Wavefield Inseis Acquires AIM Geophysical

Wavefield Inseis AS said that it has formally finalized the acquisition of the Houston based multi-client seismic data specialist AIM Geophysical in a cash-only transaction.

Founded in 2000, AIM Geophysical has been extremely successful in attracting industry interest in the multi-client 3D data sets it has acquired both on and off the shelf in the highly competitive Gulf of Mexico region using traditional towed streamer technology and Ocean Bottom Cables (OBC).

The reputation of AIM Geophysical and their focus on the Gulf of Mexico will greatly enhance the current international portfolio and multi-client business development activities of Wavefield Inseis. This acquisition is in line with the company's growth strategy of expanding the seismic vessel fleet and optimizing utilization of vessel capacity within the exclusive contract and multi-client seismic market.

AIM Geophysical will continue to provide Gulf of Mexico multi-client services under its name but will actively integrate its experience and expertise into all aspects of the multiclient business unit of Wavefield Inseis.

David Wegner, President of AIM Geophysical, stated that "This transaction provides AIM with an extensive fleet of world-class vessels and highly experienced operations personnel, which will enable us to begin executing our multi-client strategy in the Gulf of Mexico in early 2007."