Cindy Kelemen
Marketing Director
DO2 Technologies
ckelemen@do2.com
ARC Financial Corporation, a Calgary-based investment management firm focused on the Canadian energy sector, and Mr. Rod Munro, the successful founder of Munro Engineering Inc. and Argus Technologies Inc., today announced the launch DO2 Technologies Inc. The new company will provide the global oil and gas industry with the next generation of Internet-enabled business-to-business software solutions that electronically automate and simplify complex workflow processes.
"We will be introducing a new generation of Internet-based technology that will become the benchmark for B2B applications in the oil and gas sector," says Munro, DO2's President and CEO. "DO2's focus is the development of E-Commerce solutions that optimize industry workflows, deliver knowledge management capability, and enable integrated collaboration among corporate and operational departments and external vendors." Munro also noted that the company would soon be staffing a U.S. office to serve that market.
Mr. Philip C. Swift, President of ARC Financial, the company involved with DO2's seed round of financing explained: "We are well aware of Mr. Munro's proven track record of success in developing and marketing software products to the oil and gas industry. Our industry knowledge and research indicates that DO2 Technologies has a significant global market opportunity in the workflow solutions sector of the oil and gas industry. We are excited by this opportunity and firmly believe that DO2 Technologies can become the global leader in this sector."
Munro added that global oil and gas companies continue to face growing challenges to improve their operational efficiencies and bottom-line performance. This he believes can be accomplished through the automation and integration of workflow processes both within their organizations and with external vendors. "At DO2 Technologies, we are leveraging the power and the reach of the Internet to provide industry-wide, automated process efficiencies and collaborative environments that previously were not possible."
Since the early 1980s, Mr. Munro has been dedicated to creating industry-leading technologies for the oil and gas industry. Throughout this period, he maintained a fundamental belief that computers would be used to gather detailed drilling and production data at the well site and communicate this valuable information to technical and operational databases throughout an organization. In 1984, he formed Munro Engineering and developed what today is the most widely used drilling database software in the history of the oil and gas industry. In 1994, Munro Engineering was acquired by Landmark Graphics Corporation, now a Halliburton company.
In 1994, Mr. Munro founded Argus Technologies where he spearheaded the development of one of the first Internet business-to-business applications called MapGuide. This unique interactive software program provided users with Internet access in real time to engineering designs, maps and other critical data, regardless of geographical location. In 1996, the technology was acquired by Autodesk Inc. Today, MapGuide continues to be an integral component of Autodesk's Internet strategy.
ARC Financial is a Calgary-based investment management firm focused on the Canadian energy sector. The Company has a unique combination of expertise in investment research, equity investment, production management, corporate merger, acquisition and divestment transactions as well as broad operational experience within the energy sector. ARC's activities are divided between two areas of focus; investment management and production management. Investment management operates primarily through three funds including two private ARC Canadian Energy Venture Funds, and the publicly traded ARC STRATEGIC Energy Fund (AEF.UN - TSE). Production management operates through the ARC Energy Trust (AET.UN - TSE). The company's strategies are founded on a commitment to develop and maintain unique expertise and knowledge focused on the energy sector, and to maintain a leadership position in all areas of business in which it operates.
DO2 Technologies is a developer and marketer of open, Internet-enabled business-to-business (B2B) software solutions that electronically automate and simplify complex workflow processes for the global oil and gas industry. The company's next generation workflow solutions streamline and integrate company-wide knowledge online, allowing for collaborative business approaches among separate parties including drilling and production, finance, procurement, purchasing and external service providers and partners. Further information about DO2 Technologies can be obtained by visiting www.do2.com.
Cindy Kelemen
Marketing Director
DO2 Technologies Inc.
(713) 260-9693
ckelemen@do2.com
http://www.do2.com