Update on strategic review

2/4/2013 2:42 AM EST

Reference is made to the stock exchange notification 
dated 11 January 2013. RXT has entered into an 
agreement with ION Geophysical Corporation regarding 
sale of its 30 % ownership in GeoRXT B.V. The 
transaction is made in line with the plan 
communicated in the presentation attached to said 
notification, and includes a cash consideration and 
the right to use all equipment delivered and financed 
by ION in 2012 for all existing contracts for work in 
the North Sea until 30 June 2013 without any further 
payments from RXT.

 

A detailed stock exchange announcement will be made 
in accordance with section 3.4 of the continuing 
obligations of stock exchange listed companies.



For further information, please contact 

CEO Stein Hedemark in RXT, Cell:  + 47 918 26 369 or 

CFO Tomas Bratterud,

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.  RXT is listed on 
the stock exchange in Norway (OSE ticker: RXT). 

URL: http://www.rxt.com/