CGGVeritas Takes Stake in OHM
CGGVeritas (NYSE: CGV), subsequent to the approval by the shareholders of Offshore Hydrocarbon Mapping plc ("OHM"), has acquired 6 395 571 shares of OHM at a price of 240 pence per share, representing 15 per cent of OHM's issued share capital.
On July 17, 2007, CGGVeritas and OHM entered into a strategic operating alliance under which both companies will jointly develop the global market for Controlled Source Electromagnetic imaging ("CSEM") and capitalize on the integration opportunities between seismic and CSEM.
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