Energy Navigator Inc.

Energy Navigator Inc.

April 29, 2016 11:04 ET

Val Nav® to Release Alberta Modernized Royalty Framework Calculations That Align With Key Recommendations of Canada's Leading Evaluation Firms

CALGARY, ALBERTA--(Marketwired - April 29, 2016) - Energy Navigator, announces the release of Val Nav 6.6.2, the latest update of Canada's most widely-used engineering and reserves software system that will allow Alberta stakeholders to preview the potential impacts of the Modernized Royalty Framework (MRF). While the information released by the Alberta Department of Energy on April 21, 2016, does not contain all of the information necessary to fully calculate royalties payable, the Val Nav team has conferred closely with petroleum consulting and evaluation firms, including Sproule Associates Limited and McDaniel Associates Consultants Ltd., to ensure that the assumptions used in building Val Nav's MRF calculations are aligned with the recommended assumptions and best practices of Canada's major evaluation firms.

"As always, Energy Navigator's primary concern is to deliver a fully tested and documented tool that existing and prospective Val Nav clients know they can use with confidence," said Cameron Zawalykut, Val Nav Product Manager. "Of course, delivering this release in a timely manner is important, but we would never compromise thoroughness over expediency. With Val Nav 6.6.2, we've taken extra steps to ensure our assumptions and calculations have been vetted as thoroughly as possible in order to assure Val Nav users of the integrity of their results. This is especially critical in light of the fact that, at this point the MRF calculations are still being finalized."

Val Nav's strength and flexibility in fiscal regime modelling, along with our team's in-depth knowledge and understanding of engineering and economics, make it possible for Energy Navigator to respond quickly and effectively to the needs of our industry.

Existing Val Nav clients will be able to download Val Nav 6.6.2 this morning at www.EnergyNavigator.com/clients and begin analyzing the potential impact of the MRF today. The download comes with full release notes as well as recommendations for working with the new MRF calculations.

For others interested in running sensitivities and royalty analysis under the MRF, a free, full-featured version of Val Nav is always available by submitting a demo request through our website.

About Energy Navigator

Energy Navigator's software is used by over 400 E&P companies worldwide. Value Navigator® delivers unprecedented speed and accuracy in oil and gas forecasting, economic evaluations and reserves management. AFE Navigator® is a secure, electronic AFE system that works on any web-enabled device to optimize your AFE workflow and control capital. The company has offices in Calgary, Houston, Denver and Brisbane.

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