AXYS Technologies Inc. (AXYS) provides WatchKeeper™ oceanographic and meteorological data collection buoy to Venezuela’s state owned petroleum company, Petróleos de Venezuela S.A. (PDVSA).

April 2, 2007

Through its Venezuela Agent, Geofísica y Posicionamiento Satelital (GPS), AXYS has won a competitive contract from Consorcio Oceanográfico Geohidra – Incostas (CGI) for the supply of a WatchKeeper™ oceanographic and meteorological data collection buoy.

The 1.7m diameter WatchKeeper™ is a rugged, lightweight buoy with exceptional stationkeeping and a long life expectancy.  The solar-powered WatchKeeper™ is outfitted with a variety of water quality and meteorological sensors.  Data from the sensors is collected by AXYS’ proprietary WatchMan™ data acquisition system and transmitted to a shore station by Inmarsat C satellite telemetry.  Authorized users can access buoy data on a website set up by CGI.

The WatchKeeper™ was deployed with AXYS Field Service Specialist assistance and is currently supporting PDVSA’s offshore oil & gas exploration activities in 90 m of water.

Terms of the sale are confidential and have not been provided.

PDVSA has activities in exploration, production, refining and exporting oil, as well as the exploration and production of natural gas. PDVSA dominates the oil industry of Venezuela, the world’s fifth largest oil exporter.  For further information please visit:http://www.pdvsa.com

CGI is a consulting engineering consortium based in Venezuela that specialises in offshore studies and services.  For further information please visit www.incostas.com

GPS is a consulting engineering company that specialises in the provision of expert technical solutions to a wide variety of public and private sector clients throughout South America.  For further information please contact Juan Vicente Font at: jfont@gpsca.com

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AXYS Technologies Inc. designs, manufactures, distributes and maintains remote environmental data acquisition, processing and telemetry systems.  For further information contact AXYS at:  info@axys.com or www.axystechnologies.com.