activities (such as drills) with a complete overhaul to improve performance and usability. Scheduling is simplified with the ability to view a single rig, a group of rigs or all rigs.

New Reports: interCALM 6.5 introduces two new reports including the Capital Breakdown Report which displays capital grouped by geographical area and type, as well as, the Production Wedge Report which allows users to view base and incremental wedge for the upcoming year, and any number of years into the future, to deliver a long-range forecast. Both reports chart the data graphically as well as providing both monthly and quarterly numerical data.

These new features continue to give E&P organizations an advantage when defining their long range plans and executing their annual programs. With interCALM, companies can greatly reduce the time spent reconciling budget to actuals while improving capital management to accurately gauge the financial health of the organization and prepare for future growth.

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.