TGS-NOPEC Begins New Seismic Survey in Morondava Basin, Madagascar

TGS-NOPEC Geophysical has started a new seismic survey in the Morondava Basin, offshore west Madagascar.

TGS' program consists of approximately 10,300 kilometers of multi-client 2D seismic data covering the Morondava Basin and French waters of the Mozambique Channel and is designed to expand the Company's 2,158-kilometer 2001 vintage survey into deeper basins across the entire region. The survey is well funded by industry and will be available early in the 2nd quarter 2006.

A bid round is planned in the Madagascan portion of the survey area for next year. Details of the bid round will be announced from The Office des Mines Nationales et des Industries Strategiques in Madagascar (OMNIS) and closing of the bid round is expected in the 3rd quarter 2006.