Services/Suppliers

Nov. 16, 2009

CGGVeritas,

Paris, has named Jean-Georges Malcor CEO effective July 1, 2010. In connection with the appointment, CGGVeritas will separate the chairman and CEO functions on that date. Current Chairman and CEO Robert Brunck will continue his role as chairman as of July 1. Malcor, currently senior vice-president at electronics company Thales, Neuilly-sur-Seine, France, will join CGGVeritas on Jan. 1. Meanwhile, CGGVeritas has appointed Thierry Le Roux, a member of the company's executive committee, advisor to Brunck and Malcor. Beginning his career in underwater activities with Thales, Malcor moved up the organization through a variety of managerial positions, including director roles with several subsidiaries of Thomson-CSF, predecessor to Thales. He is a graduate of Ecole Centrale de Paris and holds an MS from Stanford University and a PhD from Ecole des Mines.

CGGVeritas is a leading international pure-play geophysical company delivering a wide range of technologies, services, and equipment (through Sercel) to the global oil and gas industry.

ION Geophysical Corp.,

Houston, has signed a term agreement with BGP Inc., Beijing, to create a joint venture to provide land seismic products worldwide. ION will received $175 million in cash, and BGP will receive a 51% stake in the JV and a 16.66% interest in ION. The deal is subject to regulatory reviews and approvals in the US and China, expected to be completed by the first quarter of 2010.

ION is a leading provider of geophysical technology, services, and solutions for the global oil and gas industry.

BGP is the world's largest land seismic contractor, currently operating 110 seismic crews around the world.

Capstone Turbine Corp.,

Chatsworth, Calif., has received follow-on orders from two oil and gas industry clients totaling $3 million for microturbine energy systems. One is for 42 C30 systems to be installed for a large coalbed methane exploration and production project in Australia. That follows an order for >100 such systems, the first of which was installed last year for that project. The second order, from a large North American interstate gas transmission pipeline company, was for one C1000 and one C600 microturbine system in remote locations. This is a follow-on order to the first two C600s sold for use in the oil and gas industry in July 2009. Both recent orders are scheduled for shipment before March 31, 2010.

Capstone is a leading manufacturer of microturbine energy systems.

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