WellPoint’s Energy Financial Management is the only Microsoft Dynamics® AX- certified solution in the oil and gas industry - quick to deploy, built on proven solutions, and designed for the complexity of today’s energy world.

WellPoint’s Energy Financial Management Solution

The Only Fully Integrated Financial Solution for the Norwegian Energy SectorWellPoint’s Energy Financial Management solution was built on Microsoft Dynamics AX and designed with the complex needs of oil and gas companies in the Norwegian Continental Shelf in mind, offering a single standard solution for financial management and reporting requirements specific to the Norwegian energy sector. Financial solutions from WellPoint Systems offer a fresh approach to corporate financial management with a best-in-breed solution focused on industry requirements for integration and flexibility. The result is an innovative solution capable of exceeding the financial and accounting requirements of the industry, including authorization for expenditure tracking, license and well controls, cash call management, division of interest, license budgeting, working capital management and joint venture billing using OLF codes.

WellPoint’s Energy Financial Management solution comes preconfigured and integrated with fundamental modules of the Microsoft Dynamics AX platform, resulting in superior performance and robust application functionality. As your organization grows and requirements change, the WellPoint solution becomes the foundation from which to extend your business by enabling critical ERP functionality within Microsoft Dynamics AX. The addition of modules such as CRM, HRM and Procurement provide new solution functionality and gain immediate traction through enterprise integration.

Operational ReportingProduction License AccountingDivision of InterestJoint Venture AccountingAuthorization for ExpenditureCash Call ManagementMulti-LocationMulti-CurrencyMulti-Language

For more information about WellPoint Systems Inc., visit:www.wellpointsystems.com.

Return on Investment

Architected Specifically for the Norwegian Oil & Gas IndustryWhile other financial management and enterprise resource planning systems have been created solely with technology directives in mind, WellPoint’s Energy Financial Management solution has been designed with the needs of oil & gas companies in the Norwegian Continental Shelf at the forefront.

Implement and Maintain Corporate Best PracticesThe flexible and standards-based design of the WellPoint solution ensures that the system can be implemented as a preconfigured solution, or implemented to support the defined business processes and best practices of your business.

Scalable to Support the Growth of Your BusinessThe Microsoft Dynamics AX architecture upon which the WellPoint solution is built can support the needs of growth oriented, mid-tier and even major integrated oil and gas companies. The goals, objectives and ambitions of your organization will never outgrow the unparalleled capacity of WellPoint’s Energy Financial Management solution.

React Quickly to Business Improvement OpportunitiesThe modular architecture of the WellPoint solution offers you the flexibility to add integrated applications like CRM and Procurement to your environment when and if they are ever required for your operations.

Supports Critical Compliance and IFRSThe International Financial Reporting Standards (IFRS) initiative has kicked off a new era of corporate governance. The WellPoint solution supports IFRS as well as the Norwegian Tax Reconciliation reporting requirements which is invaluable to executives and managers in their quest for improved levels of compliance.

Energy Financial ManagementWellPoint Systems

COST CENTER MANAGEMENT

WELL LEVELACCOUNTING

SUB-LEDGER WITHGROSS/NET

FINANCIAL ANDACTIVITY PERIOD

CODING/REPORTINGHIERARCHIES

OIL & GAS SPECIFICREPORTS

AUTHORIZATION FOREXPENDITURE DIVISION OF INTEREST JOINT VENTURE BILLING PRODUCTION LICENSE

ACCOUNTING

ESTIMATES & BUDGETS FLEXIBLE/DATE EFFECTIVE JVB REPORTING

VALIDATION & CONTROLS DOI RULES MANAGEMENT CASH CALL MANAGEMENT

AFE SUPPLEMENTS MULTIPLE REVISIONS AUTOMATION OF BILLING

COST OVERRUN EXCEPTIONMANAGEMENT EXCEPTION-BASED SETUP OLF REPORTING

APPROVALS MANAGEMENT REVERSE/REBOOK/MASS CHANGE COST/ALLOCATIONS

YEARLY BUDGETING

RESOURCE ALLOCATIONS

PARTNER REPORTING

EXPLORATION/DEVELOPMENTACCOUNTING

OPERATIONAL ACCOUNTING

Solution Functionality

Division of Interest

The WellPoint Energy Financial Management solution adds tremendous flexibility to the task of creating Division of Interest (DOI). By providing the ability to establish flexible, date-effective DOIs, track license ownership, and the capacity to support account-based exceptions on the same screen, WellPoint’s solution helps improve the efficiency and accuracy of your operational teams.

Joint Venture Accounting

As an operator, the accuracy and timeliness of the joint interest billing process is imperative. By automating the billing processes for joint venture transactions, companies have the flexibility to establish and enforce the billing rules as dictated by their unique business policies. The solution’s Joint Venture Accounting allows for the most efficient methods of cash call management, working capital management, performing cost allocations, OLF level billing and ensuring timely collection of Accounts Receivable balances.

Production License Accounting

The WellPoint Energy Financial Management solution is a comprehensive application for recording, tracking, distributing, managing and reporting revenue and cost associated with oil and gas production licenses in the Norwegian Continental Shelf. The integrated module will streamline many of the challenges facing the industry such as DOI management; partner level reporting; yearly budgeting; resource allocations; prior period adjustments; YTD and ITD tracking; and budget vs. actual variance analysis.

Authorization for Expenditure

The fundamental need to control capital expenditures mandates that an accounting system have the ability to measure actual against budgeted costs on both a gross and net basis. WellPoint’s Energy Financial Management solution provides a superior level of control and automation through automatic updates and threshold warnings, establishing increased confidence in the resulting data.

Integration

WellPoint’s Energy Financial Management solution and Microsoft Dynamics AX in combination promote seamless and easy integration to other systems that complement the process of financial management. The combined solution offers unparalleled support for the integration to traditional applications like production tracking, payroll and reservoir management, as well as in-house developed solutions. By simplifying the integration process, you can significantly reduce the costs associated with both the build and maintenance of these critical interfaces.

Information Exchange

WellPoint’s solution fully supports web services and provides the ability to share information in a secure fashion, when and where it is deemed advantageous to the company’s operation. The secure exchange of information with employees (in both field and home offices), customers, partners, and even e-commerce applications has quickly become a fundamental requirement for oil & gas companies.

Multi-Location, Multi-Currency, Multi-Language

Be it through organic growth or merger and acquisition activity, most oil & gas companies will eventually expand their business scope to include international operations. When your business reaches this milestone phase, there are significant solution advantages to software technology that supports multi-location, multi-currency and multi-language requirements. Financial solutions from WellPoint Systems facilitate compliance with local accounting and reporting requirements of the international market, while simultaneously meeting home country financial reporting standards.

WellPoint Systems Inc.12596 W. Bayaud Ave., Suite 400Lakewood, CO USA 80228866.987.2238303.987.2238

Suite 2000, 500 - 4th Ave. SWCalgary, AB Canada T2P 2V6 403.444.3900www.wellpointsystems.com