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Matrikon™ Well Optimization Technology Helps Upstream Oil Company Minimize Maintenance and Optimize Production Volume

Edmonton, AB – April 19, 2005— Matrikon Inc. (TSX: MTK) today announced that a large Canadian heavy oil producer is rolling out its well optimization solution to all wells following the successful pilot of the technology at 100 wells over the past year.

Matrikon’s well optimization solution has proven production gains of 4-7% for onshore wells and has also proven successful in increasing production and reducing costs in the land based operation of offshore platform recovery facilities.

Nizar J. Somji, Matrikon’s president & CEO stated: “Getting more out of existing reservoir assets is a key strategic priority for producers given the high cost of replacement through exploration and development. The positive financial impact of a 5% increase in production on an average size operation, leveraging existing assets, is staggering. At current oil prices assuming US$50 per barrel, additional revenue is approximately US$100 million. We are very pleased with the results of our intelligent well optimization solution and are exploring opportunities with several additional clients, which we expect will yield similar to superior results. We look forward to applying the technology to other commodities and upstream recovery techniques, including natural gas and steam assisted gravity drainage.”

The well optimization solution collects and analyzes well data and displays health information about the production field in real-time via a web-based dashboard. Health information includes key production indicators such as production, lifting cost, operating efficiency, planned vs. unplanned losses, and capacity.

Wells are monitored 24 hours per day from a central location where operators review performance and focus on continuous improvement. Increases in production alone result in a return on investment measurable in a matter of weeks. Positive safety and environmental implications have also been observed. Operators can better prepare for onsite visits armed with a greater understanding of existing conditions and environmental incidents can be prevented through early warning coupled with corrective action. The well optimization solution is like having your best operator analyzing well information 24 hours per day.

Matrikon’s well optimization solution is based on ProcessSuite™.

Matrikon and ProcessSuite are trademarks or registered trademarks of Matrikon Inc.

About Matrikon Inc.
Matrikon (www.matrikon.com) is a leading provider of industrial plant intelligence solutions that enable manufacturing plants to achieve operational excellence by transforming production data into knowledge to predict and prevent problems and optimize operations. Matrikon's customers achieve agile operations through the combination of external market and plant data to make informed, intelligent decisions in real-time. With offices in major cities throughout North America, Australia, Europe and the Middle East and a global client base including industry leaders in a wide range of manufacturing and process industries, Matrikon's reach is global.

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