CGGVeritas announced that it is joining forces with the Petroleum Agency SA to promote South Africa's 2007 offshore licensing round.


Details of the acreage, opportunities and terms and conditions will be provided at launch seminars scheduled for Johannesburg (15 March), London (26 March) and Houston (29 March). Information will also be available at the AAPG APPEX conference in London (20-22 March) and AAPG International Pavilion in Long Beach, Calif., (1-4 April). A data room is now available at the Petroleum Agency SA offices in Parow, Cape Town, and further data rooms will be held in London and Houston. The closing date for receipt of bid applications is 31 July 2007.


Jim Gulland, CGGVeritas Business Development Manager, EAME Data Library, said, "This is a


tremendous opportunity for the exploration community to gain access to such prospective acreage. We are extremely pleased to participate in the promotion of an important yet under-explored region."


The acreage on offer includes areas prospective for gas as well as oil in the shallow water northern Orange Basin, the Proximal Bredasdorp Basin, the deepwater and shelf areas of the southern Orange Basin, and the offshore Algoa Basin. Commenting on the prospectivity of this acreage, Steve Toothill, CGGVeritas chief geologist for the region, said, "The areas on offer represent a rare opportunity in today's highly competitive exploration environment to access acreage within and adjacent to proven hydrocarbon basins, each with a range of play types and the potential for significant accumulations."


Access to full details of the license round, downloadable maps and road show itinerary are available at http://www.cggveritas.com/default.aspx?cid=15-59-296 and www.petroleumagencysa.com

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