TGS NOPEC Says No Basis for Merger Delay
With respect to the agreed and approved merger with Wavefield-Inseis and inlight of yesterday's Wavefield-Inseis EGM:
TGS-NOPEC stands by its previous public statements concerning its position. Namely, there is no legal basis for a delay in the merger, TGS is not in a position to consider a revision to the terms of the existing agreement, TGS believes that the PWC report covers all relevant issues hence TGS-NOPEC will not consider another third-party investigation into its third quarter revenues.
TGS-NOPEC is reviewing its full range of legal alternatives and its rights under Norwegian law.
- TGS Expects E&P Spend to Dip by up to 10% in 2017 (Oct 28)
- Schlumberger, TGS Begin 300-Block Gulf of Mexico Data Acquisition Program (Aug 04)
- PGS: Improving Sentiment in Offshore Seismic Market (Jul 21)
Company: Wavefield Inseis AS more info
- CGGVeritas Sets the Date for Acquisition of Wavefield Inseis (Feb 04)
- CGGVeritas' Settlement for Wavefield's Shares Expected to Close Tomorrow (Feb 03)
- CGGVeritas Closes Mandatory Offer for All Wavefield Shares (Jan 28)