Wavefield Inseis ASA

Wavefield Inseis ASA (OSL:WAVE) Wavefield Inseis ASA announced today that it has been awarded the 2009 Ringhorne/Balder/Forseti Seismic Program offshore Norway by ExxonMobil Exploration and Production Norway AS.

Wavefield Inseis ASA (OSL:WAVE) Statement by the board of directors of Wavefield Inseis regarding voluntary offer made by CGG Veritas is enclosed.

Wavefield Inseis ASA (OSL:WAVE) Oslo, Norway, November 24 2008. Three M AS, fully-owned by Atle Jacobsen CEO of Wavefield Inseis ASA, purchased 50,000 shares in Wavefield Inseis on Monday November 24 at an average price of NOK 11.74 per share. After the transaction, Atle Jacobsen holds 624,167, including indirect ownership through fully owned limited company, shares in the company.

Wavefield Inseis ASA (OSL:WAVE) We have been informed of the intention of Compagnie Générale de Géophysique-Veritas ("CGV") to make a voluntary public offer to acquire all shares in Wavefield Inseis ASA (the "Offer") against a consideration of one (1) share in CGV for each seven (7) shares of Wavefield Inseis ASA ("Wavefield Inseis" or the "Company) tendered to the Offer (the "Offer Consideration"). Completion of the Offer is inter alia subject to (or waiver from CGV no later than the settlement date of the Offer) customary conditions, including:

Wavefield Inseis ASA (OSL:WAVE) TGS and Wavefield have today agreed to settle the dispute related to the merger process between the two companies. Under terms of the settlement, Wavefield will pay USD 12.5 million to TGS and TGS will charter a 2D vessel from Wavefield at favourable rates for an 18 month period beginning in April 2009. TGS will also have the option to hire up to 24 months of "un-contracted" 3D vessel capacity from Wavefield over the next four years at favourable rates, securing Wavefield engagement for vessel capacity. The arbitration process already in progress will be stopped and all claims either party have against the other party, its shareholders, board members, employees or advisors are waived.

Wavefield Inseis ASA (OSL:WAVE) Oslo, Norway, 6 November 2008. Peter Allan Hooper of Wavefield Inseis ASA purchased 85 000 shares in Wavefield Inseis on Thursday 6 November at a price of 11.50 NOK per share. After the transaction Peter Allan Hooper holds 331 333 shares in the company.

Wavefield Inseis ASA (OSL:WAVE) The National Oil Company of Turkey, TPAO, have awarded Wavefield Inseis a major 3D project offshore Turkey in the Black Sea.

Wavefield Inseis ASA (OSL:WAVE) The Geowave Endeavour acquired 4,911 sail kilometers during the month of October while working offshore Libya for BP. Towing a configuration of 10 x 8,000 meter long streamers at 100 meter separation, this translates to 2,456 square kilometers. This is believed to be a new production record for any seismic vessel and confirms that Wavefield Inseis operates one of the most efficient seismic fleets in the world.

Wavefield Inseis ASA (OSL:WAVE) The Geowave Endeavour acquired 4,911 sail kilometers during the month of October while working offshore Libya for BP. Towing a configuration of 10 x 8,000 meter long streamers at 100 meter separation, this translates to 2,456 square kilometers. This is believed to be a new production record for any seismic vessel and confirms that Wavefield Inseis operates one of the most efficient seismic fleets in the world.

Wavefield Inseis ASA (OSL:WAVE) Oslo, Norway, 28 October 2008. Nina Midtlie of Wavefield Inseis ASA, purchased 12,000 shares in Wavefield Inseis on Tuesday 28 October at a price of NOK 7,41 per share. After the transaction Nina Midtlie holds 12010 shares in the company.