RXT Signs LOI for Seismic Work in Norway

The multi-component seismic company, Reservoir Exploration Technology ASA (RXT), has signed a letter of intent for a contract in Norway. The contract value will be approximately USD $21 million and the survey duration is estimated to last for 3 months.

The survey will be acquired with RXT's operation RXT4, and is scheduled to commence in Q3 of 2008. RXT4 comprises the Vikland, which is scheduled to be delivered from the yard in July 2008.