Stavanger, Norway – 21st February 2010

Kadme AS is pleased to announce the appointment of Mr. Kjell-Arne Bjerkhaug as the new Managing Director, effective 1st March 2010.

Mr. Bjerkhaug joins Kadme from Geograf, where he served as Managing Director. Before that he was VP of Sales and Marketing of CGGVeritas/Seabed.

“It is a real honor to have Kjell-Arne as our new Managing Director” commented Gianluca Monachese, company founder and previous Managing Director. “Kjell-Arne is well known in the industry for his professionalism and ethics. He is a stamp of quality for everybody who works with him: employees, customers, suppliers and competitors alike”.

Mr. Bjerkhaug has many years experience with Seismic data processing, having covered Senior roles with Geco (later Geco-Prakla), where he was also the first to process seismic 3D data in Norway in 1979. In his period with Geco-Prakla he was for four years in charge of several business lines in the Far East/Middle East and Australia.

In 1994 he was appointed Managing Director for PetroData AS, implementing the first multi-client National DataBank for Petroleum data and operating part of the National Petroleum Dataset for Norway (DISKOS). Mr. Bjerkhaug was also Managing Director for Schlumberger Infocenter Norge AS (SINAS), the company that operated the DISKOS data repository in Norway from 2003 to 2008.

Mr Bjerkhaug has substantial national and international experience in providing services to the global E&P community.  He also serves on the Board of Directors of ECIM (the Expert Center for Information Management), a foundation established by the industry to promote Information Management profession, competence and best practices within the E&P Industry.

Gianluca Monachese will be Director of Business Development in the new Kadme organization lead by Kjell Arne Bjerkhaug.

Stavanger, 20th February 2010

Kadme has achieved its best results ever in 2009, not suffering at all from the recession triggered by the financial crisis.
The revenue growth was an impressive 71% over the year before, reaching 18,699,250 NOK. This was due mostly to an exceptional increase (236%) in sales of our Whereoil technology, including the services delivered for its customization for systems like the National Data Repository of Colombia and the ArcticWeb portal.

Profit after tax (and after the bonus) was 2,639,362 NOK, compared to 220,928 NOK the year before.

“This exceptional growth is the result of the passionate dedication of our employees to the development and delivery of our software and services”, commented Gianluca Monachese, founder and Managing Director of Kadme. “That is why we gave out a bonus corresponding to 15% of the profit, distributed equally among all employees”.

Kadme’s Whereoil technology is now a recognized alternative in the market, especially appreciated by oil companies and organizations that want to obtain a comprehensive overview of all the information at their disposal within one unique, user-friendly interface.

“We now need to scale up and reinforce the organization with more exceptional individuals, to guarantee an even bigger growth in the years to come.” continues Mr. Monachese. “We are starting this process by hiring a new Managing Director, a Service Delivery Manager and a few more Software Engineers”.