Ocean Floor Geophysics

PGS has today completed sale of the hardware, software and intellectual property associated with the Company’s towed streamer Controlled Source Electro Magnetic (“CSEM”) system to Ocean Floor Geophysics, Inc (“OFG”). The towed-streamer CSEM technology is a state-of-the-art system, which allows for the acquisition of high-quality marine CSEM data in a …

PGS and Ocean Floor Geophysics, Inc (“OFG”) have today signed an agreement under which OFG has acquired the exclusive rights to use the hardware, software and intellectual property associated with the PGS towed streamer CSEM system. PGS receives shares in OFG as settlement for the transaction. The towed-streamer CSEM technology …