CMG, McDaniel and Hatch Announce Strategic Agreement to Deliver Comprehensive Industry-Leading Solution for Carbon Capture and Storage

CALGARY, AB / ACCESSWIRE / January 19, 2023 / Computer Modelling Group Ltd. ("CMG") (TSX:CMG), McDaniel & Associates Consultants Ltd. and Hatch Ltd. are pleased to announce that they have entered into a strategic agreement to deliver a comprehensive, end-to-end solution for the planning and execution of carbon capture and storage (CCS) projects globally.

With the global presence and expertise of the three companies, this collaboration provides a streamlined, expert advisory and technology solution that supports the full scope of CCS projects including feasibility, subsurface modelling, regulatory, and surface facility planning and execution.

"Technology plays a crucial role in understanding subsurface reservoir dynamics which is necessary for the successful execution of complex CCS projects," stated Pramod Jain, Chief Executive Officer of CMG. "This collaboration is an incredible opportunity for CMG to contribute our critical simulation technology and decades of experience in subsurface CO2 injection to a partnership that will deliver a comprehensive CCS advisory service, supporting projects from ideation through to execution. It exemplifies our commitment to partnering with industry leaders to deliver best-in-class solutions."

"Carbon sequestration projects are complex, involve significant investment in facilities, pipelines and design and require a detailed understanding of the subsurface," commented David Jenkinson, Executive Vice President from McDaniel. "This three-party partnership delivers comprehensive and integrated CCS solutions from geological and reservoir engineering, subsurface modelling and facility design in one cohesive group."

"We are incredibly excited about the Hatch-McDaniel-CMG alliance for delivering end-to-end low-carbon solutions to clients, not only in the energy industry, but in other industrial sectors as well," stated Paul Krawchuk, Global Director - Upstream Oil & Gas for Hatch. "Being able to bring to the partnership our decarbonization roadmapping and surface facility design for the capture of CO2 from industrial sources and tie them together with subsurface components of carbon capture projects will help our clients navigate this rapidly emerging space, eliminate the interfaces between multiple service providers, and deliver complete solutions to help decarbonize their operations."

Empowered by a combination of sophisticated software solutions and technical excellence, this collaborative offering of multidisciplinary expertise from each of the three companies provides a unified one-stop solution to minimize risk, improve efficiency and maximize value through the entire carbon management lifecycle.

About CMG

CMG (TSX:CMG) is a global software and consulting company providing advanced reservoir modelling capabilities to the energy industry. CMG provides cutting-edge technologies that support critical field development decisions for upstream planning and energy transition strategies. CMG is headquartered in Calgary, AB, with offices in Houston, London, Dubai, Bogota, and Kuala Lumpur. For more information, please visit www.cmgl.ca.

About McDaniel

McDaniel specializes in the evaluation of oil and gas reserves and resources for third party certification and M&A deal support. Their experience spans over 75 countries and includes insights and evaluation of key hydrocarbon basins around the world. As part of their CCS solutions they also provide subsurface feasibility studies, advisory and auditing. For more information, please visit www.mcdan.com.

About Hatch

Hatch is a global engineering, project management, and professional services firm with more than six decades of experience in the energy, mining, and infrastructure sectors. With over 9,000 employees globally, Hatch has been designing CCUS facilities for more than 20 years, dating back to the initial phases of the Weyburn and Midale CO2 Enhanced Oil Recovery (EOR) projects in Western Canada. Their expertise in CCS facility design and implementation includes flue gas handling and pre-treatment, capture technology selection, CO2 compression, dehydration, and pipeline design. Hatch's significant background in industrial gas cleaning and complex ducting design provides unique insights into the intricacies of integrating new systems into complex brownfield environments. For more information, please visit www.hatch.com.

For investor inquiries, please contact:

Kim MacEachern
Manager, Investor Relations
cmg-investors@cmgl.ca

For media inquiries, please contact:

Kris Howery
Head of Marketing
marketing@cmgl.ca

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements". Forward-looking statements can be identified by words such as: "anticipate", "intend", "plan", "goal", "seek", "believe", "project", "estimate", "expect", "strategy", "future", "likely", "may", "should", "will", and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding the role of simulation in CCS projects, the comprehensiveness of the proposed solution; and the ability of the solution to help decarbonize operations.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are detailed in the companies' public filings.

Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

SOURCE: Computer Modelling Group Ltd.