December 25, 2014 4:56 AM ET

Energy Equipment and Services

Company Overview of Reservoir Exploration Technology ASA

Company Overview

Reservoir Exploration Technology ASA, a marine geophysical company, engages in multi-component seafloor seismic data acquisition. The multi-component seafloor seismic data solves various imaging challenges and targets oil recovery from existing fields. The company’s technology provides data for appraisal and development, as well as offers solution where towed streamers are impractical due to high density of platforms and/or shallow waters. It also offers solutions for subsurface resolution, acquisition in obstructed areas, 4D acquisition, converted shear wave acquisition for hydrocarbon identification, imaging through gas clouds using converted shear waves, sub-salt imaging, and azimuth surv...

Lysaker Torg 5 A

PO Box 104

Lysaker,  1325

Norway

Founded in 2002

130 Employees

Phone:

47 67 82 85 00

Fax:

47 67 82 85 01

Key Executives for Reservoir Exploration Technology ASA

Chief Executive Officer and Member of Audit Committee
Age: 48
President and General Manager
Age: 66
Chief Financial Officer
General Counsel and Member of Nomination Committee
Vice President of Human Resources
Age: 62
Compensation as of Fiscal Year 2014.

Reservoir Exploration Technology ASA Key Developments

Reservoir Exploration Technology To Be De Delisted From Oslo Bors

Oslo Bors has decided to delist the shares of Reservoir Exploration Technology ASA. The delisting of the shares is pursuant to Continuing Obligations section 15.1 (1) cf Stock Exchange Act section 25 (1). On this basis Oslo Bors has on 27 June 2013 made the following resolution: The shares in company will be delisted from Oslo Bors from 3 July 2013. The last day of listing will be on 2 July 2013.

Reservoir Exploration Technology ASA Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2013

Reservoir Exploration Technology ASA reported unaudited earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported EBITDA of $1,686,000, operating profit of $729,000, net result before tax of $1,375,000, net profit of $1,375,000 or $0.02 diluted per share on total revenue of $23,646,000 against LBITDA of $1,358,000, operating loss of $3,140,000, net loss before tax of $4,748,000, net loss of $4,775,000 or $0.05 diluted loss per share on total revenue of $16,206,000 for the same period a year ago. Net cash flow from operating activities was $2,464,000 against $2,970,000 for the same period a year ago.

Reservoir Exploration Technology ASA Announces Consolidated Earnings Results for the Year Ended December 31, 2012

Reservoir Exploration Technology ASA announced consolidated earnings results for the year ended December 31, 2012. For the full year, total revenue was $77,487,000, LBITDA was $7,805,000, operating loss was $27,463,000, net loss before tax was $41,673,000 and net loss of $41,431,000 or $0.47 per diluted share against total revenue of $75,421,000, LBITDA of $17,731,000, operating loss of $31,024,000, net loss before tax of $33,098,000 and net loss of $61,120,000 or $0.69 per diluted share for the same period a year ago. Net cash flow from in operating activities was $211,000 against net cash flow used in operating activities of $19,685,000 a year ago. Purchase of seismic equipment was $495,000 against $244,000 a year ago.

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