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Global Geophysical Services
GGS today announced that it has commenced an offer to
exchange $50,000,000 principal amount of 10½% Senior Notes due 2017, which are
registered under the Securities Act of 1933 (the "new notes"), for $50,000,000
principal amount of outstanding 10½% Senior Notes due 2017, which have not
been registered under the Securities Act of 1933 (the "old notes"). The terms
of the new notes to be issued are identical in all material respects to the
old notes, except that the new notes will have been registered under the
Securities Act of 1933, will not have any of the transfer restrictions,
registration rights and additional interest provisions relating to the old
notes and will bear a different CUSIP number from the old notes. Global will
not receive any proceeds from the exchange offer.
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