DOLPHIN TO ACQUIRE SEISMIC PROCESSING SOFTWARE COMPANY

Dolphin Group ASA are pleased to announce that through their subsidiary Dolphin Geophysical Inc.(US) have purchased the entire stock of Open Geophysical Inc. (OGI) for a total of USD 5.25 million plus net cash. The payment will be paid on an earn-out basis, based on criteria to be met.

OGI develop and sell seismic processing software and has an existing client base including both major oil companies and seismic contractors.  The software is purpose built for modern computer architectures and has an industry leading graphical user interface. It thus provides users with an efficient, cost effective and easy to use seismic processing platform.
 
The new developed software is already being used on the Polar Duchess for real time Quality Control of acquired data with impressive performance and in Dolphin's new processing centre established in London.

All Dolphin vessels will be upgraded to the OGI software over the coming months.  It will be used for on-board fast track, proprietary processing on the Duchess in the near future and to produce a high-end, fast track product on all future multi-client projects.

R. Gareth Williams, Chief Geophysicist of Dolphin said; "We are extremely excited to be investing in OGI and to be using the Open CPS software for both our on-board and onshore, marine processing package. This is a major step towards developing our processing and multi-client services and hence capturing the full value chain in those businesses.  We carefully reviewed all the available software platforms and this is a rare opportunity to work with a system designed completely in the 21st century. In addition, we see significant opportunities to support and grow the existing software sales business of OGI and are fully committed to supporting their current customers."

Roland Gunther and Eric Foley, co-founders of OGI stated;  " Working with Dolphin will provide us with the opportunity and financial strength to increase the pace of development of our software and to benefit from working closely with an experienced team. We look forward to providing increased levels of support and technology to our current and future customers who are working with both land and marine seismic data. We expect OGI to benefit from the increased global exposure for the software via Dolphin's multi-client and proprietary projects"   


This information is subject of the disclosure requirements according to section 5-12 of the Norwegian Securities Trading Act. For further information, please contact:
Atle Jacobsen, CEO
Mobile:+47 97 71 53 36
E-mail:atle.jacobsen@dolphingeo.com

Erik Hokholt, CFO
Mobile:+47 90 75 60 64
E-mail:erik.hokholt@dolphingeo.com

Dolphin Group ASA
Helsfyr Atrium
Innspurten 15
0663 OSLO

Phone:+47 23 16 70 00
Fax: + 47 23 16 71 80         
www.dolphingroup.no  ,www.dolphingeo.com

Dolphin Group ASA has two main business areas; Dolphin Geophysical AS and Dolphin Interconnect Solutions AS. Dolphin Geophysical is a global full-range, asset light supplier of marine geophysical services and operates a fleet of new generation, high capacity seismic vessels and offers contract seismic surveys and multi-client projects worldwide. Dolphin Interconnect is a global supplier of high performance solutions (hardware- and software) for the server and embedded systems market. Dolphin Group ASA is listed at Oslo Stock Exchange (OSE ticker: DOLP).Open Geophysical, Inc. develops next generation seismic processing software called OpenCPS. OGI's customers choose OpenCPS for its leading visualization, interactive processing capabilities, and geophysical algorithms. www.opengeophysical.com