TORONTO, April 6 /CNW/ - ADB Systems International (TSX: ADY; OTCBB:
ADBYF), a global provider of asset lifecycle management solutions, announced
today that it has entered into a customer agreement with Trilogy Energy LP, a
Calgary-based limited partnership active in the exploration and development of
oil and natural gas, and an indirect wholly-owned subsidiary of Trilogy Energy
Trust, a recent trust spinout from Paramount Resources Ltd.
ADB will provide Trilogy Energy with a comprehensive enterprise asset
management technology solution. ADB's technology will enable Trilogy Energy to
schedule maintenance activities, manage its inventory of materials and spare
parts, replenish inventory electronically, and transfer assets from multiple
locations, resulting in streamlined processes and operational efficiencies.
"ADB's technology solutions are extremely well suited for the oil and gas
industry, particularly as companies seek to maximize their output and minimize
disruptions during a period of high resource prices," said Jeff Lymburner, CEO
of ADB Systems. "We look forward to working with Trilogy Energy as it launches
its operations in Western Canada."
Trilogy Energy concentrates its exploration and development activities in
the Kaybob and Marten Creek areas of Alberta, producing more than 25,000
barrels of oil equivalent a day.
About ADB Systems International Ltd.
ADB Systems International delivers asset lifecycle management solutions
that help organizations source, manage and sell assets for maximum value. ADB
works with a growing number of customers and partners in a variety of sectors
including oil and gas, government, healthcare, manufacturing and financial
services. Current customers include BP, GE Commercial Equipment Financing,
Halliburton Energy Resources, the National Health Service, permanent TSB,
Talisman Energy, and Vesta Insurance.
Through its wholly owned subsidiary, ADB Systems USA Inc., ADB owns a
50 percent interest in GE Asset Manager, a joint business venture with GE. ADB
has offices in Toronto (Canada), Stavanger (Norway), Tampa (U.S.), Dublin
(Ireland), and London (U.K.).
The company's shares trade on both the Toronto Stock Exchange (TSX: ADY)
and the OTC Bulletin Board (OTCBB: ADBYF).
This news release may include comments that do not refer strictly to
historical results or actions and may be deemed to be forward-looking within
the meaning of the Safe Harbor provisions of the U.S. federal securities laws.
These include, among others, statements about expectations of future revenues,
cash flows, and cash requirements. Forward-looking statements are subject to
risks and uncertainties that may cause ADB's ("the Company") results to differ
materially from expectations. These risks include the Company's ability to
raise additional funding, develop its business-to-business sales and
operations, develop appropriate strategic alliances and successful development
and implementation of technology, acceptance of the Company's products and
services, competitive factors, new products and technological changes, and
other such risks as the Company may identify and discuss from time to time,
including those risks disclosed in the Company's Form 20-F filed with the
Securities and Exchange Commission. Accordingly, there is no certainty that
the Company's plans will be achieved.
For further information: Contact: At ADB Systems International Ltd., Joe
Racanelli, Director of Marketing, Tel: (416) 640-0400 ext. 273, Fax: (416) 640-0412, E-mail: email@example.com; To request a free copy of this
organization's annual report, please go to http://www.newswire.ca and click on
CO: ADB Systems International Inc.
NI: ORDER INTERNET NASDAQ
-0- Apr/06/2005 13:10 GMT
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