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DIGICON TO ACQUIRE SEISMIC VESSEL FROM MOBIL; TRANSACTION INCLUDES VESSEL PURCHASE AND OPERATING AGREEMENT

 DIGICON TO ACQUIRE SEISMIC VESSEL FROM MOBIL;
 TRANSACTION INCLUDES VESSEL PURCHASE AND OPERATING AGREEMENT
 HOUSTON, Sept. 15 /PRNewswire/ -- Digicon Inc. (AMEX: DGC) announced today that it has signed an agreement with Mobil Research & Development Corp. to operate and purchase the seismic vessel, M/V Mobil Search. Under the agreement, Digicon assumed operation of the vessel on Aug. 13, 1992. This interim operating period will continue on behalf of Mobil through mid-December, at which time the vessel purchase will be completed. Following Digicon's purchase, the vessel will be contracted to perform seismic services for Mobil and its affiliates over a two-year period. During this extended term contract, the vessel may also be utilized by Digicon on behalf of other oil companies when not performing surveys for Mobil.
 The M/V Mobil Search, which will be renamed following completion of the purchase, is a 299' x 51' research ship currently outfitted with dual seismic source and streamer capability. Digicon intends to further enhance the seismic recording capabilities of the vessel through a reconfiguration of the ship's working space and the installation of equipment to enable the simultaneous acquisition of up to nine seismic lines. The upgraded capability will feature Digicon's latest generation seismic streamer system, the DMS 2000, which has already completed extensive production testing. The most advanced navigational and positioning system available in the geophysical industry will be installed on the vessel, as well as sophisticated and flexible seismic source arrays and a complete suite of quality control systems to enhance real time monitoring of operations.
 Digicon provides seismic data acquisition and processing services on a worldwide basis to the petroleum industry. The company currently operates nine seismic survey ships, one land data acquisition crew and 12 data processing centers around the world. Digicon is a Houston-based company whose common stock is listed on the American Stock Exchange under the symbol "DGC".
 -0- 9/15/92
 /CONTACT: Larry E. Lenig Jr., or Allan C. Pogach of Digicon Inc., 713-526-5611, or 1-800-DIGICON/
 (DGC) CO: Digicon Inc. ST: Texas IN: OIL SU: TNM


SH -- NY015 -- 9472 09/15/92 09:00 EDT
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Publication:PR Newswire
Date:Sep 15, 1992
Words:349
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