Oildex Announces TrendX(TM)

DENVER and HOUSTON, May 16 /PRNewswire/ -- Oildex (TM), the energy industry's leading digital data exchange and e-payable service provider, announced today the release of TrendX the first business intelligence tool of its kind, designed specifically to address the needs of the energy industry. TrendX enables oil and gas producers to track, manage and contain drilling and operating costs in real-time. TrendX is a SaaS-based (Software as a Service) system.

TrendX is a "point and click" analysis tool that spans across departments. It is used by operations and financial managers to identify and chart areas for strategic improvement and growth. Oildex' SpendWorks e-payable system provides the intelligence data used in TrendX.

Peter Flanagan, President of Transzap, said, "Oil companies understand that high energy prices do not guarantee high profits. As commodity prices rise, so do the costs to drill and operate oil and gas wells. TrendX helps energy companies protect and grow their margins by providing real-time business intelligence to identify trends and opportunities. Engineers, CEO's and accountants use the system to gain instant visibility into their company's current and historic costs, enabling them to make well-informed bottom-line decisions."

Kevin Finnegan, Vice President of Information Systems, Bill Barrett Corporation said, "TrendX gives our engineers the tool they need to easily monitor and control costs while working to increase production in the field."

TrendX is a fully scalable tool that's both accessible and affordable to companies of any size. Both SpendWorks and TrendX are built using a unique hybrid platform of Microsoft smart client & internet-based technologies. They are delivered in the SaaS (Software as a Service) mode.

About Oildex(TM)

Oildex simplifies financial and operational processes by replacing paper-based tasks with digital data and workflow. The web-based software also provides unparalleled access to information about how and where a company spends its money. Through its services, Oildex provides one of the energy industry's largest Internet-based data exchanges serving over 1000 companies and 10,000 users. Currently available commercial services include: digital and scanned invoice processing with Business Intelligence (SpendWorks(TM)), owner/producer relations data posting, check stub reporting (CDEX), crude oil data exchange (CODE), gas data exchange (GRADE), production and sales volume reporting and joint interest billing (JIB Connect(TM)). Oildex has offices in Denver and Houston. This news release and additional information are available: http://www.transzap.com/; http://www.oildex.com/.