Paradigm Awarded Contract by SCAN Geofisica CA for Venezuelan Oil Project

Paradigm Strategic Consulting to process and interpret 3D exploration data for Petróleos de Venezuela SA (PDVSA) Cardon II project

Amsterdam, The Netherlands – October 15, 2007 – Paradigm™ ( www.pdgm.com ), a leading provider of enterprise software solutions to the global oil and natural gas exploration and production industry, recently announced that SCAN Geofisica CA, a subsidiary of the Norwegian-based SCAN Geophysical ASA, has awarded Paradigm a contract to process and interpret data acquired for the Petróleos de Venezuela SA (PDVSA) Cardon II exploration project.

Scheduled to commence in late summer 2007, the Cardon II project includes collection, processing and interpretation of 2D and 3D seismic data to assist PDVSA with prospect generation for a previously unexplored, 400-square-kilometer area off the northwest coast of Venezuela.

“Paradigm Strategic Consulting offers SCAN local field knowledge, an extensive portfolio of exploration and production applications, as well as the ability to quickly mobilize our team, equipment and technology.” said Mauricio Arboleda, Executive Vice President of Strategic Consulting for Paradigm.

Paradigm Strategic Consulting will assist with quality assurance (QA) and quality control (QC) during the data acquisition onboard SCAN’s offshore survey vessel, the M/V Scan Resolution. At Paradigm’s technical center in Caracas, Venezuela, the Strategic Consulting will process the data and perform an extensive interpretation for prospect generation in the Cardon II field.

“We are pleased to be supporting SCAN and PDVSA on Cardon II,” said Paradigm CEO John Gibson. “The strategic consulting combined with the Paradigm portfolio of applications exemplifies the far reaching range of decision support that we offer our customers. This contract and the expansion of our Caracas office are important steps toward meeting our strategic goal of increasing Paradigm’s presence in Latin America.”

For product information, contact Carmen Comis by phone at +1.713.393.4800 or by e-mail at ccomis@paradigmgeo.com .

About SCAN Geofisica CA
SCAN Geofisica CA is a subsidiary of SCAN Geophysical ASA ( www.scangeo.com ). SCAN Geophysical ASA was established in 2002 as an international seismic data acquisition company specializing in both marine streamer seismic and ocean bottom seismic. Currently operating one 2D and one 3D streamer vessel, the company is scheduled to launch three new state-of-the-art 8-10 streamer 3D vessels during 2008 and one 2002-built 4 streamer 3D vessel during Q4, 2007. Administration is located in Oslo, with representatives in Caracas, Houston and Singapore. SCAN Geophysical ASA is listed on Oslo Stock Exchange’s Oslo Axess under ticker code SCANG, on website www.ose.no .

About Paradigm™
Paradigm Geophysical Corp. ( www.pdgm.com ) helps global oil and gas companies locate new reserves and optimize production in complex geological areas. Paradigm’s technology advances the science of hydrocarbon detection with solutions in seismic data processing and subsurface imaging, prospect interpretation and modeling, reservoir characterization, and well planning and drilling. These exploration and production solutions operate in an open environment with connectivity to third-party data stores to accelerate project creation and turnaround. Paradigm has a global network of sales, services and user support, serving major oil and gas producing regions around the world. For additional information visit Paradigm’s website at www.pdgm.com .

The following are trademarks or registered trademarks of Paradigm B.V. or of its affiliates (collectively, “Paradigm”): Paradigm™, Paradigm logo and/or other Paradigm products referenced herein. All other trademarks are owned by their respective owners.

Forward-Looking Statements
Some of the statements in this press release may constitute „forward-looking statements“ that do not directly or exclusively relate to historical facts. These forward-looking statements reflect our intentions, plans, expectations, assumptions and beliefs about future events and are subject to risks, uncertainties and other factors, many of which are outside of our control. Important factors that could cause actual results to differ materially from the expectations expressed or implied in the forward-looking statements include known and unknown risks. Because actual results could differ materially from our intentions, plans, expectations, assumptions and beliefs about the future, you are urged to view all forward-looking statements contained in this press release with caution. Paradigm does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 

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