Wavefield Inseis has received a Letter of Cancellation from
StatoilHydro related to the previous announced 4 months contract to
acquire 3D seismic data in the North Sea for the 2009 season. The
frame agreement between StatoilHydro and Wavefield Inseis will
continue, which can be utilised, if exploration projects still will
be performed in 2009. According to contract a cancellation fee will
be paid by StatoilHydro.

As stated in separate press release, the need for high end capacity
3D vessels continue to be strong. In addition to the new contract
awarded by ExxonMobil, the M/V Geowave Master has entered into
another Letter of Intent with a mid size independent Oil Company for
additional 3D seismic work during the 2009 North Sea season.


For further information, contact:

Atle Jacobsen, CEO, Wavefield Inseis ASA
Tel: +47 56 11 48 00, Email: atle.jacobsen@wavefield-inseis.com

Erik Hokholt, CFO, Wavefield Inseis ASA
Tel: +47 67 82 84 00, Email: erik.hokholt@wavefield-inseis.com


About Wavefield Inseis ASA
Wavefield Inseis ASA is a Norwegian marine geophysical company
providing proprietary data acquisition services and offers a
portfolio of non-exclusive Multi Client data to the global
exploration community, developed in partnership with oil companies
and governments. Our range of products includes long offset 2D, high
capacity 3D, 4D, Multi-azimuth and Wide-azimuth data acquired with
highly specified vessels and the latest seismic equipment, including
our OPTOWAVE(TM) multi-component ocean bottom cable (4C OBC) system
for permanent seismic 4D monitoring that uses optical sensor
technology. We are also in the process of launching a new concept for
EM acquisition and data analysis. From our main offices in Bergen and
Oslo, Norway, and our other locations in London, Houston, Singapore
and Perth, Wavefield Inseis has a global reach, with activities world
wide.


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