SOURCE: 4D Seismic, Inc.

October 30, 2006 10:57 ET

4D Seismic (FDSM) to Launch Offshore Division

HOUSTON, TX -- (MARKET WIRE) -- October 30, 2006 -- 4D Seismic, Inc. (PINKSHEETS: FDSM) announced today it is entering the offshore seismic arena.

4D has secured a lease in Freeport, Texas to launch its Gulf of Mexico operations. The two-story office building sits on 4.75 acres located at 936 E. Floodgate, just north of the Intercoastal waterway. The facility was previously used by Offshore Oil Services, Inc. to supply offshore drilling platform and run crew boats. The property has approximately 600 feet of frontage on the Brazos River with 14 feet of depth at the concrete bulkhead shoreline.

4D plans to utilize the facility primarily to capture and analyze fields off the shores of Texas and Louisiana, but is seeking an opportunity to work with China if they pursue drilling sites off of Key West, Florida in Cuban waters. The Cuban field is widely believed to be rich in hydrocarbon but has been off limits to U.S. companies due to sanctions. The entrée of China may create a situation where 4D can become active with the fields without contravening U.S. law.

Forward-Looking Statements

This release may contain statements that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current estimates and projections about 4D Seismic business, which are derived in part on assumptions of its management, and are not guarantees of future performance, as such performance is difficult to predict. Actual outcomes and results may differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Such factors include, but are not limited to, the Company's ability to execute effectively its business plan, changes in the petroleum market, changes in market activity, the development of new products and services, the enhancement of existing products and services, competitive pressures (including price competition), system failures, economic and political conditions, changes in consumer behavior and the introduction of competing products having technological and/or other advantages. The Company assumes no obligation to update information concerning its expectations.

Contact Information

  • Contact:
    R. H. Laws
    Investor Relations 4D Seismic
    Phone: 206-222-2430
    Email Contact