Reservoir Exploration Technology ASA ("RXT") initiates strategic review

9/4/2012 2:53 AM EST

As reported on 17 August 2012, RXT has been in a 
process to engage financial advisors to assist the 
company in evaluating measures to improve its 
financial situation. Consequently, RXT has today 
engaged ABG Sundal Collier Norge ASA ("ABG Sundal 
Collier") and Pareto Securities AS ("Pareto 
Securities") to act as joint financial advisors to 
conduct a review of the strategic options available 
to RXT. The strategic review is part of RXT's ongoing 
strategy to fully exploit the commercial 
opportunities created by our technology.

For further information, please contact:
Stein Hedemark, CEO
Cell: + 47 918 26 369

Tomas Bratterud, CFO
Cell: + 47 958 09 846

About RXT: Reservoir Exploration Technology ASA 
(RXT)is the only marine geophysical company 
specializing in multi component seismic seafloor 
acquisition.   

Multi-component seismic solves several imaging   
challenges that cannot be resolved with towed   
streamer seismic, and targets improved oil recovery  
from existing fields. The technology also gives   
better data quality for appraisal and development,   
and is also the solution where towed streamers are   
impractical due to high density of platforms and/or  
shallow waters. RXT has offices in Oslo, Norway in   
Abu Dhabi, UAE and Houston, Texas. In addition RXT 
is represented in Brazil with Geo RXT, a joint venture
between RXT and Brazilian Georadar Levantamentos   
Geofisicos S/A (Georadar) where RXT owns 45% and   
Georadar 55%. RXT is listed on the stock exchange 
in Norway (OSE ticker: RXT).