Document:

EX-4.19

 

Exhibit 4.19

November 15, 2005

Compagnie Générale de Géophysique

Rights Offering

Underwriting Agreement

 

 

BNP PARIBAS

CREDIT SUISSE FIRST BOSTON (EUROPE) LIMITED

RBC Capital Markets Corporation

(collectively, the “Managers”)

c/o BNP Paribas

16 boulevard des Italiens

75009 Paris

France

Credit Suisse First Boston (Europe) Limited (“CSFB”)

One Cabot Square

London, England E14 4QJ

Ladies and Gentlemen:

     Compagnie Générale de Géophysique (the “Company”), a société anonyme incorporated under the
laws of France and registered at the Evry Commercial Registry under Number B 969 202 241
(69B00224), proposes, subject to the terms and conditions stated herein, to increase its share
capital by issuing new shares by attributing preferential subscription rights (the “Subscription
Rights”, which term includes any rights attributed to the shares issued to holders of stock options
upon exercise thereof or upon conversion of the Convertible Bonds (as defined herein) prior to the
date of suspension specified in the Note d’Opération (as defined herein)) to its shareholders,
permitting the holders of the Subscription Rights to subscribe for up to 4,327,776 newly issued
ordinary shares (the “New Shares”) of the Company (the offer of the New Shares is referred to
herein as the “Offering”). The Managers named above have severally agreed to procure subscribers
for the New Shares not subscribed by rights holders, failing which to subscribe for the New Shares
themselves, in each case on the terms and subject to the conditions set forth herein.

     In accordance with the delegation of powers granted to it by the extraordinary general meeting
of shareholders on May 12, 2005, the Company’s Board of Directors at its meeting of November 14,
2005 delegated to the Chairman and Chief Executive Officer all powers necessary to conduct the
Offering and determine its terms. On November 15, 2005, the Chairman and Chief Executive Officer
determined the terms of and decided to proceed with the Offering.

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     Subscription for New Shares is reserved in priority for owners of existing shares, by virtue
of their preferential subscription rights guaranteed to them by law, as well as assignees of such
rights, who may subscribe as of right (à titre irréductible) for 6 New Share(s) for every 19
Subscription Rights. The New Shares that are not subscribed on this basis will be distributed and
allotted to persons holding Subscription Rights and wishing to subscribe for additional New Shares
(à titre réductible) up to the number requested, or if insufficient New Shares are available, pro
rata to their Subscription Rights. The subscription period will begin on November 21, 2005 and
close on December 2, 2005 (the “Subscription Period”). The Subscription Rights will be tradable
during the Subscription Period and such Subscription Rights will be separated (détachés) from the
shares on November 21, 2005 and traded separately on Eurolist by Euronext Paris (“Eurolist”) on the
same day and until the end of the Subscription Period.

     The New Shares will be the subject of an application for listing on Eurolist to take effect on
December 16, 2005. The New Shares will be listed on Eurolist on the same line as the existing
shares.

     The New Shares will be offered in a public offering in France and in and outside France in an
international offering to institutional investors. The Subscription Rights and the New Shares have
not been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”).
Accordingly, the procedures implemented in connection with the Subscription Rights provide that
they may only be exercised: (i) in the United States, upon certification that the subscriber is a
qualified institutional buyer (as defined in Rule 144A under the Securities Act), pursuant to the
exemption from registration under Section 4(2) under the Securities Act, and (ii) in offshore
transactions in reliance on Regulation S under the Securities Act (“Regulation S”). The same
procedures will apply to the offer and sale by the Managers of any New Shares subscribed by them
pursuant to this Agreement.

     In connection with the offer, issue and sale of the New Shares, the Company has prepared an
offering circular dated November 15, 2005 (as amended or supplemented, including the material
incorporated by reference therein, the “Offering Circular”) and a French prospectus dated November
15, 2005 (as amended or supplemented, the “Prospectus”, and together with the Offering Circular,
the “Offering Documents”). The Offering Circular incorporates by reference, among other documents,
Amendment No.2 (“Amendment No.2”) to the Company’s annual report on Form 20-F (the “Form 20-F”) for
the year ended December 31, 2004, filed with the Securities and Exchange Commission (the “SEC”) on
October 31, 2005 and the Company’s reports on Form 6-K furnished to the SEC and identified as
incorporated by reference in the Offering Circular. The Prospectus, which was granted visa number
05-764 from the Autorité des marchés financiers (the “AMF”), consists of the Company’s Document de
Référence registered with the AMF on April 18, 2005 under number D.05-0475, as updated on November
15, 2005 under number D. D.05-0475-A01 (the “Document de Référence”), and the Company’s Note
d’Opération dated November 15, 2005 (the “Note d’Opération”). A legal notice about the Offering
will be published in the Bulletin des annonces légales obligatoires (“BALO”) on November 18, 2005.

     The Company hereby agrees with the several Managers as follows:

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1. Representations, Warranties and Agreements of the Company. The Company represents and warrants
to, and agrees with, the several Managers that as of the date of this Agreement and the Closing
Date (as defined in Section 3(c) below):

     (a) The Offering Circular, as of its date and as of the Closing Date, and the Prospectus as of
its date and as of the Closing Date, did not and, as applicable, will not include any untrue
statement of a material fact or omit to state any material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading.
The preceding sentence does not apply to statements in or omissions from the Offering Documents
made in reliance upon and in conformity with written information furnished to the Company by the
Managers specifically for use therein, it being understood and agreed that the only such
information furnished by the Managers consists of the following information in the Offering
Documents: the table entitled “Manager” under the caption “Plan of Distribution” in the Offering
Circular.

     (b) On the date the Prospectus received the visa from the AMF, the Prospectus conformed in all
material respects to the requirements set forth by applicable French law or AMF regulations. In
connection with the update to the Document de Référence and the visa of the AMF on the Prospectus,
the statutory auditors of the Company have provided to the Company, with a copy to the AMF, letters
(lettres de fin de travaux) as contemplated by Article 212-15 of the Règlement général of the AMF
that do not contain any reservations, qualifications or observations other than as reflected in the
statements (attestations) of the Chairman and Chief Executive Officer of the Company included in
the update to the Document de Référence under Section 1.2 and the Prospectus under Section 1
“Responsable du prospectus"; copies of such letters are attached as Exhibit 1(b) hereto;
such letters have not been amended, supplemented or superseded. The press releases issued by the
Company with respect to the launch of the Offering and the pricing of the Offering conformed in all
material respects to the requirements set forth by applicable French law or AMF regulations. The
Form 20-F complies in all material respects as to form with the requirements of the Securities Act
and the rules and regulations thereunder.

     (c) The Company has been duly incorporated, is validly existing as a société anonyme under the
laws of France, with full power and authority (corporate and other) to own and lease its properties
and conduct its business as described in the Offering Documents; and the Company is lawfully
qualified to do business in all other jurisdictions in which its ownership or leasing of property
or the conduct of its business requires such qualification, except where the failure to be so
qualified would not, individually or in the aggregate, have a material adverse effect on the
condition (financial or otherwise), business, prospects or results of operations of the Company and
its subsidiaries taken as a whole (“Material Adverse Effect”).

     (d) Each subsidiary of the Company set forth on Schedule 2 hereto has been duly organized and
is validly existing under the laws of the jurisdiction of its organization, with full power and
authority (corporate and other) to own and lease its property and conduct its business as described
in the Offering Documents; and each subsidiary of the Company is lawfully qualified to do business
in all other jurisdictions in

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which its ownership or leasing of property or the conduct of its business requires such
qualification except where the failure to be so qualified would not, individually or in the
aggregate, have a Material Adverse Effect; all of the issued and outstanding capital stock of the
Company and each subsidiary of the Company has been duly and validly authorized and issued under
the laws of the jurisdiction of its incorporation and is fully paid and, if applicable,
non-assessable; and except as set forth in Schedule 2 hereto, the capital stock of each subsidiary
of the Company is owned, directly or through subsidiaries, by the Company, free and clear of all
liens, encumbrances and defects, except as disclosed in the Offering Documents; there are no
outstanding securities convertible into or exchangeable for, or warrants, rights or options to
purchase from the Company, or obligations of the Company to issue, common stock or any other class
of capital stock of the Company, except as disclosed in the Offering Documents.

     (e) The Company has the power and authority (corporate and other) to enter into this Agreement
and any documents entered into in connection herewith, in each case to which it is a party.

     (f) The New Shares have been duly and validly authorized by the Company and, when issued
against payment therefor and when the depositary certificate required by Article L. 225-146 of the
French Commercial Code is issued as provided herein, will be duly and validly issued and fully
paid.

     (g) All dividends and other distributions declared and payable on the shares of capital stock
of the Company in Euro may under the current laws and regulations of France be converted into
foreign currency that may be freely transferred out of France without the necessity of obtaining
any Governmental Authorization (as defined below) in France.

     (h) Neither the Company nor any of its subsidiaries is a party to any contract, agreement or
understanding with any person that would give rise to a valid claim against the Managers for a
brokerage commission, finder’s fee or like payment in connection with the Offering, other than the
fees payable to the Managers in connection with the Offering.

     (i) No consent, approval, authorization, or order of, or filing with, any Governmental Agency
(as defined below) (each, a “Governmental Authorization”) is required for the consummation of the
transactions contemplated by this Agreement in connection with the Offering, except, in each case,
such as have been or, prior to the Closing Date, will be obtained, and except as may be required
under US state securities or “Blue Sky” laws.

