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Spectraseis relocates corporate functions to U.S.

Monday, January 31, 2011

Spectraseis has relocated a number of its major operations to the United States, while continuing to remain a global company with an established presence in Switzerland.

The company's Houston office is being expanded to include operations, marketing and corporate activities with the company's CEO, CFO and head of marketing to be based there. A new Technology Center is also being opened in Denver for Geoscience and Information Technology staff with the mandate to continue delivering value-adding services to the oil and gas industry.

These changes will be in place by March 1, 2011. Among the new products Spectraseis is rolling out are expanded offerings to address both the challenges of unconventional oil and gas reservoirs and the mapping and monitoring requirements of brown field operations.

A recent case study in the tight-gas Jonah Field, Wyoming has demonstrated the use of LF seismic for predicting gas productivity and adding value to both development and exploration programs. Among the technical programs being moved to the Spectraseis Technology Center in Denver will be the development of this service for unconventional shale reservoirs.

In addition, recent results for underground gas storage and mature oil fields have demonstrated the applicability of LF measurements to define hydrocarbon flow patterns and identify bypassed oil or gas. This new service provides a unique opportunity for direct reservoir fluid mapping and monitoring from surface measurements.

Spectraseis' research programs in Switzerland will continue as planned and there will be no changes to the projects of the company's Low Frequency Seismic Partnership (LFSP) consortium, a multi-year Joint Industry Project (JIP) involving seven leading E&P operators.



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