Wavefield votes to drop TGS-Nopec merger plan

Wavefield Inseis ASA shareholders have voted "to prevent the completion of the merger" with TGS-Nopec Geophysical Co. ASA and to "seek a termination of the merger."

Offshore staff

OSLO, Norway –Wavefield Inseis ASA shareholders have voted "to prevent the completion of the merger" with TGS-Nopec Geophysical Co. ASA and to "seek a termination of the merger."

At issue is an assertion by Wavefield that TGS rejected a call for review of the merger terms following TGS report of a revenue shortfall in early 4Q 2007.

01/11/2008

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