Wavefield, StatoilHydro Ink LOI for North Sea Operations

Wavefield Inseis ASA has received a Letter of Intent from StatoilHydro to award a full season of work in the
North Sea next year to the Geowave Master.

The work will include a number of projects offshore Norway that will require up to 10 streamers. This will be the fourth season in a row that Wavefield Inseis will have worked for StatoilHydro in the North Sea.

Wavefield Inseis CEO Atle Jacobsen said, "StatoilHydro awarded us our first ever 3D in 2006 and we very much
appreciate their continued business. 2009 will be the fourth year in succession, and the Geowave Master will be the 3rd vessel of ours that will have worked for them. We look forward to this new opportunity to deliver an excellent service and many more years of cooperation."