GGS-Spectrum Appoints New CEO

GGS-Spectrum, the global provider of advanced seismic data processing and multi-client surveys has appointed Knut Oversjoen to the position of Chief Executive Officer.

Mr. Oversjoen has previously worked in Norway as Executive Vice President for Finance and M&A at Umoe ASA, as Chief Executive Officer at Kverneland ASA and as Chief Financial Officer at Petroleum Geo Services ASA and Hafslund ASA.

Commenting on the new appointment, Morten Garman, Chairman of GGS-Spectrum Board of Directors says:

"We are delighted to be working with Mr. Oversjoen. He brings a wealth of senior experience to GGS-Spectrum, and we look forward to his leadership as GGSSpectrum continues to expand and develop our portfolio of seismic services around the world."

Mr. Oversjoen will be based at the company's Oslo offices, and the appointment is effective as of August 6, 2007. The Board of Directors has subsequently terminated its engagement with former CEO Eddie Berglund.