1. A method for establishing term co-relationships using sentence boundaries, said method comprising: providing a document corpus containing text data to be analyzed; analyzing the document corpus, using a microprocessor, to identify sentence boundaries and produce a list of sentences, including applying rules from a rule base to each text record in the document corpus, where the rules are used to identify periods which designate valid sentence endings, and the rule base includes establishing a sentence ending where a word ends with a period, followed by one or more spaces, followed by a word beginning with a capital letter, establishing a sentence ending where an abbreviation ends with a period, followed by one or more spaces, followed by a word beginning with a capital letter, not establishing a sentence ending where an abbreviation ends with a period, followed by one or more spaces, followed by a word beginning with a lower case letter, not establishing a sentence ending where a numeral is followed by a period, followed by one or more numerals, followed by a space, followed by one or more words, establishing a sentence ending where a numeral is followed by a first period, followed by one or more numerals, followed by a second period, where the sentence ending is at the second period, not establishing a sentence ending where a letter is followed by a period, followed by another letter, followed by another period, followed by one or more words, not establishing a sentence ending where a letter is followed by a period, followed by another letter, followed by one or more words, establishing a sentence ending where a letter is followed by a first period, followed by another letter, followed by a second period, followed by nothing else in the text record, where the sentence ending is at the second period, not establishing a sentence ending where a period is preceded by no space and followed by a space, followed by a numeral, followed by a space, followed by one or more words, and not establishing a sentence ending where an ellipsis appears in a sentence; extracting terms and establishing term correlations from the list of sentences; and validating the term correlations to produce a validated term correlation database.
8. The method of claim 1 wherein the validated term correlation database is used for fault model development.