     (j) None of the Company or any subsidiary of the Company is (i) in violation of its respective
articles of association, charter, by-laws or other constitutive documents, (ii) in default, and no
event has occurred which, with notice or lapse of time or both, would constitute a default, in the
due performance or observance of any term, covenant or condition contained in any indenture,
mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which it is a
party or by which it is bound or to which any of its property or assets is subject except for such
default or event

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which would not, individually or in the aggregate, have a Material Adverse Effect or (iii) in
violation of any law, ordinance, governmental rule, regulation or court decree to which it or its
property or assets may be subject, except for such violation which would not, individually or in
the aggregate, have a Material Adverse Effect.

     (k) No stamp or other issuance or transfer taxes or duties (other than fixed rate duty and
timbres de dimension, the non-payment of which does not affect the validity of this Agreement) are
payable to or in France or any political subdivision or taxing authority thereof or therein by or
on behalf of the Managers in connection with the sale and delivery by the Company of the New Shares
to or for the respective accounts of the Managers or the sale and delivery by such Managers of the
New Shares to the initial purchasers thereof (provided that no deed evidencing the sale of the
Shares is executed in France), or the consummation of any transaction contemplated by this
Agreement in connection with the issuance, sale and delivery of the New Shares, and generally no
capital gains, income or withholding taxes are payable in France by the Managers who are non-French
residents for French tax purposes and who are not acting through a permanent establishment or
representative located in France in connection with the sale and delivery by such Managers of the
New Shares to the initial purchasers thereof or the consummation of any transaction contemplated by
this Agreement in connection with the sale and delivery of the New Shares (provided that such
provision shall not apply to future resales and deliveries of the Shares); for the avoidance of
doubt, the payment of commissions and fees pursuant to this agreement is subject to applicable
French tax law and the sale of the New Shares by the Managers may be subject to the French impôt de
bourse.

     (l) The issuance of the New Shares pursuant to the exercise of the Subscription Rights or
pursuant to this Agreement, and the compliance by the Company with the terms and provisions hereof
and the consummation of the transactions herein contemplated, will not result in a breach or
violation of any of the terms or provisions of, or constitute a default under, (i) any statute,
rule, regulation or order of any governmental agency or body or stock exchange authority or any
court, domestic or foreign, having jurisdiction over the Company or any subsidiary of the Company,
or any of their respective properties (each, a “Governmental Agency”), except for such breach or
violation which would not, individually or in the aggregate, have a Material Adverse Effect, or
(ii) any agreement or instrument to which the Company or any such subsidiary is a party or by which
the Company or any such subsidiary is bound or to which any of the properties of the Company or any
such subsidiary is subject except for any such breach or violation which would not, individually or
in the aggregate, have a Material Adverse Effect, or (iii) the charter or by-laws of the Company or
any such subsidiary.

     (m) This Agreement has been duly authorized and executed by the Company and constitutes a
valid and legally binding obligation of the Company, enforceable in accordance with its terms,
subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws
of general applicability from time to time in effect relating to or affecting creditors’ rights and
to general principles of equity and except in connection with rights to indemnification and
contribution thereunder that may be limited by federal or state securities laws or public policy
relating thereto.

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     (n) Except as disclosed in the Offering Documents, the Company and its subsidiaries have good
and marketable title to all real properties and all other properties and assets owned by them, in
each case free from liens, encumbrances and defects that would materially affect the value thereof
or materially interfere with the use made or to be made thereof by them; and except as disclosed in
the Offering Documents, the Company and its subsidiaries hold any leased (including by way of
charter party) real or personal property under valid and enforceable leases with no exceptions that
would materially interfere with the use made or to be made thereof by them.

     (o) Neither the Company nor any of its subsidiaries has taken any action nor, so far as the
Company is aware, have any steps been taken or legal proceedings been started or threatened against
it or any of its subsidiaries for winding-up, dissolution or reorganization, or for the appointment
of a receiver, administrative receiver, or administrator, trustee or similar officer of it or any
of its subsidiaries or any assets of it or any of its subsidiaries.

     (p) The Company and its subsidiaries possess adequate certificates, authorities or permits
issued by appropriate Governmental Agencies necessary to conduct the business now operated by them
except where the failure to do so would not, individually or in the aggregate, have a Material
Adverse Effect, and have not received any notice of proceedings relating to the revocation or
modification of any such certificate, authority or permit that, if determined adversely to the
Company or any of its subsidiaries, would, individually or in the aggregate, have a Material
Adverse Effect.

     (q) No labor dispute with the employees of the Company or any subsidiary of the Company exists
or, to the knowledge of the Company, is imminent that might have a Material Adverse Effect.

     (r) The Company and its subsidiaries own, possess or can acquire on reasonable terms, adequate
trademarks, trade names and other rights to inventions, know-how, patents, copyrights, confidential
information and other intellectual property (collectively, “intellectual property rights”)
necessary to conduct the business now operated by them, or presently employed by them, and have not
received any notice of infringement of or conflict with asserted rights of others with respect to
any intellectual property rights that, if determined adversely to the Company or any of its
subsidiaries, would, individually or in the aggregate, have a Material Adverse Effect.

     (s) Neither the Company nor any of its subsidiaries (i) is in violation of any statute, rule,
regulation, decision or order of any Governmental Agency relating to the use, disposal or release
of hazardous or toxic substances or relating to the protection or restoration of the environment or
human exposure to hazardous or toxic substances (collectively, “environmental laws”), (ii) owns or
operates any real property contaminated with any substance that is subject to any environmental
laws, (iii) is liable for any off-site disposal or contamination pursuant to any environmental laws
or (iv) is subject to any claim relating to any environmental laws, which violation, contamination,
liability or claim would, individually or in the aggregate, have a Material Adverse Effect; and the
Company is not aware of any pending investigation which might lead to such a claim.

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     (t) Except as described in the Offering Documents, there are no pending actions, suits or
proceedings against or affecting the Company, any of its subsidiaries or any of their respective
properties that, if determined adversely to the Company or any of its subsidiaries, would,
individually or in the aggregate, have a Material Adverse Effect, or would materially and adversely
affect the ability of the Company to perform its obligations under this Agreement or which are
otherwise material in the context of the Offering; and no such actions, suits or proceedings are,
to the Company’s knowledge, threatened or contemplated.

     (u) The audited consolidated financial statements of the Company as of and for the years ended
December 31, 2002, 2003 and 2004 and notes thereto, included or incorporated by reference in each
of the Offering Documents, present fairly in all material respects the consolidated financial
position of the Company and its consolidated subsidiaries as of the dates indicated therein, and
the results of operations, shareholders’ equity and cash flows of the Company and its consolidated
subsidiaries for the periods specified therein; such historical consolidated financial statements
have been prepared by reference to the requirements of French generally accepted accounting
principles (“French GAAP”) applied on a consistent basis throughout the periods involved, and
comply with all applicable French laws and regulations.

     (v) The 2004 IFRS transition information dated November 15, 2005 included or incorporated by
reference in the Offering Documents presents the expected impact of the transition to international
accounting standards and international financing reporting standards provided for by European
Regulation 1606/2002 of 19 July 2002 on the opening balance sheet as at January 1, 2004, the
balance sheet as at December 31, 2004 and income statement of the year ended December 31, 2004 (the
“2004 IFRS Transition Information”). The 2004 IFRS Transition Information do not constitute a
complete set of financial statements under IAS/IFRS, which would be necessary to provide, in
accordance with these standards, a fair view of the assets, liabilities, financial position and
results of the Company. The 2004 IFRS Transition Information have been prepared in accordance with
the basis of preparation set out in the explanatory note on transition to IFRS included or
incorporated by reference in the Offering Documents which indicates (a) how IFRS 1 and the other
international accounting standards adopted in the European Union have been applied and (b) the
standards, interpretations, rules and accounting methods which should be applicable for the
preparation of the consolidated accounts for the year 2005 under IFRS. However, as disclosed or
incorporated by reference in each of the Offering Documents, following confirmation of the
International Accounting Standards Board (“IASB”) policy published on September 30, 2005, the
Company has been required to change the accounting treatment of its Convertible Bonds as described
therein with the effects on such financial statements described therein.

     (w) The unaudited consolidated financial statements of the Company as of and for the six
months ended June 30, 2005, prepared under IFRS, and the notes thereto, included in the Prospectus,
present fairly in all material respects the financial position of the Company and its consolidated
subsidiaries as of the dates indicated therein, and the results of operations, shareholders’ equity
and cash flows of the Company and its consolidated subsidiaries for the periods specified therein;
such

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consolidated financial statements have been prepared by reference to the requirements of the
accounting standards enacted by the IASB and approved by the European Union, applied on a basis
consistent with the Company’s IFRS consolidated financial statements as of and for the year ended
December 31, 2004; provided, however, (i) as indicated therein, the full financial effect of
reporting under IFRS as it will be applied by the Company and reported in its first IFRS financial
statements cannot be determined with certainty and may be subject to change and (ii) as disclosed
or incorporated by reference in each of the Offering Documents, following confirmation of the IASB
policy published on September 30, 2005, the Company has been required to change the accounting
treatment of its Convertible Bonds as described therein with the effects on such financial
statements described therein.

