Geofizyka Torun and Input/Output Announce Sale of VectorSeis System Four.Energy Editors/Business Editors TORUN, Poland & HOUSTON--(BUSINESS WIRE)--June 2, 2003 Geofizyka Torun and Input/Output Inc. (NYSE NYSE See: New York Stock Exchange :IO) today announced the sale to Geofizyka Torun of an Input/Output 2,100 channel VectorSeis(R) System Four(TM) for land seismic acquisition. Mr. Stanislaw Zon, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Geofizyka Torun, comments, "We are pleased to acquire the new cable version of VectorSeis System Four. Input/Output's VectorSeis technology has already contributed to successfully finding recoverable reserves on the northeast border of the Wolsztyn ridge in Poland. VectorSeis imaging of PS waves from lower Zechstein limestone reefs brought new, essential information, and we achieved the survey objectives. The new cable system technology will allow us to continue to offer our customers impressive VectorSeis benefits, including better p-wave data, cost-effective multicomponent data and improved operational efficiency." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Bob Peebler, president and CEO of I/O (Input/Output) The transfer of data between the CPU and a peripheral device. Every transfer is an output from one device and an input to another. See PC input/output. I/O - Input/Output , "This sale of our recently commercialized cable version of VectorSeis System Four to Geofizyka Torun is a significant milestone in our efforts to bring the benefits of VectorSeis technology to the E&P market. This sale reinforces our strategy to expand international sales and increase our worldwide presence in emerging markets. VectorSeis digital technology enables the capture of essential full wavefield data for future exploration and exploitation." VectorSeis is the I/O technology platform for developing next-generation seismic acquisition systems for land, ocean bottom and downhole environments. The all-digital acquisition systems have been proven in 60 surveys acquired in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, Mexico, South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , Eastern Europe Eastern Europe The countries of eastern Europe, especially those that were allied with the USSR in the Warsaw Pact, which was established in 1955 and dissolved in 1991. , Russia and China. More than 400 million VectorSeis traces have been acquired in a wide variety of geographic and geologic settings. About Geofizyka Torun With the background of 36-year experience, Geofizyka Torun (GT) has a reputation for expertise in the utilization of 2D and 3D seismic technology. The Company delivers a wide range of integrated geophysical services to the oil and gas exploration industry around the world. Its core business activity involves integrated seismic data acquisition, data processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a and data interpretation as well as well logging Well logging, also known as borehole logging is the practice of making a detailed record (log) of the geologic formations penetrated by a borehole. The log may be based either on visual inspection of samples brought to the surface (geological and log analysis. Additional information is available at www.GTservices.pl. About Input/Output Input/Output Inc. is a major provider of seismic acquisition imaging technology for land, marine, transition zone exploration, production and reservoir monitoring. The company specializes in technology that creates value for the energy industry in the areas of 2D, 3D, 4D and multi-component seismic data. Additional information about VectorSeis technology is available at www.vectorseis.com. Additional information on Input/Output Inc. is available at www.i-o.com, or via email at info@i-o.com. The information included herein contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include statements concerning I/O's future product plans. Actual results may vary fundamentally from those described in these forward-looking statements. All forward-looking statements reflect numerous assumptions and involve a number of risks and uncertainties. These risks and uncertainties include the timing and development of I/O's products and services and market acceptance of I/O's new and revised product offerings. Additional risk factors which could affect actual results are disclosed by I/O from time to time in its filings with the Securities and Exchange Commission. |
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