Compagnie Generale de Geophysique (CGG) Announces the Acquisition of More Than 90 Percent of the Votes of Exploration Resources
September 02 2005 - 6:24AM
PR Newswire (US)
PARIS, September 2 /PRNewswire-FirstCall/ -- Compagnie Generale de
Geophysique ("CGG" 0000120164 - GEPH.PA - NYSE : GGY) has acquired
1,766,953 shares in Exploration Resources ASA ("Exploration
Resources"), at a purchase price of NOK 340 per share. As announced
on 29 August 2005, CGG has previously acquired approximately 60
percent of the shares in the company, also at a price of NOK 340
per share. Following the purchase of today, CCG holds in aggregate
5,833,603 shares in Exploration Resources, corresponding to
approximately 88.35 percent of the issued shares. Adjusted for
treasury shares CGG holds approximately 90.02 percent of the votes
in Exploration Resources. Exploration Resources is listed on Oslo
B0rs under the ticker code "EXRE". CGG is a leading supplier of
geophysical products and services to the worldwide oil and gas
industry. Its shares are listed on the Eurolist of Euronext Paris
SA and the New York Stock Exchange (under the form of American
Depositary Shares). About Exploration Resources : Exploration
Resources is a Norwegian based provider of marine seismic services
to the global oil and gas industry with focus on towed seismic data
acquisition, multi-clients seismic services, and 4c/4D/seabed
operations. About CGG : CGG is a global participant in the oilfield
services industry, providing a wide range of seismic data
acquisition, processing and reservoir services to clients in the
oil and gas exploration and production business. It is also a
global manufacturer of geophysical equipment through its subsidiary
Sercel. Email: Internet: http://www.cgg.com/ The information
included herein contains certain forward-looking statements within
the meaning of Section 27A of the securities act of 1933 and
section 21E of the Securities Exchange Act of 1934. These
forward-looking statements reflect numerous assumptions and involve
a number of risks and uncertainties as disclosed by the Company
from time to time in its filings with the Securities and Exchange
Commission. Actual results may vary materially. DATASOURCE:
Compagnie Generale de Geophysique (CGG) CONTACT: Contact :
Christophe BARNINI +(33)-1-64-47-38-11
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