OSLO, Norway, Apr 8, 2008 - (ABN Newswire) - The vessel M/V SCAN Stigandi has been converted to a 3D seismic acquisition vessel at the Irving Shipyard in Halifax in Canada. With reference to the stock exchange notice of 20 February 2008, the vessel was expected to be delivered to the vessel owner on 15 March 2008.

Neptune Offshore AS, who supervises the upgrade on behalf of the owner Neptune Seismic AS, has informed that the owner has taken delivery of work completed on 31 March 2008 when the vessel was out of dock.

SCAN is further informed that unexpected damages to the main gear and the shaft generator have occurred. Complete overhauls need to be done, whilst completing other work onboard the vessel. Once the vessel has completed marine trials, the vessel will undergo final testing of the seismic systems before being ready for seismic operations.

As a consequence, the commencement of seismic contractual mobilization is expected to be the end of May, which is one month later than previous expectation.

SCAN Geophysical ASA was established in 2002 as an international seismic data acquisition company specializing in both marine streamer seismic and ocean bottom seismic. The company is currently operating one 2D and one 3D streamer vessel, and will soon launch one 2002-built 3D vessel and three newbuild state-of-the-art 10 streamer 3D vessels during 2008/09. Administration is located in Oslo, with representatives in Caracas, Houston and Singapore. SCAN Geophysical ASA is listed on Oslo Stock Exchange's Oslo Axess under ticker code SCANG, on website http://www.osloaxess.no.

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For more information, please contact: Lars Johan Frigstad, CEO of SCAN Geophysical ASA Telephone: +47 24 11 10 00 E-mail: scangeo@scangeo.com Or visit our website: http://www.scangeo.com



LINK: http://hugin.info/138683/R/1207321/248731.pdf

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SCAN Geophysical ASA

http://www.scangeo.com

ISIN: NO0010325103

Stock Identifier: OSE.SCANG