CALGARY, ALBERTA--(Marketwired - Jan. 16, 2014) - CriticalControl Solutions Corp. (TSX:CCZ) is pleased to announce that its new ProMonitor solution has been selected by Canadian Natural Resources Limited ("CNRL") for corporate deployment in Canada. ProMonitor is designed to cost effectively enable producers to meet regulatory requirements regarding the maintenance of measurement schematics. ProMonitor is cloud based and stores measurement schematics information in a database which can be accessed through a web browser and rendered as a complete diagram, indexed and accessed by selecting assets or facilities on a geographic map.
An advantage to the deployment of ProMonitor is an industry disruptive method of generating measurement schematic information. CriticalControl's process uses regulatory databases combined with proprietary databases (from the Corporation's NetFlow, ProChart and ProTrend applications) to generate measurement schematic information which is then processed through ProMonitor. The resulting data is then scrubbed by CriticalControl staff to deliver an effective first draft measurement schematic to be validated and finalized by the producer.
"The selection of ProMonitor by CNRL is strong validation of our strategy and an endorsement on ProMonitor's leading position in an emerging business line for us", said Alykhan Mamdani, President and CEO of CriticalControl. "Given the approaching measurement schematics regulatory deadline in 2014, we anticipate continued demand for ProMonitor in the coming quarters".
The agreement with CNRL contemplates that all measurement will be completed by September 30, 2014 and be available on ProMonitor. The agreement is for a three year period and is valued at over $1 Million.
ProMonitor is a cloud based tool to quickly and cost effectively build measurement schematics and a central repository for measurement schematics data. Once implemented, a producer can add functional modules to display field flow diagrams and geographic information system (GIS) mapping. Additionally, ProMonitor can be integrated with production data from the Corporation's other applications to improve business processes related to pipeline corrosion and integrity risk.
Forward Looking Statements:
This press release contains management's knowledge related to regulatory deadlines imposed by government agencies. There is no assurance that contemplated deadlines will not be changed. Management's forward looking statement regarding the anticipated demand for ProMonitor in the coming quarters is based on management's assessment of gas producers meeting regulatory requirements, the Corporation's successful delivery to CNRL and the continued availability of funds for producers to adopt ProMonitor. In the event these success factors are different than the assumptions made, demand for ProMonitor could vary.
In a world of escalating globalization, with an increasingly transient workforce, enterprises have difficulty maintaining their knowledge and are forced to focus on their key market advantages to remain competitive. CriticalControl provides these enterprises with secure and cost effective solutions for the completion of document and information intensive business processes through an integrated offering of software, outsourced services and optimized business processes.