SOURCE: 4D Seimic Inc

June 12, 2006 14:07 ET

4D Seismic (FDSM) Awarded Contract for Humble Oil Field

HOUSTON, TX -- (MARKET WIRE) -- June 12, 2006 -- 4D Seismic, Inc. (PINKSHEETS: FDSM) has been awarded a contract to develop 4D seismic data for Clayton Ivy in Houston's Historic Humble Oil field.

The Humble Oil fields are still active and have produced over 138,835,590 barrels of oil. Humble Oil started in these fields, changing its name to Exxon in a mid 1960s restructuring, and merging with Mobil in 1998 to form ExxonMobil (XOM).

4D Seismic's agreement with Clayton Ivy calls for the company to reinterpret seismic data and adapt it to a 4D format for evaluating and determining possible undetected reservoirs in the Humble Oil field. Data migration should be completed within twelve months.

Clayton Ivy, Inc. is the mineral owner of over 100 acres in the Humble Oil field with 23 oil wells. 4D Seismic will be compensated by a fee for service and a participation in any discoveries. With fee income from this project, 4D Seismic will exceed its revenue and net income projections for fiscal 2006 by 40%.

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:
    Donald J. Najvar
    Sr. Vice President
    Investor Relations 4D Seismic
    Phone: 281-980-2354