Eastern Echo orders two seismic boats

Offshore staff

DUBAI –Eastern Echo has signed shipbuilding contracts with Dubai Drydocks, and design and equipment contracts with Ulstein Design AS for two 12-streamer seismic vessels.

Both vessels are the same Ulstein SX 124 (X-Bow) design as the previously announced shipbuilding contracts in Spain for four new builds.

At the same time, Schlumberger BV has completed its due diligence and will complete its voluntary share acquisition offer to Eastern Echo shareholders. Schlumberger says it plans to acquire all Eastern Echo shares and to apply for delisting of the company from the Oslo Axess.

12/10/2007