     (x) The unaudited consolidated financial statements of the Company as of and for the nine
months ended September 30, 2005, prepared under IFRS, and the notes thereto, included or
incorporated by reference in each of the Offering Documents, present fairly in all material
respects the financial position of the Company and its consolidated subsidiaries as of the dates
indicated therein, and the results of operations, shareholders’ equity and cash flows of the
Company and its consolidated subsidiaries for the periods specified therein; such consolidated
financial statements have been prepared by reference to the requirements of the accounting
standards enacted by the IASB and approved by the European Union, applied on a basis consistent
with the Company’s IFRS consolidated financial statements as of and for the year ended December 31,
2004; provided, however, (i) as indicated therein, the full financial effect of reporting under
IFRS as it will be applied by the Company and reported in its first IFRS financial statements
cannot be determined with certainty and may be subject to change and (ii) as disclosed or
incorporated by reference in each of the Offering Documents, following confirmation of the IASB
policy published on September 30, 2005, the Company has been required to change the accounting
treatment of its Convertible Bonds as described therein with the effects on such financial
statements described therein.

     (y) The unaudited pro forma consolidated income statements of Exploration Resources ASA
(“Exploration Resources”) as of and for the year ended December 31, 2004, and the unaudited
consolidated income statements of Exploration Resources for the nine months ended September 30,
2005, in each case as they appear in the relevant columns of the Company’s unaudited pro forma
consolidated financial statements referred to in paragraph (z) below, have been prepared, in all
material respects, in accordance with the basis of preparation set out in such unaudited pro forma
consolidated financial statements referred to in paragraph (z) below; all significant assumptions
regarding the operations, assets and liabilities of Exploration Resources as to its inception as a
separate stand-alone company on January 1, 2005 have been reflected in the pro forma adjustments.

     (z) The unaudited pro forma IFRS consolidated income statement and balance sheet of the
Company and the notes thereto as of and for the year ended December 31, 2004, and the unaudited pro
forma IFRS consolidated income statement and the notes thereto for the nine months ended September
30, 2005, included or incorporated by reference in each of the Offering Documents have been
prepared on a basis that is consistent with the accounting policies of the Company reflected in the
2004

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IFRS Transition Information; all significant assumptions have been reflected in such pro forma
financial information such that such pro forma financial information has been properly compiled on
the basis stated in each of the Offering Documents.

     (aa) The Company’s financial statements as of and for the years ended December 31, 2002, 2003
and 2004, referred to in paragraph (u) above, as reconciled with generally accepted accounting
principles in the United States (“U.S. GAAP”) and, in the case of the financial statements for the
years ended December 31, 2002 and 2003, filed on Form 20-F and, in the case of financial statements
for the year ended December 31, 2004, on Amendment No. 2 to Form 20-F, comply with the requirements
of Form 20-F and of the Securities Exchange Act of 1934, as amended, and the rules and regulations
adopted thereunder.

     (bb) (i) The information set forth in Note 28 to the Company’s consolidated financial
statements under the heading “Summary of Differences Between Accounting Principles followed by the
Group and U.S. GAAP” and included or incorporated by reference in the Offering Circular, (ii) the
information included as “Transition to International Financial Reporting Standards” in the
Company’s Form 6-K dated November 15, 2005 and included or incorporated by reference in the
Offering Circular and (iii) the information in Notes 10 and 11 with respect to the Company’s IFRS
interim financial statements, included in the Company’s Form 6-K dated November 10, 2005 and
included or incorporated by reference in the Offering Circular include a fair summary, in all
material respects, of the differences, as they relate to the Company’s consolidated financial
statements as of and for the relevant period, between French GAAP and U.S. GAAP, French GAAP and
IFRS and U.S. GAAP and IFRS, as the case may be.

     (cc) Except as disclosed in or incorporated by reference in the Offering Documents, since the
date of the latest audited financial statements included in the Offering Documents, there has been
no material adverse change, nor any development or event involving a prospective material loss or
adverse change, in the condition (financial or other), business, prospects, properties or results
of operations of the Company and its subsidiaries taken as a whole, and, except as disclosed in or
contemplated by the Offering Documents, there has been no dividend or distribution of any kind
declared, paid or made by the Company on any class of its capital stock, nor since the date of the
latest audited financial statements included in the Offering Documents has there been any material
loss or interference with the business of the Company and its subsidiaries from fire, explosion,
flood or other calamity, whether or not covered by insurance, or from any labor dispute or court or
governmental action, order or decree, otherwise than as set forth or contemplated in the Offering
Documents.

     (dd) Except as described in or incorporated by reference in the Offering Documents, neither
the Company, nor any of its subsidiaries is currently or has reason or notice to believe that it
will be in the future a party to, or directly or indirectly concerned in, an agreement,
arrangement, understanding or practice (whether or not legally binding) which may (i) contravene
any treaty, regulation or directive of the European Community relating to competition or restraint
of trade, or any competition or restraint of trade laws of any other jurisdiction, (ii) be
registrable, unenforceable or void or rendering the

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Company, its subsidiaries or any of their respective officers, directors or employees liable
to administrative, civil or criminal proceedings under any competition legislation, or restraint of
trade regulation or similar legislation, or (iii) be the subject of any investigation by a
competent authority in respect of any provision of any competition legislation, or restraint of
trade regulation or similar legislation in any jurisdiction. Neither the Company nor any of its
subsidiaries is currently, or has reason to believe that it will be, engaged in (whether on its own
or jointly with any other person) any conduct which amounts to the abuse of a dominant position in
a market which may affect competition within the European Union or any part of it.

     (ee) The Company is not an open-end investment company, unit investment trust or face-amount
certificate company that is or is required to be registered under Section 8 of the United States
Investment Company Act of 1940 (the “Investment Company Act”); and the Company is not and, after
giving effect to the Offering and the application of the proceeds thereof as described in the
Offering Documents, will not be an “investment company” as defined in the Investment Company Act.

     (ff) The Company believes it was not a “passive foreign investment company” (“PFIC”) within
the meaning of Section 1297 of the U.S. Internal Revenue Code of 1986, as amended, during the year
ended December 31, 2004, and the Company does not expect that it will become a PFIC in the
foreseeable future.

     (gg) Assuming the accuracy of the representations and warranties of the Managers in this
Agreement, the offer and sale of the New Shares in the manner contemplated by this Agreement will
be exempt from the registration requirements of the Securities Act by reason of Section 4(2)
thereof and Regulation S thereunder.

     (hh) Neither the Company nor any of its respective affiliates (as defined in Rule 501(b) of
Regulation D under the Securities Act, an “Affiliate”), nor any person acting on its or their
behalf (i) has, within the six-month period prior to the date hereof, offered or sold, directly or
indirectly, in the United States (as such term is defined in Regulation S) shares or any security
of the same class or series as the New Shares in a manner that could give rise to a requirement to
register the New Shares or the Subscription Rights under the Securities Act; or (ii) has offered or
will offer or sell the Subscription Rights or the New Shares (A) in the United States by means of
any form of general solicitation or general advertising within the meaning of Rule 502(c) under the
Securities Act or (B) with respect to any such securities sold in reliance on Rule 903 of
Regulation S, by means of any directed selling efforts within the meaning of Rule 902(c) of
Regulation S. The Company has not entered and will not enter into any contractual arrangement with
respect to the distribution of the Subscription Rights or the New Shares except for this Agreement.

     (ii) The Company is a foreign private issuer within the meaning of Rule 902 under the
Securities Act, and there is no substantial U.S. market interest (as defined in Regulation S) for
the Company’s ordinary shares.

     (jj) The Company and its subsidiaries maintain a system of internal accounting controls
sufficient to provide reasonable assurance that (i) transactions are

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executed in accordance with management’s general or specific authorizations; (ii) transactions
are recorded as necessary to permit preparation of financial statements in conformity with French
GAAP and/or IFRS, as applicable, and to maintain asset accountability; (iii) access to assets is
permitted only in accordance with management’s general or specific authorization; and (iv) the
recorded accountability for assets is compared with the existing assets at reasonable intervals and
appropriate action is taken with respect to any differences, except, in each case, with regard to
matters set forth in the Offering Documents.

     (kk) Neither the Company nor any of its subsidiaries, and none of their respective properties
or assets, has any immunity from the jurisdiction of any court or from any legal process (whether
through service or notice, attachment prior to judgment, attachment in aid of execution, executing
or otherwise) under the laws of any jurisdiction in which it has been incorporated or in which any
of its property or assets are held.

     (ll) To ensure the legality, validity, enforceability and admissibility into evidence of this
Agreement or any other document to be furnished hereunder in France, it is not necessary that this
Agreement or such other document be filed or recorded with any court or any other authority in
France or that any stamp or similar tax (other than timbres de dimension) be paid in France on or
in respect of this Agreement or any such other document.

     (mm) The Company has not distributed and, prior to the later to occur of (i) the Closing Date
and (ii) the completion of the Offering, will not distribute any material referring to the Offering
other than the Offering Documents or other materials, if any, permitted by the Securities Act (or
regulations promulgated pursuant to the Securities Act).

     (nn) Mazars & Guérard and Barbier Frinault & Autres Ernst & Young Audit, who have certified
certain financial statements of the Company and its consolidated subsidiaries for each of the years
ended December 31, 2003 and December 31, 2004, and Barbier Frinault & Autres and Ernst & Young
Audit, who have certified certain financial statements of the Company and its consolidated
subsidiaries for the year ended December 31, 2002 and have delivered their reports in respect of
the financial statements of the Company and its consolidated subsidiaries for each such year with
respect to the audited consolidated financial statements and schedules included in the Offering
Documents, are, and have been in all such periods for which such financial statements are so
included, independent auditors with respect to the Company in accordance with applicable French
laws and regulations and independent public accountants within the meaning of the Securities Act
and the rules and regulations promulgated thereunder.

