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Petroleum Geo-Services ASA ADR
Ticker Symbol: PGEJF CUSIP: 716599105 Exchange: OTOTC
Company's Online Profile
BUSINESS: Petroleum Geo-Services is a technologically focused oilfield service company covering the complete value chain from exploration, via field development to production. PGS operates in two primary business areas - seismic and production - through four operating units: Marine Geophysical, Onshore Geophysical, Production, and Pertra. In addition, our Reservoir business unit provides reservoir expertise and allows us to exploit synergies across the product lines. The PGS group employs approximately 3,400 people and has offices and operations in more than 20 countries worldwide. Our revenues for 2003 were approximately 1.1 billion USD.
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Notes: June 27, 2007, OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) has previously announced that it intends to delist its American Depositary Shares (ADSs) voluntarily from the New York Stock Exchange ("NYSE") and to terminate its registration and reporting obligations under Sections 12(g) and 15(d) of the Securities Exchange Act of 1934. The delisting and deregistration would not become effective prior to the Company's extraordinary dividend, expected to be paid on or about July 10, 2007, that was approved by the Company's shareholders at the annual general meeting held on June 15.
PGS has not arranged for listing of its ADSs or the underlying ordinary shares on any other U.S. national exchange. However, PGS currently intends to keep its American Depositary Receipt ("ADR") program in place, which is maintained with Citibank. Each ADR represents one ordinary share of the Company. Holders of ADRs may at any time surrender their ADRs under the Deposit Agreement and receive ordinary shares represented by such ADRs upon payment of any applicable fees, taxes or other charges. Delivery of such shares will be made through Verdipapirsentralen ("VPS"), the Norwegian centralized registry of securities.
After the delisting from the NYSE, the Company's ADSs are expected to be quoted, subject to the interest of market makers, on the Pink Sheets. Pink Sheets is a centralized quotation service that collects and publishes market maker quotes for over-the-counter securities in real time. More information about the Pink Sheets can be found at www.pinksheets.com. Investors should be aware that trading in PGS' ADSs through market makers and quotation on the Pink Sheets may involve risk, such as trades not being executed as quickly as when the ADSs were listed on the NYSE.
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Previous Ticker Symbol: PGS Changed: 7/10/2007
ADR with an ADR ratio of 1:1
Large Cap Stock -
Market Value $1.2 Billion
Click for current PGEJF price quote from the PINK SHEETS
Click for current PGEJF price quote from the NASDAQ
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Foreign Address and Phone Numbers |
| Address: PGS House, Strandveien 4, N-1366 Lysaker, Norway |
| Main Phone Number |
+47-67-52-64-00 |
| Fax Number |
+47-67-53-68-83 |
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Inv Rel Phone Number
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+47-67-52-64-00 |
| Address and Phone Numbers |
| U.S. Representative |
PGS, Inc. |
| Address: 738 Highway 6 South, Suite 1000, Houston, TX 77079 |
| Main Phone Number |
281-589-7935 |
| Fax Number |
281-589-1482 |
| Investor Relations
Suzanne McLeod
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281-589-7935
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Toll Free Phone Number |
Unknown |
| CEO - Svein Rennemo |
CFO - Gottfred Langseth |
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