Upgrades Delay the M/V Scan Stigandi

SCAN Geophysical has been informed that delivery of M/V SCAN Stigandi will be delayed compared with the date announced in the stock exchange notice of August 20, 2007.

The upgrade is taking place at Irving Shipbuilding Inc., in Halifax, Canada. Neptune Offshore AS, who is supervising the upgrade on behalf of the owner Neptune Seismic AS, is in discussions with the shipyard to agree on a new delivery date.

According to Neptune Offshore AS, the delay is caused by limited engineering capacity and late deliveries of equipment from some of the yard's subcontractors. Additional engineering capacity is now being secured in order to accelerate the production.

Based on this information, SCAN has estimated a delayed start up of operations until early 2008, compared to previously announced late November 2007. SCAN will provide a more accurate date as and when received.

SCAN Geophysical ASA was established in 2002 as an international seismic data acquisition company specializing in both marine streamer seismic and ocean bottom seismic. The company is currently operating one 2D and one 3D streamer vessel, and will soon launch one 2002-built 3D vessel and three newbuild state-of-the-art 8-10 streamer 3D vessels during 2008. Administration is located in Oslo, with representatives in Caracas, Houston and Singapore.


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