SMT Announces Global Software Agreement with India's Oil and Natural Gas Corporation

HOUSTON, Texas and NEW DELHI, India - Monday, January 12, 2009

SMT announced today that it has signed a new software agreement with India’s Oil and Natural Gas Corporation (ONGC).  This agreement will significantly enhance ONGC’s subsurface analysis capabilities by complementing their existing geological and geophysical technology with SMT’s full suite of KINGDOM software.

"ONGC decided to purchase SMT’s KINGDOM software not only because it is easy to use, but also because of its ability to co-exist with the legacy software we are currently using. This agreement will provide high-end geoscience to our highly distributed interpreters, while still providing the portability of Windows™ based computing," said Dinesh Kumar Pande, Director Exploration, ONGC (India).

The purchase of KINGDOM comes at a time when ONGC is rapidly increasing its focus on oil and gas exploration. ONGC has established 6.60 billion tons of in-place hydrocarbon reserves with more than 350 discoveries of oil and gas. Ultimate Reserves for in-place hydrocarbons in domestic acreages are 2.36 Billion Metric tons of Oil and Oil Equivalent Gas. In addition, ONGC is increasingly entering into relationships with foreign NOCs for joint exploration via ONGC Videsh Limited (OVL), a wholly owned subsidiary of the Company. OVL, which runs KINGDOM software, has projects spread out across Vietnam, Russia, Sudan, Iraq, Iran, Libya, Myanmar, Syria, Qatar, Egypt, Cuba, Nigeria Sao Tome Principe, Brazil, Nigeria and Columbia.

These ONGC operations will help India, with rapidly increasing demand for fuel but historically limited hydrocarbon supplies, become more energy independent.  In addition, SMT KINGDOM’s ability to bring advanced geoscience capabilities to analyze a wide variety of basin types will help ONGC scientists make better exploration decisions.

"SMT is very pleased to expand our strategic relationship with ONGC," said Arshad Matin, President and CEO, SMT.  "ONGC’s decision to commit to a multi-year agreement for SMT software and services demonstrates that KINGDOM is an excellent fit for large, international National Oil Companies.”

As a result of this agreement, SMT will offer a complete solution for ONGC including training 200 geoscientists on both interpretation best practices and KINGDOM software in six Indian cities.  The flexibility of Windows™-based KINGDOM will enable those geoscientists working in remote offices to manage advanced interpretations using Windows™ workstations – or even from their laptops.  SMT will offer a total solution to ONGC, which will also include mentoring and services.

Historically, ONGC geoscientists have largely relied on UNIX-based platforms to perform their interpretation workflows.  With the rise of high performance Windows™ based geoscientific capabilities, ONGC can now provide ubiquitous access to seismic software.  With SMT and its use of advanced PC performance capabilities like multi-threading, 64-bit processing and the Graphical Process Unit, ONGC will provide its geoscientists widespread adoption of interpretation software – without sacrificing their high-end performance needs.

The Suvira Group (www.suvira.com) is the local business partner for SMT in cementing their relationship with ONGC.  The Suvira Group is a project management, marketing and sales organization with a presence in the US and offices in all the major hubs in India.

About ONGC

Oil and Natural Gas Corporation Limited (ONGC) (incorporated on June 23, 1993) is an Indian public sector petroleum company.  It is a Fortune Global 500 company ranked 335th, and contributes 79% of India's crude oil production and 81% of India's natural gas production.  It is the highest profit-making corporation in India.  It was set up as a commission on August 14, 1956.  Indian government holds 74.14% equity stake in this company.  ONGC is engaged in exploration and production activities.  It is involved in exploring for hydrocarbons in 26 sedimentary basins of India.  It produces about 30% of India's crude oil requirement.  It owns and operates more than 15,000 kilometers of internal pipelines in India.

About SMT

Seismic Micro-Technology, Inc. (SMT) is the global industry leader for Windows-based geophysical and geological interpretation software. Since 1984, SMT has offered geoscience software technology to the upstream exploration and production (E&P) industry. SMT is committed to providing software with broad functionality that is logical to learn and to use, is truly integrated, and is flexible in its operation. SMT was the first company to develop geoscience interpretation tools for Windows NT and continues to lead the industry in PC-based exploration and reservoir management software. The company’s software is widely accepted by geologists, geophysicists and reservoir engineers in over 85 countries. SMT has offices in Houston, Singapore, Croydon (UK), Calgary (Canada) and Moscow (Russia). For additional information, visitwww.seismicmicro.com

For press inquiries contact:

PR@seismicmicro.com