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GEODYNAMICS CORP. ANNOUNCES A STRATEGIC INVESTMENT IN LCT

 TORRANCE, Calif., Dec. 8 /PRNewswire/ -- Geodynamics Corp. (NASDAQ-NMS: GDYN) announced a strategic investment in LaFehr and Chan Technologies (LCT) Inc. of Houston. LCT is a privately held oil service technology company specializing in gravity and magnetics survey data acquisition, processing and interpretation for oil and gas exploration companies on a worldwide basis. The investment and strategic alliance with LCT is a key element of Geodynamics' diversification strategy of expanding into rapidly growing commercial markets which emphasize remote sensing, image processing and geographic information systems. Under the investment agreement Geodynamics will make available a long-term line of credit to LCT and is granted an option to acquire a majority interest in LCT.
 The investment permits LCT to increase market share in Marine and airborne gravity surveys and provides working capital for further expansion. LCT has recently negotiated an exclusive contract to perform airborne gravity surveys in the People's Republic of China.
 Geodynamics President Robert L. Paulson explained, "We have a great deal of respect for Dr. LaFehr and LCT, and this provides Geodynmaics an opportunity to apply our remote sensing experience and diversify from our traditional military and intelligence business base. We will provide financing to LCT, in addition to transferring technology and expertise in the airborne gravity project. We don't expect to see any changes in the way LCT is operated."
 Dr. Tom LaFehr, president of LCT, stated, "Geodynmaics brings us financial support and technology to help LCT meet its anticipated growth. We have come to know and respect Geodynamics' management through our work with them on the airborne gravity project and look forward to an expanded cooperative effort. Their support aids us in strengthening our current efforts, provides flexibility to take advantage of the many exciting opportunities available to us, and insures a strong continuation of LCT's technology development."
 -0- 12/8/93
 /CONTACT: Joanne M. Dunlap of Geodynamics, 310-781-3612; or John Bain of LCT, 713-558-8383/
 (GDYN)


CO: Geodynamics Corp.; LaFehr and Chan Technologies Inc. ST: California, Texas IN: OIL SU:

JL-NY -- LA011 -- 1596 12/08/93 08:02 EST
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Publication:PR Newswire
Date:Dec 8, 1993
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