Spectraseis Signs Strategic Partnership with Saudi Makamin

Zurich, Switzerland, March 9, 2009. Spectraseis, the leading provider
of low frequency passive seismic geophysical solutions to the
upstream oil & gas industry, today announced that it has entered into
a long-term, strategic partnership with Saudi Makamin Company, the
Al-Khobar, Saudi Arabia-based oilfield services group.

Under the agreement, Spectraseis and Makamin are forming a joint new
venture based in Dhahran, Saudi Arabia to market and deliver low
frequency geophysical solutions in the Middle East. Makamin has also
become an owner of Spectraseis, alongside the company's major
shareholders Warburg Pincus and StatoilHydro Ventures. The deal was
presented to the Saudi Consul General in Geneva, Nabil M. Al Saleh,
on February 16, 2009.

Spectraseis Chairman, Bjarte Fageras, said:

"We are pleased to welcome Saudi Makamin Co. as an important
shareholder in Spectraseis. Makamin's strong ties in the Gulf, local
operating infrastructure and deep financial resources will benefit
Spectraseis and its customers in the region tremendously."

Makamin Managing Director, Dr. Ali Al Buridi, said:

"Makamin is pleased to be partnering with Spectraseis to bring new
services to oil & gas producers in the Gulf region and to be
investing in valuable technology development. It is through
investment in research and development and application of advanced
technology in operations that the challenges of serving the global
oil & gas market will continue be met in the future. We believe that
our joint venture with Spectraseis will bring significant value to
operators in the Gulf."

Spectraseis CEO, Ross Newman, said:

"This is an exciting partnership for Spectraseis. Our joint venture
with Makamin will allow Spectraseis to better deliver services to oil
& gas companies in the Middle East, where there is tremendous
potential for low frequency passive seismic technologies. Our goal is
to help our clients improve their understanding of hydrocarbon
reservoirs and increase the efficiency of their huge investments in
finding and developing new reserves."

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.

Established in 2008, Makamin is a Saudi oilfield services group
which, backed by $320 million of capital, is a building a portfolio
of new technology and service offerings for regional operators in the
Gulf, including exploration technology, drilling services, advanced
production systems, well services and integrated project management.

Note to editors

About Spectraseis

Spectraseis is the principal technology and service provider in the
fast-emerging field of low frequency passive seismic geophysical
surveys to help oil and gas companies more efficiently find and
produce hydrocarbon reserves.

Zurich, Switzerland-based Spectraseis researches and applies
proprietary technologies to acquire and analyze low frequency (<10
Hz) seismic background waves continuously present in the Earth's
subsurface in order to identify spectral attributes indicating the
likely presence or absence of hydrocarbons and other characteristics
of subsurface reservoirs within a survey area. The resulting
information can greatly reduce the risk and improve the success rate
of costly oil exploration and drilling activities and improve
decision-making throughout the life of a field. Broad adoption of the
company's technology by the global oil and gas exploration and
production industry can be expected to save billions of dollars each
year which is currently expended on non-productive exploration
surveys and dry wells, as well as significantly improve the
industry's environmental performance.

For more information, please visit www.spectraseis.com

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About Makamin

Saudi Makamin Company is an oilfield services company headquartered
in Al-Khobar, Kingdom of Saudi Arabia. Makamin's mission is to be a
premiere oil & gas services provider to the local and international
markets as well as investing in new technology, conducting R&D and
developing local talent while maximizing the welfare of its
shareholders. The company was capitalized in 2008 with 1.2 billion
Saudi Riyals (US$ 320 million) and is privately owned by investors in
Saudi Arabia and the Gulf region.

For more information, please visit www.saudimakamin.com

All product and company names herein may be trademarks of their
respective owners.

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

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