Press Release: 10 September 2009
CosmoSeis PLC. (FRANKFURT:5RC)
CosmoSeis is pleased to announce that it has recently successfully completed and delivered the project to RAK Petroleum (RAK). The project required processing of 220 seismic lines.
CosmoSeis’s executive manager of business development Mr. M. Tahir Rafique states that “due to the nature of high quality results that Cosmoseis has delivered to RAK Petroleum, we are confident in expecting a lot of business coming from RAK in the upcoming future.”
About CosmoSeis PLC
We are an oil-services sector, engaged in seismic processing of petroleum fields on behalf of major international energy companies. Our services are recognized as cutting-edge through our collaboration with the above research center and with the largest supercomputer facility in the Gulf.
We utilize state-of-the art proprietary seismic technology, coupled with powerful analysis-software and experienced oil geologists to locate new high-potential wells and to regenerate and enhance abandoned or low-producing oilfields. Our business model is fully in conformity with the current urgency in the turbulent oil industry in seeking out the least-costly, most efficient means in discovering and recovering hydrocarbon potential.
About RAK Petroleum
RAK, a Public Limited Company (PLC.) formed in 2005 in the Free Trade Zone of Ras Al Khaimah in the UAE. The Company has been funded by an initial capital of AED 3 billion (US $820 million), raised by private placement. RAK has interests in and operates concessions in the Sultanate of Oman and the United Arab Emirate of Ras Al Khaimah. Inspired by the vision of His Highness Sheikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, RAK has a solid foundation, resolute political patronage, access to tremendous financial resources and is strategically situated in the heart of the world’s most prolific oil and gas provinces.
CosmoSeis PLC., Website: www.cosmoseis.com
Note: There are forward-looking statements in this release. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company’s products, increased levels of competition for the Company, new products and technological changes, the Company’s dependence on third-party suppliers, and other risks detailed from time to time in the Company’s periodic reports filed with the Frankfurt Exchange