TGS-NOPEC

TGS-NOPEC (OSL:TGS) Asker, 9. November 2008. TGS and Wavefield have today agreed to settle the dispute related to the merger process between the two companies. Under terms of the settlement, Wavefield will pay USD 12.5 million to TGS and TGS will charter a 2D vessel from Wavefield at favorable rates for an 18 month period beginning in April 2009. TGS will also have the option to hire up to 24 months of un-contracted 3D vessel capacity from Wavefield over the next four years at favorable rates, securing Wavefield engagement for vessel capacity. The arbitration process already in progress will be stopped and all claims either party have against the other party, its shareholders, board members, employees or advisors are waived.

TGS-NOPEC (OSL:TGS) TGS has noticed that the numbers in the section in the Earnings Release for Q3 2008 issued this morning commenting on EBIT and EBITDA for Q3 2008 relate to our previously issued Q2-2008 report.

TGS-NOPEC (OSL:TGS) Please find attached the TGS Q3 -2008 Presentation slides from the recorded webcast at www.tgsnopec.no today, Thursday 30. October 2008.

TGS-NOPEC (OSL:TGS) 3rd QUARTER HIGHLIGHTS * Gross sales volume was 89% higher than in Q3 2007. * Consolidated net revenues were USD 170.8 million, an increase of 70% compared to Q3 2007. * Net late sales from the multi-client library totaled USD 97.4 million, up 71% from USD 57.0 million in Q3 2007. * Net pre-funding revenues were USD 36.0 million, funding 45% of the Company's operational investments into new multi-client products during Q3 (USD 80.6 million). * Proprietary contract and other revenues during the quarter totaled USD 37.4 million compared to USD 18.0 million in Q3 2007. * Operating profit (EBIT), after expensed merger costs of USD 3.2 million, was USD 75.8 million (44% of Net Revenues), up 67% from USD 45.3 million in Q3 2007. * Cash flow from operations after taxes but before investments was USD 61.2 million, versus USD 78.8 million in Q3 2007. * Unrealized losses on fin ...

TGS-NOPEC (OSL:TGS) Reference is made to yesterday's release stating that the teleconference on Thursday October 30th will be at 16.00 CET. Due to the change from daylight saving time in Europe prior to that, the call will be at 15.00 CET.

TGS-NOPEC (OSL:TGS) Webcast TGS-NOPEC will publish its Q3 2008 results at 08,00 Norwegian time on the morning of October 30th, 2008. At the same time, a recorded presentation with Audio by CEO Hank Hamilton, COO Robert Hobbs and CFO Arne Helland will be made available at www.tgsnopec.no.

TGS-NOPEC (OSL:TGS) Asker, Norway, (7 October 2008) - TGS-NOPEC Geophysical Company (TGS) today announced that it has commenced the acquisition of approximately 9,000 square kilometers of multi-client 3D seismic data located offshore Liberia. Additional planned phases could increase the size of the program significantly by the end of 2009. This substantial program covers a number of blocks recently awarded by the National Oil Company of Liberia ("NOCAL") and has achieved a high level of pre-funding. The first phase of acquisition commenced in September. A second vessel will be added in November for the second phase and will continue through most of 2009.

TGS-NOPEC (OSL:TGS) TGS has now received the next pleading and the writ related to the counterclaim from Wavefield in the arbitration process between the two companies. Wavefield is claiming damages limited upwards to NOK 150 millions (approximately USD 26.5 million) plus interest and costs. In the pleading, Wavefield reserves a right to increase the claim.The claim is for alleged losses related to lost business opportunities and direct costs in connection with the merger. TGS and its lawyers reject the claim for compensation as being without legal reasons.

TGS-NOPEC (OSL:TGS) Asker, 22. September, 2008. In preparation for the upcoming arbitration hearings with Wavefield, TGS has elected to narrow its claim for damages from $460 - $830 million as previously presented to the arbitration court to $488 - $510 million. The claim is duly substantiated by detailed calculations presented to the Arbitration Panel. Consequently, TGS has lowered the upper limit for its claim to $550 million, down from the $700 million originally presented in the writ.

TGS-NOPEC (OSL:TGS) Asker, Norway (9 September 2008) - TGS-NOPEC Geophysical Company ASA (TGS) announced today that it has signed a mutually binding letter of intent to enter into a contract with Bergen Oilfield Services AS (BOS) for the recently converted M/V BOS Arctic 3D seismic vessel. The contract begins in November 2008 and lasts for a minimum period of 12 months with an option for TGS to contract one of BOS's 3D vessels for another 12 month period under the same commercial terms. The BOS Arctic has already successfully completed two projects since her launch in June 2008.