Spectraseis Announces Joint Industry Project (JIP) for Low Frequency Seismic Research

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Zurich, Switzerland, October 24, 2009. Spectraseis, a leading
provider of low frequency seismic solutions to the upstream oil & gas
industry, today announced the formation of a multi-year Joint
Industry Project (JIP) for the research and development of low
frequency seismic technologies for hydrocarbon reservoir detection
and characterization. This cooperative program is called the Low
Frequency Seismic Partnership (LFSP).

Confirmed participants in the LFSP, which will run for three years
through 2012 are Cairn, Chevron, ExxonMobil, GDF Suez and Pemex. An
Asian national oil company will join the LFSP over the coming months.

The scope of the LFSP program will cover key application elements of
low frequency seismic technology, such as data acquisition and
processing, as well as fundamental theoretical studies, in
partnership with researchers at Spectraseis, the Swiss Federal
Institute of Technology (ETH) in Zurich and the University of Bern,
Switzerland. Participants will be at the leading edge of the latest
research on low frequency seismic applications and will learn how to
extract the maximum value from this technology for their companies.

Spectraseis CTO, Rob Habiger, said:

"We are very excited to be launching this industry collaboration
today which will expand the body of core research around this
important topic. We are looking forward to working with an
outstanding group of international operators. The experience and
technical expertise they bring will help us to continue our strong
focus on the application of low frequency seismic solutions to meet
important industry challenges."

Established in 2003, Spectraseis is the principal technology and
service provider in the fast-emerging field of low frequency 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. In 2009 Spectraseis received the annual Swiss
Economic Award in the category high-tech/biotech.

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

For further information, contact:

Brice Bouffard, VP Marketing, Spectraseis AG
Tel. +41 43 500 5849 or +41 78 907 0549
brice.bouffard@spectraseis.com

Robert (Rob) Habiger, Chief Technical Officer, Spectraseis AG
Tel. +41 43 500 5827
rob.habiger@spectraseis.com

Paul Fisher, Axiom Communications Management
Tel: +44 (0) 1285 713 776
pfisher@axiomcomms.com

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Spectraseis AG
Giessereistrasse 5 Zurich Switzerland

Listed: Main
Market in SIX Swiss Exchange;
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