Wavefield Enters US$37 Million Loan Agreement with TGS

Wavefield Inseis has entered into a loan agreement in the amount of US$37.5 million with TGS Nopec Geophysical Company as an interim financing in conjunction with the purchase of the new 10 streamer 3D vessel as notified to the Oslo Stock Exchange on October 17, 2007.

The loan carries interest equal to TGS's funding costs.