Geotrace opens a new Reservoir Services Centre in Cairo

LONDON, UK – December 17, 2003 - Geotrace has announced the opening of its Reservoir Services / Reservoir Seismic Centre in Cairo, Egypt. The centre was officially opened on December 9th, 2003 by the Minister of Investment and the Chairman of General Authority of Investment and Free Zones (G.A.F.I.) Dr. Mohamed El Ghamrawy, in the presence of Mr. Mohamed Abd El Rahim, the First Under Secretary of State, Head of Free Zones Sector, and Mr. Saeed Zakaria Sallam, the Under Secretary of State, Nasr City Public Free Zone.

Located in Nasr City and housed in a modern 1,200 square metre building, the new centre will offer the full range of Geotrace's seismic data processing and reservoir services technology to clients in Egypt and the neighbouring countries. Geotrace has been extremely pleased with the responsiveness of both the Investment Authority and EGPC in assisting the company with its Egyptian registration.

In Reservoir Seismic, Geotrace uses the company's proprietary ANSER software, supplemented by industry-recognised third party tools where appropriate. Services encompass the processing of 2D, 3D and 4D Timelapse™ for land, transition zone and marine seismic data in both the time and depth domains. The Company is highly responsive to regional processing issues and is committed to research and development to resolve client’s problems

In Reservoir Services, Geotrace has developed a number of advanced imaging techniques which are used to enhance data and improve structural and stratigraphic interpretation. One of its best-known techniques, High Frequency Imaging (HFI™), allows for the recovery of much broader bandwidth signal from existing seismic data than was previously thought possible. This proprietary tool is used to image thin sands, small faults, secondary carbonate porosity and pinchouts. As well as a higher-confidence interpretation, the enhanced frequencies lead to significantly-improved inversion techniques with MaxRes. Other reservoir services provide pore pressure prediction, log editing, RockRes and Fluid factor.

Geotrace Oil Exploration Services (Egypt) is part of the Geotrace Technologies group of companies and is a leading provider of proprietary technologies aimed at imaging and integrated solutions used to enhance the optimization of petroleum reservoirs. It serves the worldwide petroleum industry.