TGS Reaches 50% Acquisition Progress Mark on Gigante Seismic Program, Commences Gigante Coring Program in Mexico

TGS announced that it has acquired 93,000 kilometers (50%) of the 186,000 km 2D seismic project, Gigante. Gigante covers the entire offshore sector of Mexico and ties into TGS' regional 2D seismic grid covering the entire US Gulf of Mexico. Interpretation of preliminary data has identified a number of prospective play fairways within a variety of structural provinces. Delivery of fast track products is ongoing with over 57,000 kilometers presently available including areas covering the proposed bid rounds in the Campeche, Perdido and Mexican Ridges regions.

Acquisition of the Gigante multibeam data is 12% complete with preliminary results available. The resulting detailed seafloor bathymetry provides valuable information on the structural overprint of underlying geology and can identify seafloor hydrocarbon seeps. This is used to direct TGS' seafloor coring operations which commenced in January. The piston core samples will be analyzed to validate active petroleum systems and will be combined with TGS' other geoscience data as part of a comprehensive framework interpretation of the region.