     (oo) Ernst & Young AS, who have certified certain pro forma financial statements of the
Company’s subsidiary Exploration Resources for the year ended December 31, 2004 and have delivered
their report in respect of such financial statements, are, and have been in the period covered by
such financial statements and for the nine months ended September 30, 2005, independent auditors
with respect to the Company in accordance with applicable Norwegian laws and regulations.

12

 

     (pp) Neither the Company nor any of its subsidiaries has taken, directly or indirectly, any
action designed to or that could reasonably be expected to cause or result in any stabilization or
manipulation of the price of the Company’s ordinary shares in violation of applicable law. To the
extent that information is required to be publicly disclosed under Articles 631-7 et seq. of the
Règlement général of the AMF ( the “Stabilizing Rules”) before stabilizing transactions can be
undertaken in compliance with the safe harbor provided under such Stabilizing Rules, such
information has been adequately publicly disclosed (within the meaning of the Stabilizing Rules).

     (qq) The statistical, market-related, industry and similar data included in the Offering
Documents is based on or derived from sources that, to the knowledge of the Company, having made
all reasonable inquiry, are reliable and accurate, and the disclosure of such data in the Offering
Documents is not misleading in any material respect.

     (rr) Each of the Company and the Company’s subsidiaries has filed all non-U.S., U.S. federal,
state and local tax returns that are required to be filed, or has requested extensions thereof
(except in any case in which the failure so to file would not have a Material Adverse Effect) and,
except as set forth in the Offering Documents, has paid all taxes required to be paid by it and any
other assessment, fine or penalty levied against it, to the extent that any of the foregoing is due
and payable or made adequate reserve of provision for, except for any such assessment, fine or
penalty that is currently being contested in good faith or as would not have a Material Adverse
Effect.

     (ss) The Company and its subsidiaries are insured by insurers of recognized financial
responsibility against such losses and risks and in such amounts as are customary in the businesses
in which they are engaged taking into account the Company and its subsidiaries’ level of risk and
the cost of insurance coverage; all policies of insurance and fidelity or surety bonds insuring the
Company or any of its subsidiaries or their respective businesses, assets, employees, officers and
directors are in full force and effect; the Company and its subsidiaries are in compliance with the
terms of such policies and instruments; there are no claims by the Company or any of its
subsidiaries under any such policy or instrument as to which any insurance company is denying
liability or defending under a reservation of rights clause that will have a Material Adverse
Effect on the Company and its subsidiaries, taken as a whole; none of the Company nor any of its
subsidiaries has been refused any insurance coverage sought or applied for; and none of the Company
nor any of its subsidiaries has any reason to believe as of the date of this Agreement that it will
not be able to renew its existing insurance coverage as and when such coverage expires or to obtain
similar coverage from similar insurers as may be necessary to continue its business at a cost that
would not have a Material Adverse Effect.

     (tt) No forward-looking statement (within the meaning of Section 27A of the Securities Act and
Section 21E of the Exchange Act) contained in the Offering Documents has been made or reaffirmed
without a reasonable basis or has been disclosed other than as in good faith.

13

 

     (uu) The operations of the Company and its subsidiaries are and have been conducted at all
times in compliance with applicable financial record keeping and reporting requirements relating to
money laundering applicable to the Company and its subsidiaries and, so far as the Company is
aware, any related or similar statutes, rules, regulations or guidelines, issued, administered or
enforced by any Governmental Agency (collectively, the “Money Laundering Laws”), and no action,
suit or proceeding by or before any Governmental Agency, authority or body or any arbitrator
involving the Company or any of its subsidiaries with respect to the Money Laundering Laws is
pending or, to the knowledge of the Company, threatened, and neither the Company nor any of its
subsidiaries nor, to the knowledge of the Company, any director, officer or employee of the Company
or any of its subsidiaries has (i) used any corporate funds for any unlawful contribution, gift,
entertainment or other unlawful expense relating to political activity; (ii) made any direct or
indirect unlawful payment to any foreign or domestic government official or employee from corporate
funds; (iii) caused the Company or any of its subsidiaries to be in violation of any provision of
the U.S. Foreign Corrupt Practices Act of 1977 or other national or local law regulating payments
to governmental officials or employees; or (iv) made any unlawful payment, except, in each case,
with regard to matters set forth in the Offering Documents.

     (vv) The acquisition by the Company of Exploration Resources did not result in a breach or
violation of any of the terms or provisions of, or constitute a default under, (i) any statute,
rule, regulation or order of any Governmental Agency; (ii) any agreement or instrument to which the
Company or any of the Company’s subsidiaries is a party or by which the Company or any such
subsidiary is bound or to which any of the properties of the Company or any such subsidiary is
subject, except as disclosed in the Offering Documents; or (iii) the charter or by-laws of the
Company or any such subsidiary.

     (ww) Assuming the approval of the amendment of the terms of the Company’s 7.75% USD 85 million
convertible bonds due 2012, issued on November 4, 2004 (the “Convertible Bonds”) at the
extraordinary shareholders’ meeting to be held on November 16, 2005, the amendment of such terms
will have been duly authorized by all necessary corporate action by the Company and the shares to
be issued on conversion of the Convertible Bonds will, upon such conversion, be validly issued and
fully paid.

2. Subscription, Offer and Sale.

     (a) On the basis of the representations, warranties and agreements herein set forth, but
subject to the terms and conditions herein contained, each Manager hereby agrees, severally but not
jointly, to procure subscribers for, failing which to subscribe and pay for itself, the percentage
of New Shares set forth opposite its name in Schedule 1 to this Agreement, to the extent such New
Shares shall not have been subscribed for at the close of the Subscription Period after the
exercise of the Subscription Rights, up to an aggregate maximum of 4,327,776 New Shares for all the
Managers, at a price of EUR 51 per share (the “Subscription Price”) on the Closing Date (as defined
in Section 3(c) below).

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     (b) The Company and the Managers agree that this Agreement does not constitute a firm
underwriting (garantie de bonne fin) under Article L. 225-145 of the French Commercial Code.

3. Subscription, Payment and Delivery; Commissions.

     (a) The subscriptions and payments of holders of Subscription Rights (except for those
referred to in Section 3(b) below) will be received free of charge during the Subscription Period,
by any authorized financial intermediaries in France (the “Depositary Institutions”).

     (b) The subscriptions and payments of shareholders who hold registered shares in the form
nominatif pur will be received free of charge during the same period by BNP Paribas Securities
Services, as agent of the Company.

     (c) The date of closing will be December 16, 2005 (the “Closing Date”). On the Closing Date,
(i) the Depositary Institutions, including BNP Paribas Securities Services, as agent of the
Company in respect of nominatif pur shares, will transfer into the account of BNP Paribas
Securities Services, as centralizing agent, the funds corresponding to the subscriptions received
by them as intermediaries and, (ii) where applicable, the Managers will transfer or cause to be
transferred, into the same account, the funds corresponding to the payment of the New Shares
subscribed for pursuant to their underwriting commitment (or, if applicable, through the exercise
of the Subscription Rights held by the Managers); BNP Paribas Securities Services, as centralizing
agent, will transfer the funds so paid to an account “Augmentation de capital”, opened in its
books. The Company shall instruct BNP Paribas Securities Services to issue the depositary
certificate required by Article L. 225-146 of the French Commercial Code.

     (d) On the Closing Date after the depositary certificate required by Article L. 225-146 of the
French Commercial Code is furnished by BNP Paribas Securities Services, all of the New Shares will
be created and registered in an account opened with BNP Paribas Securities Services, which will
proceed with the necessary transfers.

     (e) On the Closing Date after the depositary certificate required by Article L. 225-146 of the
French Commercial Code is furnished by BNP Paribas Securities Services, the Company shall instruct
BNP Paribas Securities Services to transfer, for value on the Closing Date, to an account opened
with BNP Paribas in the name of the Company, the funds referred to in Section 3(c) above, after
deducting the gross amount of commissions and expenses referred to Sections 3(h) — (i) below.

     (f) As soon as possible on or after the Closing Date, BNP Paribas Securities Services will pay
directly to the Depositary Institutions the amount of the Commission de Guichet (as defined below)
to which they are entitled;

     (g) On the Closing Date, the Underwriting and Management Commission and the Selling Commission
(as defined below) will be paid by BNP Paribas Securities Services on behalf of the Company to BNP
Paribas, for the account of the

15

 

Managers and the Depositary Institutions in accordance with the provisions set out in Section
3(f) above.

     (h) In consideration for underwriting and managing the Offering, the Company will pay to the
Managers a combined underwriting and management commission equal to 3.25% of the aggregate gross
sale proceeds of the Offering (the “Underwriting and Management Commission ”). 1% of the aggregate
gross sale proceeds of the Offering shall represent the management commission, to be split between
the Managers pro rata to their respective underwriting commitments as set forth in Schedule 1
hereto (with a praecipium of 50 percent to be shared equally between BNP Paribas and CSFB), and
2.25% of the aggregate gross sale proceeds of the Offering shall represent the underwriting
commission, to be split between the Managers pro rata to their respective underwriting commitments
as set forth in Schedule 1 hereto.

