Chroma Energy Announces Joint Venture Participation.Business/Energy Editors SUGAR LAND, Texas--(BUSINESS WIRE)--Nov. 5, 2001 Chroma Short for "chrominance." The attributes of a color, which include its hue (frequency) and saturation (amount of black). See hue and saturation. Energy Inc., the energy exploration company with ImageGenetics(TM), a proprietary pattern recognition and visualization Using the computer to convert data into picture form. The most basic visualization is that of turning transaction data and summary information into charts and graphs. Visualization is used in computer-aided design (CAD) to render screen images into 3D models that can be viewed from all technology applied to 3D geophysical ge·o·phys·ics n. (used with a sing. verb) The physics of the earth and its environment, including the physics of fields such as meteorology, oceanography, and seismology. data, announced its equity participation in F-W Oil Exploration LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . F-W Oil Exploration LLC (FWOE) is a new exploration company, formed between F-W Oil Interests (FWOI) and Chroma Energy, that recently finalized See finalization. a multi-year agreement allowing preferred access to a third party worldwide 3D seismic library of more than 270,000 square kilometers featuring more than 4000 Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east blocks. FWOI will provide its seasoned management team skilled in exploration and producing operations, and Chroma Energy will utilize its proprietary prospect generating technology to rapidly exploit the seismic data. Chroma Energy's equity interest in FWOE was secured in return for access to Chroma's proprietary technology. Chroma can increase its equity through investment. Expenses associated with Chroma's employees and technology will be reimbursed. FWOE will benefit from Chroma's geoscientists utilizing ImageGenetics to prospect on 3D seismic provided in the Gulf of Mexico, offshore Brazil and other international areas. "Our participation in this joint venture is a great step forward for Chroma Energy. Our equity interest is directly aligned with the vision that our investors, management and employees have for our company," said Don Voelte, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Chroma Energy. "As an exploration technology innovator, we continue to create and use the best science to discover oil and gas reserves throughout the world." "We are extremely pleased to have Chroma Energy as a participant in F-W Oil Exploration," said Frank Wade, chairman and CEO for FWOE. "F-W considered several options to create a technical advantage for our exploration efforts, and Chroma Energy is that clear advantage. We look forward to great success for our company as a result of Chroma's participation." About F-W Oil Exploration LLC: FWOE's focus is to explore and produce in conventional water depths in the federal waters of the Gulf of Mexico. Besides the unique advantages of the data and technology available to FWOE, the company also has significant future opportunities for growth and expansion outside the initial area of focus. About Chroma Energy Inc.: Chroma Energy consistently develops high quality prospects by combining the oil and gas finding expertise of its staff with sophisticated, proprietary pattern recognition and visualization tools. Chroma's technology provides unique geologic ge·ol·o·gy n. pl. ge·ol·o·gies 1. The scientific study of the origin, history, and structure of the earth. 2. The structure of a specific region of the earth's crust. 3. A book on geology. insights to and substantially reduces the cycle time of prospect generation. Chroma Energy exploits its drillable prospects through exploration and marketing relationships with leading exploration and production companies. Chroma Energy is headquartered in Sugar Land, Texas, and its research and development facility is located in Boulder Boulder, city, United States Boulder, city (1990 pop. 83,312), seat of Boulder co., N central Colo.; inc. 1871. A Rocky Mountain resort and a suburb of Denver, it is the seat of the Univ. of Colorado (1876). , Colo. ImageGenetics is a registered trademark of Chroma Energy Inc. |
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