Offshore staff

OSLO, Norway --Reservoir Exploration Technology ASA and Input/Output Inc. have extended RXT's exclusive right to purchase I/O's VectorSeis Ocean ocean bottom cable seismic system. The agreement runs through 2011.

RXT is committed to purchasing $160 million in equipment over the duration of the agreement, plus pay a royalty equal to 2.1% of VSO revenues.

RXT has three VSO systems plus one on order.

"RXT's further commitment to the VSO system signifies the E&P industry's
increasing acceptance of full-wave imaging from the seabed and the system's ability to both image complex reservoirs and operate in challenging
environments," says Bob Peebbler, president and CEO of I/O.

"The VSO system has consistently shown the ability to acquire higher quality data than has previously been possible," says Mike Scott CEO of RXT. "This data quality, coupled with the VSO's buoy technology and RXT's efficient operational techniques, are allowing us to deliver on our stated goal of providing high-quality marine OBC data, at a competitive price, to our oil & gas customers."

5/8/2007