     (i) The Managers will receive a selling commission equal to 0.8% of the aggregate gross sale
proceeds of the New Shares for which they will subscribe or cause to be subscribed or through the
exercise of the Subscription Rights that they have acquired, in each case by way of their
respective underwriting commitments as set forth in Schedule 1 hereto (the “Selling Commission”).
The Depositary Institutions will receive a selling commission equal to 0.8% of the aggregate gross
sale proceeds of the New Shares subscribed to through such Depositary Institutions, subject to a
minimum of EUR 10 and a maximum of EUR 300 per order (the “Commission de Guichet”).

4. Representations, Warranties and Agreements of the Managers.

     (a) Each Manager severally acknowledges that the Subscription Rights and New Shares have not
been and will not be registered under the Securities Act and may not be offered or sold except in
accordance with Regulation S or pursuant to an exemption from, or in a transaction not subject to,
the registration requirements of the Securities Act. Each Manager severally represents and agrees
that it has offered and sold the New Shares and will offer and sell the New Shares only (A) in the
United States to persons it reasonably believes to be qualified institutional buyers (as defined in
Rule 144A under the Securities Act) acquiring such shares for their own account or for the account
of another qualified institutional investor and who provide the Managers and the Company with a
letter in the form of Exhibit 4(a) to the Agreement or (B) in offshore transactions
pursuant to Rule 903 of Regulation S. Accordingly, neither such Manager nor its Affiliates, nor
any persons acting on its or their behalf, have engaged or will engage in any directed selling
efforts with respect to the New Shares.

     (b) Each Manager severally agrees that it and each of its Affiliates has not entered and will
not enter into any contractual arrangement with respect to the distribution of the New Shares
except for any such arrangements with other Managers or Affiliates of the other Managers or with
the prior written consent of the Company.

     (c) Each Manager severally agrees that neither it nor any of its affiliates nor any person
acting on its or their behalf will offer or sell the New Shares in the United States by means of
any form of general solicitation or general advertising within the meaning of Rule 502(c) under the
Securities Act, including, but not limited to,

16

 

(i) any advertisement, article, notice or other communication published in any newspaper,
magazine or similar media or broadcast over television or radio or disseminated via the Internet,
or (ii) any seminar or meeting whose attendees have been invited by any general solicitation or
general advertising.

     (d) Each Manager severally represents, warrants and agrees that: (i) it has only communicated
or caused to be communicated and will only communicate or cause to be communicated an invitation or
inducement to engage in investment activity (within the meaning of Section 21 of the FSMA) received
by it in connection with the issue or sale of the Subscription Rights or New Shares in
circumstances in which Section 21(1) of the FSMA does not apply to the Company; and (ii) it has
complied and will comply with all applicable provisions of the FSMA with respect to anything done
by it in relation to the Subscription Rights or New Shares in, from or otherwise involving the
United Kingdom.

     (e) Each Manager severally represents and agrees that it has complied and will comply in all
material respects with all applicable laws and regulations in each jurisdiction in which it offers
and distributes any offering materials relating to the Offering or offers or sells the New Shares.

     (f) Each Manager severally represents, warrants and agrees that: in relation to each Member
State of the European Economic Area which has implemented the Prospectus Directive (each, a
“Relevant Member State”), with effect from and including the date on which the Prospectus Directive
is or was implemented in that Relevant Member State (the “Relevant Implementation Date”), it will
not make an offer of the New Shares or the Subscription Rights to the public in that Relevant
Member State prior to the publication of a prospectus in relation to the New Shares and the
Subscription Rights which has been approved by the competent authority in that Relevant Member
State or, where appropriate, approved in another Relevant Member State and notified to the
competent authority in that Relevant Member State, all in accordance with the Prospectus Directive,
except that it may, with effect from and including the Relevant Implementation Date, make an offer
of New Shares to the public in that Relevant Member State at any time:

     (1) to legal entities which are authorized or regulated to operate in the
financial markets or, if not so authorized or regulated, whose corporate purpose is
solely to invest in securities;

     (2) to any legal entity which has two or more of the following (1) an average
of at least 250 employees during the last financial year; (2) a total balance sheet
of more than €43,000,000 and (3) an annual net turnover of more than €50,000,000,
as shown in its last annual or consolidated accounts; or

     (3) in any other circumstances which do not require the publication by the
Company of a prospectus pursuant to Article 3 of the Prospectus Directive.

17

 

     For the purposes of the preceding paragraphs, the expression “offer of New Shares or the
Subscription Rights to the public” in relation to any New Shares or Subscription Rights in any
Relevant Member State means the communication in any form and by any means of sufficient
information on the terms of the offer and the New Shares and/or the Subscription Rights to be
offered so as to enable an investor to decide to purchase or subscribe for the New Shares or the
Subscription Rights, as the same may be varied in that Member State by any measure implementing the
Prospectus Directive in that Member State and the expression “Prospectus Directive” means Directive
2003/71/EC and includes any relevant implementing measure in each Relevant Member State.

     (g) The Managers shall conduct stabilization activities only in accordance with all applicable
laws and regulations in the jurisdictions in which they conduct such activities, and shall not
undertake activities in respect of the Subscription Rights or the New Shares in a manner that would
constitute price manipulation in violation of applicable laws and regulations.

5. Certain Agreements of the Company. The Company agrees with the several Managers that:

     (a) If, at any time prior to the completion of the resale of any Shares subscribed by
Managers, any event occurs as a result of which the Offering Documents as then amended or
supplemented would include an untrue statement of a material fact or omit to state any material
fact necessary in order to make the statements therein, in the light of the circumstances under
which they were made, not misleading, or if it is necessary at any such time to amend or supplement
the Offering Documents to comply with any applicable law or regulation or any rule of Euronext
Paris or to amend documents incorporated by reference in the Offering Circular to comply with any
applicable rule or regulation of the SEC, the Company promptly will notify the Managers of such
event and promptly will prepare, at its own expense, an amendment or supplement which will correct
such statement or omission or effect such compliance. The Company will advise the Managers
promptly of any proposal to amend or supplement the Offering Documents and will not effect such
amendment or supplement without the Managers’ consent. Neither the Managers’ consent to, nor the
Managers’ delivery to offerees or investors of, any such amendment or supplement shall constitute a
waiver of any of the conditions set forth in Section 6.

     (b) The Company will notify the Managers promptly if it appears that one of its
representations or warranties given herein has become untrue at any time prior to payment being
made to the Company on the Closing Date.

     (c) The Company will furnish to the Managers copies of the Offering Circular and Prospectus
and all amendments and supplements to such documents, in each case as soon as available and in such
quantities as the Managers reasonably request.

     (d) If the Company receives notice from the SEC to the effect that the SEC intends to review
the Form 20-F, or otherwise concerning the Form 20-F, the Company shall forthwith notify the
Managers and shall send to the Managers a copy of any communications relating to the Form 20-F
received from the SEC.

18

 

     (e) The Company undertakes to use its best efforts to obtain the listing of the New Shares on
Eurolist; and the Company undertakes to file with the New York Stock Exchange a Supplemental
Listing Application and such other documents as the rules of the New York Stock Exchange may
require with respect to the New Shares.

     (f) The Company will use its best efforts to cause the Subscription Rights and New Shares to
be admitted to clearance through Euroclear France.

     (g) During the period beginning from the date hereof and continuing to and including the date
180 days after the Closing Date, the Company agrees not to offer, sell, issue, contract to sell,
pledge, grant any option to purchase or otherwise dispose of, except as provided hereunder, any
ordinary shares or any securities of the Company that are substantially similar to the New Shares,
including but not limited to any securities that are convertible into or exchangeable for, or that
represent the right to receive, ordinary shares or any such substantially similar securities, or
make any short sale, engage in any hedging or other transaction that is designed to or that
reasonably could be expected to lead to or result in a sale or disposition of ordinary shares or
such substantially similar securities (even if such disposition would be by someone other than the
Company), or enter into a transaction with similar economic effect, or publicly announce its
intention to do any of the foregoing, in each case, without the prior written consent of the
Managers; provided, however, that the Company may, without first obtaining such consent: (i) grant
stock options in accordance with past practice pursuant to a stock option plan described in the
Offering Documents, or issue shares upon the exercise of any stock options so granted or previously
granted pursuant to plans that are described in the Offering Documents; (ii) issue or transfer
shares in the context of acquisitions in which the party receiving such shares agrees to be bound
by restrictions substantially identical to those set forth in this paragraph (g) in respect of such
shares for the remainder of the duration of the restrictions on the Company up to an aggregate
maximum of 10% of the share capital outstanding as of the Closing Date; (iii) issue or sell shares
to its employees, or to employees of its affiliates, in connection with a capital increase reserved
to employees; (iv) transfer shares pursuant to its existing liquidity agreement described in the
Offering Documents; and (v) issue or sell shares pursuant to the conversion of Convertible Bonds.

     (h) The Company shall provide to the Managers a duly executed copy of an undertaking from
Institut Français du Pétrole to the effect that it will not transfer any shares it holds in the
Company (including the New Shares it receives upon exercise of its Subscription Rights) during the
period beginning the date hereof and continuing to and including 120 days after the Closing Date,
substantially in the form set forth in Exhibit 5(h) hereto.

     (i) The Company shall provide to the Managers a duly executed copy of an undertaking from The
Bank of New York, as depositary of the Company’s American Depositary Receipt facility, to the
effect that, from the date hereof and until the fortieth day after the Closing Date, deposits in,
or pre-releases of American Depositary Receipts of the Company from, such facility shall not be
accepted unless the person requesting to make such deposit or pre-release provides a written
certification in the form of Exhibit 5(i).

