PanAmerican Geophysical Establishes New Multi-client Data Company

HOUSTON--(BUSINESS WIRE)--

PanAmerican Geophysical Company Limited, a North and South America focused seismic service company, has established a new company to offer multi-client seismic surveys.

The new company, PanAmerican GeoExchange, Inc., will concentrate on programs in the United States and is actively planning a number of surveys targeting hydrocarbon bearing shale plays.

PanAmerican GeoExchange, Inc. has appointed Tony Clark as its President and will be based in Houston, Texas. Tony has grown a number of successful seismic data library businesses in the United States over a 27-year career in the industry.

Tony, a graduate of MSU with a BBA in Marketing, began his career working for Geophysical Field Surveys then moving to Seismic Exchange, Inc. Having gained an impressive sales track record, he became a co-founder and partner in Seismic Assistants, Inc., which he grew to become a leading provider of multi-client 3D surveys in Texas. Following a successful sale of this business, Tony went on to build a portfolio of diversified business ventures outside of the oil service industry.

In 2007, Tony returned to the seismic industry, setting up a multi-client seismic data division for a midsized seismic company. Since then, and until leaving and joining PanAmerican, he has grown that business to have annual sales of over $125M and built a data library asset worth over $400M.

Tony serves on the board of the College of Business and Industry at Mississippi State University and has been awarded MSU's National Alumni Associations distinguished Service Award.

Mark Farine, Chief Executive Officer of PanAmerican Geophysical Company commented, “We are extremely pleased to have Tony join us to lead PanAmerican GeoExchange Inc. He has an unparalleled track record in growing multi-client seismic data businesses in The United States.

The establishment of PanAmerican GeoExchange, Inc. accelerates our plans to become a leading provider of geophysical data and services in key markets in North and South America. “

For more information please visit PanAmerican Geophysical at www.panamgeo.com

About PanAmerican Geophysical

With the recent merger and acquisition of CGL Compañia Geofísica Latinoamerica S.A.S. (CGL), GeoStrata Resources, Inc. and UGA Seismic, PanAmerican Geophysical is a leading full service geophysical seismic acquisition company specializing in land and well seismic services. PanAmerican Geophysical delivers engineering services, seismic technologies and product solutions for the seismic industry and oil and gas industry.