PGS Lands Multi-Client Survey in Lebanon

PGS in cooperation with the Ministry of Energy and Water have signed an agreement on multi-client MC3D seismic for offshore Lebanon.

The Phase 1 acquisition will involve approximately 1000 sq km's of MC3D seismic data in the 4th Quarter 2006, which covers an area over the Levant Basin. The survey will be available late in the 1st Quarter 2007 and lies within water depths of 1500m's. It will form the basis for a future licensing round to the industry late in the 1st Quarter 2007.