VGS Seismic Canada Inc.

VGS Seismic Canada Inc.

March 30, 2007 09:00 ET

VGS Seismic Canada Inc. Announces Database Expansion in First Quarter

CALGARY, ALBERTA--(CCNMatthews - March 30, 2007) - VGS Seismic Canada Inc. ("VGS" or "the Company") (TSX VENTURE:VGS) is pleased to announce that in the first quarter of 2007 it has expanded its 3D seismic database by more than 600 square kilometres of data. This includes more than 150 square kilometres of new high fidelity 3D data acquired in the Company's core areas in Northeast British Columbia and in VGS's expansion areas in Southeast Alberta and Southeast Saskatchewan. This expansion is the result of newly created data and has been underwritten 66% by Canadian oil and gas exploration companies. This data is expected to be available for license in the third quarter of 2007.

The remaining 450 square kilometres of data is purchased, proprietary 3D data located mainly in the deep basin area of the Western Alberta Foothills. The database is also complemented by an additional 740 linear kilometres of purchased 2D seismic data. This data is available for license immediately.

Acquisition contracts have been signed which will result in continued data creation by VGS throughout the second and third quarters of 2007.

Based in Calgary, Alberta, VGS Seismic Canada Inc. identifies, creates and markets seismic data for licensing to oil and natural gas exploration companies. To date, the Company's growing data library is concentrated in British Columbia, Southern Alberta and Eastern Saskatchewan. VGS shares trade on the TSX Venture Exchange under the symbol VGS.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • VGS Seismic Canada Inc.
    Scott Milroy
    Chief Financial Officer
    (403) 263-6050
    VGS Seismic Canada Inc.
    Steven Vasey
    President and Chief Executive Officer
    (403) 263-6050