Glossary

2D Seismic: acoustic measuring technology which uses single vessel-towed hydrophone streamers. This technique generates a 2D cross-section of the deep seabed and is used primarily when initially reconnoitring for the presence of oil or gas reservoirs.

3D Seismic: accoustic measuring technology which uses multiple vessel-towed long hydrophone streamers. This technique generates a 3D model of the deep seabed and is used to locate and analyse oil and gas reservoirs.

3 DiQ (3D Integrated Quantitative): technology for the development of integrated (geology, geophysics, reservoir engineering) quantitative oil and gas reservoir models; these models are used to optimise the risks, costs and efficiency of oil and gas field development and production.

AM (asset management): a management system that ensures the efficient use of business equipment such as vessels, measuring equipment, etc.

Asset monitoring: tracking the location and usage of business equipment such as vessels, measuring equipment, etc.

AUV (Autonomous Underwater Vehicle): an unmanned submersible launched from a 'mother-vessel' but not connected to it via a cable. Propulsion and control are autonomous and use pre-defined mission protocols.

Construction Support: offshore services related to the installation and construction of structures such as pipelines, drilling platforms and other oil and gas related infrastructure, usually involving the use of ROVs.

D&P: Development & Production (of oil and gas fields).

DGPS (Differential Global Positioning System): a GPS based positioning system using territorial reference points to enhance accuracy.

DP (dynamic positioning): an automatic pilot which controls a vessel's engines and rudder, generally to ensure the vessel maintains station. Such systems require input from an accurate positioning system as a reference.

EM: electromagnetic.

FLI-MAP: a system that, with the help of a laser fan beam in a helicopter, generates accurate relief maps.

Geophysics: the mapping of subterranean soil characteristics using non-invasive techniques such as sound.

Geoscience: a range of scientific disciplines (geology, geophysics, petroleum engineering, bio stratification, geochemistry, etc.) related to the study of rocks, fossils and fluids.

Geotechnics: the determination of subterranean soil characteristics using invasive techniques such as probing, drilling and sampling.

GIS: Geographic Information System.

GNSS Global Navigation Satellite System: A collective term for GPS, the Russian GLONASS system and the future European Gallileo System.

GPS: Global Positioning System.

Gravity: Precision gravity measurements to detect anomalies that could indicate the presence of oil or gas.

HP (high-performance): decimetre positioning accuracy.

LiDAR: a measuring system based on laser technology that can make extremely accurate recordings from an aircraft.

Multiclient data: Data collected at own risk and expense and sold to several clients.

Omnistar: DGPS positioning system specifically for use onshore. This system differentiates itself through its compactness and ease of use.

Reservoir engineering: Techniques for predicting the production behaviour of oil and gas reservoirs and the optimisation of the eventual exploitation on the basis of a reservoir model, rock and fluid characteristics and flow models.

ROV (Remotely Operated Vehicle): Unmanned submersible launched from a vessel and equipped with measuring and manipulation equipment. A cable to the mother-vessel provides power, video and data communication.

Seastar-dp: DGPS positioning system, specifically for use on board DP vessels.

Seismic: Acoustic measurement of seabed characteristics and stratification with the objective of detecting oil and gas. These measurements are conducted using specialised vessels equipped with powerful acoustic energy sources and long receiving streamers (hydrophones) to measure 9sub) seabed acoustic echoes.

Skyfix: DGPS positioning system, see Starfix, but uses different underlying technology to achieve the high degree of accuracy.

Starfix: DGPS positioning system, specifically for use offshore. This system is intended for the professional user and, in addition to a high degree of accuracy, is equipped with a wide range of data analysis and quality control possibilities.

Survey Services: Services related to the measurement, management and mapping of locations, objects and operations, most of which involve a substantial navigation and positioning component.

UAV (Unmanned Airborne Vehicle): Unmanned autonomous mini-aircraft equipped with electromagnetic measuring equipment.

Debt (on 'Private Placement' covenants): Long-term loans including obligations arising from leasing agreements.

Dividend yield: Dividend as a percentage of the (average) share price.

Interest cover: Result from operating activities (EBIT) compared with the net interest charges.

Invested capital: The capital made available to the Company, i.e. Group equity plus the available loans and the balance of current account deposits/withdrawals.

Net profit margin: profit as a percentage of turnover.

Net revenue from own services (NROS): Revenue minus work contracted-out and other external costs.

Private placement: Long-term financing (10 - 15 years), entered into in May 2002 via a private placement with twenty American and two British institutional investors.

Return on invested capital: The profit (before profit appropriation) including third party interests and interest charges as a percentage of the average invested capital.

Solvency: Shareholders' equity as a percentage of the balance sheet total, whereby the subordinated convertible debenture bond is considered as equity.