Geotrace is Awarded the Processing of a Major New Survey Offshore Colombia

LONDON – August 17, 2005 - Geotrace has announced that InSeis AS has awarded them a contract for the processing of seismic data from a major new 2D seismic survey to be acquired this autumn offshore Colombia. InSeis is a Norwegian geophysical company providing non-exclusive seismic data services.

The survey will be conducted by the state-of-the-art seismic vessel M/V Polar Venturer and will comprise approximately 3,000 km of regional lines in the Caribbean Cayos Basin plus approximately 8,000 km of regional and detailed lines from areas offshore the Pacific coast of Colombia. For certain areas a 10,000 meter seismic streamer will be used in order to record long offset data for deeper targets.

Geotrace will be applying an advanced data processing sequence on these data including its latest curved ray Kirchhoff prestack time migration, as well as state-of-the-art demultiple techniques.

Geotrace is part of the Geotrace Technologies group of companies and is a leading provider of proprietary technologies aimed at imaging and integrated solutions used to enhance the optimization of petroleum reservoirs. It serves the worldwide petroleum industry.

InSeis (www.inseis.com) is a geophysical company providing non-exclusive seismic data and associated business opportunities to the global oil and gas industry, including Multi Client 2D, 3D, 4C and electromagnetic Sea Bed Logging surveys.

For more information, contact Geotrace.