Correction of Section Commenting on Outlook in Today's Q2-2009
Earnings Release
(Thomson Reuters ONE) - TGS has noticed an error in the 2009 proprietary contract revenueexpectations in the Outlook section of the Earnings Release for Q22009 issued this morning.The last paragraph of that section should read:TGS management's expectations for the full year 2009 remain unchangedas follows: multi-client library investments of USD 230-270 million,average pre-funding in the range of 45-55% of investments, an averageannualized multi-client amortization rate in the range of 35-40% ofnet revenues, net revenues in the range of USD 470-530 million, andproprietary contract revenues in the range of 5-10% of total netrevenues. The Company will continue to evaluate opportunities toincrease multi-client investments and grow its market share duringthe year based on client interest and other economic indicators.The information on outlook in the TGS Q2 slide presentation iscorrect as originally submitted.The corrected Earnings Release is posted on the TGS websitewww.tgsnopec.com. TGS apologizes for this oversight.TGS-NOPEC Geophysical Company (TGS) is a principal resource forglobal geoscientific data products and services in the E&P industry.TGS specializes in the design, acquisition and processing ofmulti-client seismic surveys worldwide and delivers advanced highperformance seismic imaging and software solutions. The Company alsoprovides the world's largest online well-log database, well datamanagement services, multi-client interpretive products andsubsurface consulting services to industry. The suite of integratedexploration data products available from TGS is distinctive andunmatched. The Company philosophy is to create unique high-qualitydata collected in the right place at the right time.All statements in this press release other than statements ofhistorical fact are forward-looking statements, which are subject toa number of risks, uncertainties and assumptions that are difficultto predict, and are based upon assumptions as to future events thatmay not prove accurate. These factors include TGS' reliance on acyclical industry and principal customers, TGS' ability to continueto expand markets for licensing of data, and TGS' ability to acquireand process data product at costs commensurate with profitability.Actual results may differ materially from those expected or projectedin the forward-looking statements. TGS undertakes no responsibilityor obligation to update or alter forward-looking statements for anyreason.TGS-NOPEC Geophysical Company ASA is listed on the Oslo StockExchange (OSLO:TGS).This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 06.08.2009 - 15:33 Uhr
Sprache: Deutsch
News-ID 4436
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Earnings Release"
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