Spectraseis Appoints Vassil Bliznakov Chief Financial Officer

Spectraseis, the leading provider of low frequency geophysical solutions to the upstream oil & gas industry, today announced that it has appointed Vassil Bliznakov as Chief Financial Officer.

Bliznakov brings over ten years of financial experience in the oil & gas industry to his new role and will be tasked with further developing Spectraseis' financial and operational controls and managing expansion, as Spectraseis continues its rapid growth. In November 2007, Spectraseis secured a CHF 36 million (US$ 32.2 million) investment from Warburg Pincus, the global private equity firm and a leading energy investor.

Bliznakov comes to Spectraseis from global oilfield and information services company Schlumberger, where he was Controller for the company's business in Continental Europe and part of a management team responsible for US$400 million of business, 22 legal entities in 32 countries, and 1100 employees.

Spectraseis CEO, Ross Newman, commented on the appointment: "This is another excellent appointment for Spectraseis as we continue to consolidate our position as a major industry player in providing the next generation of geophysical information. Vasill's familiarity with the changing dynamics of the oil and gas industry and his years of experience in all the financial aspects necessary to support Spectraseis' continued growth and expansion will make him a powerful addition to the management team."

Prior to his Continental Europe role, Bliznakov worked as Schlumberger's South Russia Regional Controller based in Nefteyugansk, and Corporate Internal Auditor based in Paris, where he conducted four acquisition audits. Bliznakov, who is a Bulgarian national, is a graduate of the HEC (Hautes Etudes Commerciales) in Paris.