At the Extraordinary General Meetings of TGS-NOPEC Geophysical Company ASA ("TGS") and Wavefield Inseis ASA ("Wavefield Inseis") 20 September 2007, the merger plan entered into between the two companies' boards of directors 20 August 2007 was approved.

The Extraordinary General Meetings of TGS and Wavefield Inseis have elected Anders Farestveit and Arne K. Mæland, respectively, to act as an observer on the Board of Directors of each company until completion of the merger.

In accordance with the merger plan, the Extraordinary General Meeting of TGS-NOPEC Geophysical Company ASA also elected a new board of directors and resolved various amendments to the company's articles of association, both resolutions to take effect from the date of completion of the merger.

Subject to completion of the merger, the Board of Directors was also granted an authority to acquire own shares on behalf of the company, provided that the total nominal value of own shares shall not exceed 10% of the company's share capital, and an authority to increase the share capital by up to NOK 3,950,000.