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     (j) Prior to the Closing Date and for 40 days subsequent to the Closing Date, except if
required under applicable laws or regulations, neither the Company nor any of its subsidiaries will
issue any press release or other communication directly or indirectly or hold any press conference
with respect to the Offering, the Company or any of its subsidiaries, the condition, financial or
otherwise (except for routine communications in the ordinary course of business and consistent with
past practice), or the earnings, business affairs or business prospects of the Company or any of
its subsidiaries, without the prior consent of the Managers, such consent not to be unreasonably
withheld.

     (k) The Company agrees to pay all expenses (together with VAT, where applicable) incidental to
the performance of its obligations under this Agreement, including, subject to receipt of
sufficiently itemized accounts (i) the fees, disbursements and expenses of the Company’s legal
advisors; (ii) the fees, disbursements and expenses of the Company’s accountants; (iii) the fees,
disbursements and expenses of the Managers’ legal advisors, Cleary Gottlieb Steen & Hamilton LLP up
to a maximum amount of EUR 400,000; (iv) all expenses in connection with the preparation and
printing of this Agreement, the Offering Circular and the Prospectus and amendments and supplements
thereto, and any other document relating to the issuance, offer, sale and delivery of the New
Shares; (v) any expenses (including reasonable fees and disbursements of counsel) incurred in
connection with qualification of New Shares for sale under the laws of such jurisdictions in
Europe, the United States and Canada as the Managers designate and the printing of memoranda
relating thereto; (vi) expenses incurred in distributing the Offering Circular and the Prospectus
(including any amendments and supplements thereto) to the Managers; (vii) all expenses associated
with the listing of the Subscription Rights and the New Shares on Eurolist, as well as the fees
payable to the AMF and all commissions payable to Eurolist and any other French or foreign market
authority; (viii) the cost of legal and financial announcements; (ix) the centralisation fee due to
BNP Paribas Securities Services in the amount of EUR 60,000; and (x) all other costs and expenses
incident to the performance of the Company’s obligations hereunder which are not otherwise
specifically provided for in this Agreement. The Company agrees to pay or reimburse the Managers
(to the extent incurred by them) for all out-of-pocket expenses (including but not limited to
reasonable expenses of the Managers’ due diligence investigation, consultants’ fees, travel
expenses and disbursements and fees and expenses of counsel) incurred by it in connection with its
obligations hereunder. If the transactions contemplated in this Agreement are not consummated
because any condition to the obligations of the Managers set forth in Section 6 hereof is not
satisfied, because this Agreement is terminated or because of any failure, refusal or inability on
the part of the Company to perform all obligations and satisfy all conditions on their part to be
performed or satisfied hereunder (other than solely by reason of a default by a Manager on its
obligations hereunder after all conditions hereunder have been satisfied in accordance herewith),
the Company agrees to promptly reimburse the Managers upon demand for all reasonable out-of-pocket
expenses (including reasonable fees, disbursements and charges of Cleary Gottlieb Steen & Hamilton
LLP, the Managers’ legal advisors, up to the EUR 400,000 maximum amount) that shall have been
incurred by the Managers in connection with the proposed purchase and sale of the New Shares. The
Company shall not be liable to the Managers for loss of contemplated profits from the transactions
covered by this Agreement. Other than as set forth in this Section 5(k)

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each of the parties hereto shall bear all out-of-pocket costs and expenses incurred by them.

     (l) The Company will indemnify and hold harmless the Managers against any documentary, stamp
or similar issuance tax that may be imposed by the Republic of France (other than the fixed
registration duty and timbres de dimension), including any interest and penalties, that may be
payable by the Managers on the issuance and initial sale of the New Shares and on the execution and
delivery of this Agreement. For the avoidance of doubt, the Managers will pay all of their own
costs and expenses, including share transfer taxes, on resales of any of the New Shares by them.
All payments to be made by the Company hereunder shall be made without withholding or deduction for
or on account of any present or future taxes, duties or governmental charges whatsoever unless the
Company is compelled by law to deduct or withhold such taxes, duties or charges. In that event,
the Company shall pay such additional amounts as may be necessary in order that the net amounts
received after such withholding or deduction shall equal the amounts that would have been received
if no withholding or deduction had been made. If such withholding or deduction of tax is due, the
Managers and the Company shall promptly co-operate in completing any procedural formalities
necessary for the Company to avoid such withholding or deduction of tax. The Company will not be
required to pay such additional amounts to a Manager if the Company is able to demonstrate that the
payment of additional amounts could have been made to the Manager without a withholding or
deduction of tax had that Manager complied with its obligations to cooperate with the Company.

     (m) The Company will not, and will cause its respective Affiliates not to, nor will the
Company authorize or knowingly permit any person acting on its behalf (excluding the Managers, as
to whom no agreement is made) to, solicit any offer to buy or sell the Subscription Rights or New
Shares by means of any form of general solicitation or general advertising within the meaning of
Regulation D under the Securities Act (“Regulation D”) or in any manner involving a public offering
within the meaning of Regulation D or in any manner involving a public offering within the meaning
of Section 4(2) of the Securities Act; and the Company will not offer, sell, contract to sell or
otherwise dispose of, directly or indirectly, any securities under circumstances where such offer,
sale, contract or disposition would cause the exemption afforded by Section 4(2) of the Securities
Act to cease to be applicable to the Offering as contemplated by this Agreement and the Offering
Documents.

     (n) None of the Company, its Affiliates or any person acting on its or their behalf (other
than the Managers) will engage in any directed selling efforts (as that term is defined in
Regulation S) with respect to the Subscription Rights or New Shares; provided, however, that the
Company makes no undertaking as to the actions of any Manager or any person acting on behalf of
them.

     (o) The Company will use its reasonable best endeavors to do and perform all things required
or necessary to be done and performed under this Agreement by it prior to the Closing Date and to
satisfy all conditions precedent to the delivery of the New Shares.

21

 

6. Conditions of the Obligations of the Managers. The several obligations of each Manager to
purchase and pay for the New Shares on the Closing Date as provided herein are subject to the
accuracy of the representations and warranties on the part of the Company, to the accuracy of the
statements of officers of the Company made pursuant to the provisions hereof and to the performance
by the Company of its obligations hereunder, in each case, in all material respects, and to the
following additional conditions:

     (a) The Managers shall have received a comfort letter, dated the date of this Agreement, of
Mazars & Guérard and Barbier Frinault & Autres Ernst & Young Audit substantially in the form
attached hereto as Exhibit 6(a) concerning the financial information with respect to the
Company set forth in the Offering Circular.

     (b) The Managers shall have received a comfort letter, dated the date of this Agreement, of
Ernst & Young AS substantially in the form attached hereto as Exhibit 6(b) concerning the
pro forma financial information with respect to Exploration Resources set forth in the Offering
Circular.

     (c) Subsequent to the execution and delivery of this Agreement, there shall not have occurred
(i) any change, or any development or event involving a prospective change, in the condition
(financial or other), business, properties or results of operations of the Company and its
subsidiaries taken as one enterprise which, in the judgment of the Managers, is material and
adverse and makes it impractical or inadvisable to proceed with completion of the Offering or the
sale of and payment for the New Shares; (ii) any change in U.S., French, international financial,
political or economic conditions or currency exchange rates or exchange controls as would, in the
judgment of the Managers, be likely to prejudice materially the success of the proposed Offering,
whether in the primary market or in respect of dealings in the secondary market; (iii) any material
suspension or material limitation of trading in securities generally on the New York Stock Exchange
or Euronext Paris or any setting of minimum prices for trading on any such exchange, or any
suspension of trading of any securities of the Company on any exchange or in the over-the-counter
market; (iv) any banking moratorium declared by U.S. Federal, New York, European Union, English or
French authorities; (v) any major disruption of settlements of securities or clearance services in
the United States, the European Union, the United Kingdom or France; or (vi) any attack on,
outbreak or escalation of hostilities, declaration of war or act of terrorism involving the United
States, the European Union, the United Kingdom or France, or any other national or international
calamity or emergency if, in the judgment of the Managers, the effect of any such attack, outbreak,
escalation, act, declaration, calamity or emergency makes it impractical or inadvisable to proceed
with completion of the Offering or sale of and payment for the New Shares.

     (d) The Managers shall have received from Linklaters, counsel for the Company, an opinion and
negative comfort letter, dated the Closing Date, substantially in the form attached hereto as
Exhibit 6(d). The Company shall have furnished to such counsel such documents as they
request for the purpose of enabling them to pass upon such matters.

22

 

     (e) The Managers shall have received opinions, dated the Closing Date, from internal counsel
for the Company substantially in the form attached hereto as Exhibit 6(e).

     (f) The Managers shall have received from Cleary Gottlieb Steen & Hamilton LLP, counsel for
the Managers, an opinion and negative comfort letter, dated the Closing Date, as to such matters as
the Managers may reasonably request. The Company shall have furnished to such counsel such
documents as they request for the purpose of enabling them to pass upon such matters.

     (g) The Managers shall have received certificates, dated the Closing Date, of the principal
executive officer and the principal financial or accounting officer of the Company, in which such
officers shall state that the representations and warranties of the Company in this Agreement are
true and correct, that the Company has complied with all agreements and satisfied all conditions on
its part to be performed or satisfied hereunder at or prior to the Closing Date, and that,
subsequent to the respective dates of the most recent financial statements in the Offering
Documents there has been no material adverse change, nor any development or event involving a
prospective material adverse change, in the condition (financial or other), business, properties or
results of operations of the Company and its subsidiaries taken as a whole except as set forth in
the Offering Documents.

