Grant Geophysical Lands 3D Seismic Project in Venezuela

Grant Geophysical has entered into a contract with PDVSA to conduct a large, onshore 3D seismic survey in Venezuela.

The contract calls for Grant to acquire approximately 730 square kilometers of 3D seismic data in Roblote 3D Phase I. It is estimated that Phase I of the project will operate for the remainder of 2004 and into a large portion of 2005. The project will be conducted in the states of Guarico and Anzoategui, central west part of Republica Bolivariana de Venezuela.

Narciso Chiquillo, Executive Vice President of Grant commented, "This project will utilize Grant's experience in the region and we're very pleased that Grant will serve such an important role in PDVSA's development plans. We are keen to participate again in seismic activity in Venezuela and this contract is a further step towards solidifying Grant's business strategy in Latin America."