Spectraseis Wins Swiss Economic Award 2009

3 juni 2009Corporate news announcement processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- -------------- Zurich, Switzerland, 3 June 2009. Spectraseis, the leading provider of low frequency passive seismic geophysical solutions to the upstream oil & gas industry, has been announced the winner of the Swiss Economic Award 2009 in the high-tech/biotech category. Now in its eleventh year, the Swiss Economic Award recognizes outstanding economic achievements and showcases innovative thinking among the business leadership of Switzerland with over 200 companies considered. The award confirms Spectraseis' significant growth and development since being established in 2003. Today, the company has 40 employees; offices in Zurich, Abu Dhabi and Houston; and leads the industry's biggest research program focused on Low Frequency geophysical data analysis to help oil and gas companies more efficiently find and produce hydrocarbon reserves. Spectraseis partners with some of the world's largest E&P companies and has carried out surveys in Europe, the Middle East, North Africa, South America and the United States. The President of the Jury and Nestlé board member Carolina Müller-Möhl commented: "Spectraseis is a very exciting young company and scored highest in its category for its outstanding business achievements. We are extremely pleased to present this year's award in high-tech/biotech to a management and team which we feel could serve as role models for other young Swiss SMEs." The published criteria for the award include innovativeness, technological advantage, marketing, job creation and success by creativity. Ross Newman CEO Spectraseis said: "While we are delighted to receive this prize for our team, we would like to thank all of our customers, partners and investors, both in the public and private sectors worldwide. It is their strong and ongoing support of our innovative business that has allowed us to advance so quickly." His comments were backed up by Martin Wagen, Executive Director at Spectraseis "As a company operating all over the globe, we are very happy to be recognized in the country where we were founded. We are very much looking forward to expanding the applications of our technology in close collaboration with our R&D partners in Switzerland and elsewhere." Spectraseis provides new data which improves oil & gas companies' understanding of the earth's subsurface, increasing their chances of success in finding and developing hydrocarbon reservoirs quickly and efficiently. Its LF seismic technology lowers exploration costs and the risks of dry wells, speeds up the decision-making process and reduces HSE (Health, Safety & the Environment) exposure through a light environmental footprint. With the current economic uncertainty, low oil prices and frozen capital markets, along with growing oil & gas reservoir complexity, there is a genuine need for new and innovative exploration technologies that can increase the success probability in discovering and understanding reservoirs, reduce exploration costs and shorten project execution time. The award was made at the Swiss Economic Forum in Thun, Switzerland, an annual event that draws around 1,200 business leaders as well as politicians and academics. The jury chose from three finalists in the high-tech/biotech category. Note to editors About the Swiss Economic Award The Swiss Economic Award program featured three award categories and drew around 200 applications throughout Switzerland. The two day event in Thun featured Sir Richard Branson (Virgin Group) as a top key note speaker. Main sponsors of the event include IBM, Swisscom and PriceWaterhouseCoopers. For more information and video coverage of the award winners see: http://www.swisseconomic.ch/index.cfm?sef=2,1066,17,42,61,1,0 About Spectraseis Established in 2003, Spectraseis is the principal technology and service provider in the fast-emerging field of low frequency passive seismic geophysical surveys and data analysis. Spectraseis helps oil and gas companies reduce risk and more efficiently find and produce hydrocarbon reserves by providing new subsurface information. In October 2007, Spectraseis won the 2007 World Oil Award for Best Exploration Technology. For further information, contact: Ross Newman, Chief Executive, Spectraseis AG Tel. +41 43 500 5828 or +41 78 697 5888 ross.newman@spectraseis.com Brice Bouffard, VP Sales & Marketing, Spectraseis AG Tel. +41 43 500 5849 Brice.Bouffard@spectraseis.com Paul Fisher, Axiom Communications Management Tel: +44 (0) 1285 713 776 pfisher@axiomcomms.com --- End of Message --- Spectraseis AG Giessereistrasse 5 Zurich Switzerland Listed: Main Market in SIX Swiss Exchange;