     (h) The Managers shall have received a letter, dated the Closing Date, of Mazars & Guérard and
Barbier Frinault & Autres Ernst & Young Audit that meets the requirements of subsection (a) of this
Section.

     (i) The Managers shall have received a letter, dated the Closing Date, of Ernst & Young AS
that meets the requirements of subsection (b) of this Section.

     (j) The notice relating to the issue of the New Shares shall have been published in the BALO.

     (k) The notice of Euronext concerning the separation (détachement) of the Subscription Rights,
the issue of the New Shares and their listing on Eurolist shall have been published.

     (l) The Managers shall have received a duly executed copy of the letter from the Institut
Français du Pétrole described in Section 5(h) of this Agreement in a form reasonably satisfactory
to the Managers.

     (m) The Managers shall have received a duly executed copy of the letter from The Bank of New
York described in Section 5(i) of this Agreement in a form reasonably satisfactory to the Managers.

     (n) The Company shall have (i) received on or prior to the Closing Date all consents,
approvals, authorizations and other orders of, or qualifications with, each court, regulatory
authority, governmental body or agency, or third party, and (ii) given all notices required under
relevant law and any material agreements, in each case,

23

 

required to execute, deliver and perform its obligations under this Agreement and the New
Shares.

     (o) No order preventing or suspending the use of the Prospectus shall have been issued by the
AMF, nor shall any challenge to the visa of the AMF on the Prospectus have been filed with any
court.

     (p) The letters (lettres de fin de travaux) delivered by the auditors to the Company, with a
copy to the AMF, as described in Section 1(b) hereof, shall have remained in full force and effect,
and shall not have been amended, supplemented or superseded.

     The Company will furnish the Managers with such copies of such conformed copies of such
opinions, certificates, letters and documents as the Managers reasonably request. The Managers may
in their sole discretion waive compliance with any conditions to the obligations of the Managers
hereunder.

7. Indemnification and Contribution.

     (a) The Company undertakes to each Manager that it will indemnify and hold harmless each such
Manager, its partners, directors and officers and each person, if any, who controls each Manager
within the meaning of Section 15 of the Securities Act (each, a “Relevant Party”), against any
losses, claims, damages or liabilities, joint or several, to which such Relevant Party may become
subject, under the Securities Act or the Exchange Act or otherwise (each, a “Loss”), insofar as
such Loss (or any action in respect thereof) arises out of or is based upon any untrue statement or
alleged untrue statement of any material fact contained in an Offering Document, or any amendment
or supplement thereto, or arise out of or are based upon the omission or alleged omission to state
therein a material fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading, including any Loss (or any action in
respect thereof) arising out of or based upon the Company’s failure to perform its obligations
under Section 5(a) of this Agreement, and the Company shall pay to such Relevant Party on demand an
amount equal to such Loss. No Relevant Party shall have any duty or obligation, whether as
fiduciary or trustee for any Relevant Party or otherwise, to recover any such payment or to account
to any other person for any amounts paid to it under this Section 7. The Company will reimburse
each Relevant Party for any legal or other expenses incurred by such Relevant Party in connection
with investigating or defending any such Loss (or action in respect thereof) upon demand as such
expenses are incurred; provided, however, that the Company will not be liable in any such case to
the extent that any such Loss (or any action in respect thereof) arises out of or is based upon an
untrue statement or alleged untrue statement in or omission or alleged omission from any of such
documents in reliance upon and in conformity with written information furnished to the Company made
by the Managers through BNP Paribas and CSFB specifically for use in the Offering Documents, it
being understood and agreed that the only such information consists of the information described as
such in subsection (b) below.

24

 

     (b) Each Manager will severally and not jointly indemnify and hold harmless the Company and
its directors and officers and each person, if any, who controls the Company within the meaning of
Section 15 of the Securities Act against any losses, claims, damages or liabilities to which the
Company may become subject, under the Securities Act or the Exchange Act or otherwise, insofar as
such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are
based upon any untrue statement or alleged untrue statement of any material fact contained in an
Offering Document, or any amendment or supplement thereto or arise out of or are based upon the
omission or the alleged omission to state therein a material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading,
in each case to the extent, but only to the extent, that such untrue statement or alleged untrue
statement or omission or alleged omission was made in reliance upon and in conformity with written
information furnished to the Company by the Managers specifically for use therein, and will
reimburse any legal or other expenses reasonably incurred by the Company in connection with
investigating or defending any such loss, claim, damage, liability or action as such expenses are
incurred, it being understood and agreed that the only such information consists of the following
information in the Offering Documents furnished to the Company by the Managers specifically for use
therein: the table entitled “Manager” under the caption “Plan of Distribution” in the Offering
Circular; provided, however, that the Managers shall not be liable for any losses, claims, damages
or liabilities arising out of or based upon the Company’s failure to perform its obligations under
Section 5(a) of this Agreement.

     (c) Promptly after receipt by an indemnified party under this Section of notice of the
commencement of any action, such indemnified party will, if a claim in respect thereof is to be
made against the indemnifying party under subsection (a) or (b) above, notify the indemnifying
party in writing of the commencement thereof; but the failure to notify the indemnifying party
shall not relieve it from any liability that it may have under subsection (a) or (b) above except
to the extent that it has been materially prejudiced (through the forfeiture of substantive rights
or defenses) by such failure; and provided further that the failure to notify the indemnifying
party shall not relieve it from any liability that it may have to an indemnified party otherwise
than under subsection (a) or (b) above. In case any such action is brought against any indemnified
party, the indemnifying party will be entitled to participate therein and, to the extent that it
may wish, jointly with any other indemnifying party similarly notified, to assume the defense
thereof, with counsel reasonably satisfactory to such indemnified party (who shall not, except with
the consent of the indemnified party, be counsel to the indemnifying party), and after notice from
the indemnifying party to such indemnified party of its election so to assume the defense thereof,
the indemnifying party will not be liable to such indemnified party under this section for any
legal or other expenses subsequently incurred by such indemnified party in connection with the
defense thereof other than reasonable costs of investigation; provided, however, that the
indemnifying party shall only be obligated to pay the fees, disbursements and other charges of one
counsel (and one additional local counsel for each applicable jurisdiction) to the indemnified
parties in connection with any single matter, unless an indemnified party has a legal position that
differs from the other indemnified parties or may be subject to different claims and defenses than
the other indemnified parties, in which case the indemnifying party shall be obligated to pay the
fees, disbursements and other charges of one additional counsel for

25

 

such indemnified party. No indemnifying party shall, without the prior written consent of the
indemnified party, effect any settlement of any pending or threatened action in respect of which
any indemnified party is or could have been a party and indemnity could have been sought hereunder
by such indemnified party unless such settlement includes (i) an unconditional release of such
indemnified party from all liability on any claims that are the subject matter of such action and
(ii) does not include a statement as to, or an admission of fault, culpability or failure to act by
or on behalf of any indemnified party.

     (d) If the indemnification provided for in this Section is unavailable or insufficient to hold
harmless an indemnified party under subsection (a) or (b) above, then each indemnifying party shall
contribute the amount paid or payable by such indemnified party as a result of the losses, claims,
damages or liabilities referred to in subsection (a) or (b) above (i) in such proportion as is
appropriate to reflect the relative benefits received by the Company on the one hand and the
Managers on the other from the Offering or (ii) if the allocation provided by clause (i) above is
not permitted by applicable law, in such proportion as is appropriate to reflect not only the
relative benefits referred to in clause (i) above but also the relative fault of the Company on the
one hand and the Managers on the other in connection with the statements or omissions which
resulted in such losses, claims, damages or liabilities as well as any other relevant equitable
considerations. The relative benefits received by the Company on the one hand and the Managers on
the other shall be deemed to be in the same proportion as the total net proceeds from the Offering
(before deducting expenses) received by the Company bear to the total discounts and commissions
received by the Managers from the Company under this Agreement. The relative fault shall be
determined by reference to, among other things, whether the untrue or alleged untrue statement of a
material fact or the omission or alleged omission to state a material fact relates to information
supplied by the Company or the Managers and the parties’ relative intent, knowledge, access to
information and opportunity to correct or prevent such untrue statement or omission. The amount
paid by an indemnified party as a result of the losses, claims, damages or liabilities referred to
in the first sentence of this subsection (d) shall be deemed to include any legal or other expenses
reasonably incurred by such indemnified party in connection with investigating or defending any
action or claim which is the subject of this subsection (d). Notwithstanding the provisions of
this subsection (d), no Manager shall be required to contribute any amount in excess of the amount
by which the total subscription price for the New Shares forming part of such Manager’s
underwriting commitment exceeds the amount of any damages which the Manager has otherwise been
required to pay by reason of such untrue or alleged untrue statement or omission or alleged
omission. The Managers’ obligations in this subsection (d) to contribute are several in proportion
to their respective purchase obligations and not joint.

     (e) The obligations of the Company under this Section shall be in addition to any liability
which the Company may otherwise have and shall extend, upon the same terms and conditions, to each
person, if any, who controls any of the Managers within the meaning of the Securities Act or the
Exchange Act; and the obligations of the Managers under this Section shall be in addition to any
liability which the respective Managers may otherwise have and shall extend, upon the same terms
and conditions, to each person, if any, who controls the Company within the meaning of the
Securities Act or the Exchange Act.

