FW: TransZap Release txt file

[Karey Goebel <kgoebel@transzap.com>]

> For Immediate Release				Contact Information:
> Monday				         		Rich Bosher,
> VP Marketing
> July 31, 2000					1.888.922.1222
> 
> NEWS RELEASE
> 
> TRANSZAP ACQUIRES PETROLIS.COM
> CREATES FORMIDABLE E-OIL KNOWLEDGE MANAGEMENT COMPANY
> INTERNET PRODUCTS & SOLUTIONS FOR THE GLOBAL ENERGY MARKETS
> 
> DENVER and OAKLAND, Calif. - (July 31, 2000) - TransZap, Inc., home to
> Oildex Connect(tm) (http://www.oildex.com), a Denver-based knowledge
> management company providing Internet connectivity and complementary
> workflow software for the global energy industry, today announced the
> acquisition of Petrolis.com(tm) of Oakland, Calif.
> (http://www.petrolis.com).  The Petrolis.com (tm) configurable exchange
> systems integrate next-generation enterprise resource products (ERP) and
> Internet and client-server products with legacy standards such as EDI
> (electronic data interchange).  
> 
> Terms of the deal were not announced.  
> 
> The Petrolis suite of products will be integrated with TransZap's Oildex
> Connect(tm) solutions, providing end-to-end Internet-accessible, seamless
> connections to back office systems and complementary workflow applications
> for the global energy community.
> 
> Peter Flanagan, President of TransZap, said: "The merging of Petrolis.com
> and TransZap is the first sign of e-commerce companies combining strengths
> to deliver on the promise of creating a robust package of knowledge
> management solutions to the global energy marketplace - from the wellhead
> to the revenue check.  Petrolis' focus on revenue transactions dovetails
> perfectly with our first product release, InvoiceConnect(tm).  Each
> company's visions are providing Internet-architected software for the
> global energy sector, improving workflow efficiencies, better management
> decisions, bottom-line cost reduction and increased returns to operators."
> 
> The Petrolis.com(tm) solution mitigates the difficult task of migrating
> and integrating older PIDX (Petroleum Information Data Exchange)
> standards, with the future of the Internet and PetroXML.  Petrolis has the
> fastest growing Internet-based exchange system with such customers as
> ExxonMobil (NYSE: XOM), Union Pacific Resources [now Anadarko Petroleum
> (NYSE: APC)], Questar (NYSE: STR), FINA, Occidental Petroleum (NYSE: OXY),
> Pioneer Natural Resources (NYSE: PXD).  
> Royalty trusts departments, such as Bank of America, Bank One, Bank of
> Oklahoma, Hibernia National Bank and Amarillo National Bank rely on the
> Petrolis.com(tm) technologies to improve their services to their customers
> and reduce costs. 
> 
> Curt Edmondson, President of Petrolis.com(tm), said, "TransZap's PetroXML
> is the leader in XML technology for the petroleum industry.  Our joining
> forces will provide systems whereby over 10,000 oil and gas operators can
> electronically distribute payments to more than 4.5 million royalty
> owners.  Customers will realize substantial improvement in wellsite and
> production information, fund management and cost savings for the oil
> operator."
> 
> Flanagan added, "Curt Edmondson's addition to TransZap's world-class
> management team is an outstanding achievement for us.  Curt's ability to
> understand a customer's point of pain, develop and successfully market a
> commercial product that provides value and benefits to the customer is
> indeed an asset."
> 
> Denver based TransZap, an application service provider (ASP) and
> enterprise application integrator (EAI), provides a business-to-business
> e-commerce infrastructure platform to the oil industry.  The XML-based
> application, Oildex Connect, automates oil industry B2B workflows,
> delivers secure Internet transactions, and is operated from a Web browser.
> Oildex Connect interconnects and interoperates with popular oil industry
> back office systems via the PetroXML standard.  This news release and more
> information are available at www.oildex.com, www.petroxml.org, and
> www.transzap.com.
> 
> Contact:	Rich Bosher or Curt Edmondson
> 	TransZap, Inc.
> 	303-863-8600
> 	Email: rbosher@oildex.com
> 
> 	Curt Edmondson
> 	Petrolis, Inc.
> 	510 251 1507
> 	Email: jcedmondson@petrolis.com
> 
> 
> Karey L. Goebel
> Oildex, a Transzap Service
> 1580 Lincoln, Suite 930
> Denver, Colo.  80203
> 
> Ph: (303) 863-8600 ext. 116
> Fax: (303) 863-0505
> 
> www.oildex.com
> www.transzap.com
>