Geometry engine provider XoX has appointed a new Chief Executive Officer, John Sutton, and an Executive Vice President of Business Development, Bill Fuller. The new lineup is mandated to expand XoX’s business through mergers and or acquisitions.
Before year-end, XOX plans to release Version 3.0 of ShapesProspector, its first end-user product, as well as ShapesPlanner, a new 2D/3D planning tool for wellbore trajectory design and quality assurance.
XoX has announced net revenues for the quarter ended September 30, 2000 at $505,875 (down from $653,961 the same quarter last year) and a net income of $30,293 or $0.01 per share ($252,144 and $0.08 per share, for the same period in 1999.) The XoX geometry engine is used by Schlumberger-GeoQuest and Seismic Micro Technology. More from www.xox.com.
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