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Olympic Seismic Ltd. Announces Company Name Change to Seitel Canada Ltd.

January 23, 2014

CALGARY --(BUSINESS WIRE)-- Olympic Seismic Ltd. is pleased to announce that we have changed our name to Seitel Canada Ltd. The new name will reflect Seitel's cross-border position as the owner of the largest onshore data library in North America . The change is effective immediately. "As our clients increase their cross-border activities, Seitel has taken this opportunity to strengthen our company name which will showcase the unified expansion of our seismic data library throughout North America . We remain committed to investing in seismic acquisition in the Canadian market and adding quality data to our land library," said Seitel CEO, Rob Monson . The Seitel brand has long been recognized as a seismic industry leader and will continue to share the same management, principles, and business model just as Seitel and Olympic Seismic have for the past 16 years. The name change communicates our commitment to cohesive integration of best practices throughout Seitel, including HSSE and SD, data processing, acquisition, technology, and outstanding customer service. Olympic Seismic Ltd. was incorporated in Alberta in 1997 as a Canadian subsidiary of Seitel, Inc. which is headquartered in Houston, Texas . Since that time, Olympic Seismic has earned the reputation as an industry leader in acquiring seismic data in the Horn River Basin , Montney , Cardium and Duvernay resource plays. Our sales and marketing team, data processing expertise, web based technologies, and data management system ensures accurate and timely delivery from our state of the art technology center. "The heart and soul of our Calgary presence - our culture, people, and quality - remain the same. In reality, nothing has changed except the name we call ourselves. Itís a privilege to provide our products and services to Canadian clients and trust that we have earned their continued confidence and loyalty. It's a new year, we have a new name, and we look forward to working with new and existing clients for many years to come," commented David Richard , President, Seitel Canada Ltd. ABOUT SEITEL Seitel is a leading provider of onshore seismic data to the oil and gas industry in North America . Seitel's data products and services are critical for the exploration for and development of oil and gas reserves by oil and gas companies. Seitel has ownership in an extensive library of proprietary onshore and offshore seismic data that it has accumulated since 1982 and that it licenses to a wide range of oil and gas companies. Seitel believes that its library of 3D onshore seismic data is the largest available for licensing in North America and includes leading positions in oil and liquids-rich unconventional plays. Seitel has ownership in over 39,000 square miles of 3D onshore data, over 10,000 square miles of 3D offshore data and approximately 1.1 million linear miles of 2D seismic data concentrated in the major active North American oil and gas producing regions. Seitel serves a market which includes over 1,600 companies in the oil and gas industry. Photos/Multimedia Gallery Available: Seitel David Richard , 403.515.2800 or Marcia Kendrick , 713.881.8900 Source: Seitel Canada

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Source: Business Wire

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