Chairman of the Board Resigns from Reservoir Exploration Technology (Norway)


Thomas Bates jr. has recently sent in his resignation as chairman of the board of RXT. With effect from today’s date, Kristen Jakobsen will act as chairman of the board. The company wishes to thank Thomas Bates jr. for the outstanding work he has done for RXT over the years, for his competence and for the way in which he always sought to take account of the interests of all stakeholders.

RXT fully recognizes his contribution since joining the board of RXT on 9 December 2008 following Lime Rock Partners V. L.P’s investment in the company. RXT has highly benefited from his depth of knowledge and experience as chairman. The board of RXT will summon an extraordinary general meeting to elect an additional board member and a new chairman of the board as soon as the nomination committee has found suitable candidates.

About RXT

Reservoir Exploration Technology ASA (RXT) is the only marine geophysical company specializing in multi component seismic seafloor acquisition. Multi-component seismic solves several imaging challenges that cannot be resolved with towed streamer seismic, and targets improved oil recovery from existing fields. The technology also gives better data quality for appraisal and development, and is also the solution where towed streamers are impractical due to high density of platforms and/or shallow waters. The Company has offices in Oslo, Norway in Rio de Janeiro, Brazil and Houston, Texas.


Source:RXT, February  22, 2011;

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