26

 

8. Defaulting Managers. If any Manager or Managers default in their obligations to purchase New
Shares hereunder and the aggregate number of New Shares that such defaulting Manager or Managers
agreed but failed to purchase does not exceed one-eleventh of the aggregate number of all of the
New Shares to be purchased at the time of delivery of the New Shares, the non-defaulting Manager or
Managers may make arrangements satisfactory to the Company for the purchase of such New Shares by
other persons, including any of the Managers, but if no such arrangements are made by the Closing
Date, the non-defaulting Managers shall be obligated severally, in proportion to their respective
commitments hereunder, to purchase the New Shares that such defaulting Managers agreed but failed
to purchase. If any Manager or Managers so default and the aggregate number of New Shares with
respect to which such default or defaults occur exceeds one-eleventh of the aggregate number of all
of the New Shares to be purchased at the time of delivery of the New Shares and arrangements
satisfactory to the non-defaulting Managers and the Company for the purchase of such New Shares by
other persons are not made within 36 hours after such default, this Agreement will terminate
without liability on the part of any non-defaulting Manager or the Company, except as provided in
Section 9. As used in this Agreement, the term “Manager” includes any person substituted for a
Manager under this Section. Nothing herein will relieve a defaulting Manager from liability for
its default.

9. Survival of Certain Representations and Obligations. The respective indemnities, agreements,
representations, warranties and other statements of the Company or its officers and of the Managers
set forth in or made pursuant to this Agreement will remain in full force and effect, regardless of
any investigation, or statement as to the results thereof, made by or on behalf of any Manager, the
Company or any of their respective representatives, officers or directors or any controlling
person, and will survive delivery of and payment for the New Shares. If this Agreement is
terminated pursuant to Section 8 or if for any reason the purchase of the New Shares by the
Managers is not consummated, the Company shall remain responsible for the expenses to be paid or
reimbursed by it pursuant to Section 5 and the respective obligations of the Company and the
Managers pursuant to Section 7 shall remain in effect. If the purchase of the New Shares by the
Managers is not consummated for any reason other than solely because of the termination of this
Agreement pursuant to Section 8 or the occurrence of any event specified in clause (ii), (iii),
(iv), (v) or (vi) of Section 6(c), the Company will reimburse the Managers for all out-of-pocket
expenses (including fees and disbursements of counsel plus VAT where applicable) reasonably
incurred by them in connection with the Offering.

10. Notices. All communications hereunder will be in writing and, if sent to the Managers will be
mailed, delivered or faxed to the Managers, c/o BNP Paribas, 16 boulevard des Italiens, 75009
Paris, France, Attention: Equity Syndicate, telephone number: +33 1 44 95 41 00, facsimile number:
+33 1 42 99 25 38 and Credit Suisse First Boston (Europe) Limited, One Cabot Square, London E14
4QJ, United Kingdom, Attention: Nick Williams/Stephane Gruffat, facsimile number + 44 207
888 3335 or, if sent to the Company, will be mailed or delivered or faxed to it at Tour
Montparnasse 33 avenue du Maine 75755 Paris Cedex 15, Attention: Mr. Michel Ponthus and Mr.
Stephane-Paul Frydman, facsimile number + 33 1 64 47 34 31. Any such notice shall take effect, in
the case of delivery, at the time of delivery, in the case of mail two business

27

 

days after the same was deposited in the post (first class postage prepaid) and, in the case of
facsimile, at the time of completion of the transmission.

11. Representation of Managers. BNP Paribas and CSFB will act for the several Managers in
connection with this Agreement, and any action under this Agreement taken by BNP Paribas and CSFB
will be binding upon all the Managers.

12. Applicable Law and Jurisdiction. This Agreement shall be governed by the laws of France. Each
of the Company and the Managers submits to the non-exclusive jurisdiction of the Tribunal de
Commerce of Paris for purposes of any suit or proceeding arising out of or relating to this
Agreement, and waives, to the fullest extent it may effectively do so, any objection which it may
now or hereafter have to the laying of venue of any such proceeding.

13. Headings. The headings herein are included for convenience of reference only and are not
intended to be part of, or to affect the meaning or interpretation of, this Agreement.

28

 

	 	 	 	 	 
	 	Very truly yours,

Compagnie Générale de Géophysique 

 	 
	 	BY:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

The foregoing Agreement

is hereby confirmed and accepted

as of the date first above written.

	 	 	 	 	 
	BNP PARIBAS

	 
	 	BY:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	CREDIT SUISSE FIRST BOSTON (EUROPE) LIMITED

	 
	 	BY:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	RBC CAPITAL MARKETS CORPORATION

	 
	 	BY:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

29

 

SCHEDULE 1

Underwriting Commitments of the Managers

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	Maximum number of	 
	 	 	 	 	 	 	 	 	 	 	New Shares to be	 
	Role	 	Manager	 	 	%	 	 	Subscribed	 
	Joint Global
Coordinator Lead
Manager and
Bookrunner
	 	BNP Paribas	 	 	37.5	 	 	 	1,622,916	 
	Joint Global
Coordinator Lead
Manager and
Bookrunner
	 	CSFB	 	 	37.5	 	 	 	1,622,916	 
	Joint Lead Manager
	 	RBC Capital Markets Corporation	 	 	25.0	 	 	 	1,081,944	 
	 
	 	Total	 	 	100.0	 	 	 	4,327,776	 

 

 

SCHEDULE 2

List of Subsidiaries

	 
	CGG Marine SAS

	Geocal SARL

	Geoco SAS

	Sercel SA

	CGG Explo SARL

	Sercel Holding SA

	CGG Americas, Inc.

	CGG do Brasil Participacoes Ltda.

	CGG Canada Services Ltd.

	CGG International SA

	CGG (Nigeria) Ltd.

	CGG Marine Resources Norge A/S

	CGG Offshore UK Ltd.

	CGG Pan India Ltd.

	Compania Mexicana de Geofisica

	Exgeo CA

	Geoexplo

	Geophysics Overseas Corporation Ltd

	CGG Australia Services Pty Ltd.

	CGG Asia Pacific

	Sercel Australia Pty Ltd.

	Hebei Sercel JunFeng

	Sercel Inc.

	Sercel Singapore Pte Ltd.

	Sercel England Ltd.

	Sercel Canada Ltd.

	Exploration Resources ASA

 

 

     Multiwave

 

 

EXHIBIT 1(b)

Lettres de fin de travaux

 

 

EXHIBIT 4(a)

Form of Investor Letter

[Date]

Compagnie Générale de Géophysique

Tour Maine-Montparnasse

33, avenue du Maine

B. P. 191

75755 Paris Cedex 15

France

Attn: Vice President, Legal Affairs

With a copy to:

[Insert Name of relevant Financial Intermediary through which the shares and/or the rights are
held]

Ladies and Gentlemen:

In connection with our proposed exercise of Preferential Subscription Rights (the “Rights”) to
purchase Shares (“Shares”) of Compagnie Générale de Géophysique (the “Company”), or our purchase of
shares in the related underwritten offering, we confirm that:

We are a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act
of 1933, as amended (the “Securities Act”).

We understand and acknowledge that the Shares have not been and will not be registered under the
Securities Act and that we will receive the Shares in a transaction exempt from the registration
requirements of the Securities Act.

We represent that we are acquiring the Shares for our own account (or for the account of a
“qualified institutional buyer” (as defined in Rule 144A under the Securities Act) for which we are
acting as duly authorized fiduciary or agent), in each case for investment and (subject, to the
extent necessary, to the disposition of our property being at all times within our control) not
with a view to any distribution of the Shares.

We have received a copy of the Offering Circular dated November 15, 2005 relating to the offering
of the Shares and such other information as we deem necessary in order to make our investment
decision. We acknowledge that we have read and agreed to the matters stated in the section “Notice
to Investors” of the Offering Circular.

We understand and agree that none of the Shares may be transferred, sold, delivered, hypothecated
or encumbered (collectively, a “transfer”) unless such transfer is made outside the United States
in compliance with Rule 903 or 904 of Regulation S under the Securities Act.

We agree not to deposit the Shares in an unrestricted American Depositary Receipt facility.

We understand that these representations and undertakings are required in connection with United
States securities laws and irrevocably authorize the Company to produce this letter to any
interested party in any administrative or legal proceedings or official enquiry with respect to the
matters covered herein.

We undertake promptly, and in any event prior to any attempted exercise of the Rights, to inform
the Company if, at any time prior to December 16, 2005, any of the foregoing statements ceases to
be true.

Very truly yours,

[Name of Investor]

	 	 	 	 	 
	 	 	 
	By:  	 	 
	Name:  	 	 
	Title:  	 	 
	 

 

 

Exhibit 5(h)

Form of Undertaking from Institut Français du Pétrole

le 15 novembre 2005

BNP Paribas

Credit Suisse First Boston Limited

en qualité de Coordinateurs Globaux,

pour le compte des établissements garants (« les Garants »)

Messieurs,

     Nous nous référons à votre engagement en qualité de Coordinateurs Globaux — Chefs de File et
Teneurs de Livre Associés, de l’augmentation de capital avec maintien du droit préférentiel de
souscription des actionnaires d’un montant de [•] euros (l’« Augmentation de Capital ») de la
société Compagnie Générale de Géophysique, société anonyme au capital de 23.666.180 euros, dont le
siège social est situé 1, rue Léon Migaux, 91300 Massy, immatriculée au Registre du Commerce et des
Sociétés d’Evry sous le numéro 969 202 241 (« CGG « ).

     La présente lettre vous est adressée conformément aux dispositions du contrat de garantie
conclu entre CGG et vous relativement à l’Augmentation de Capital.

     Nous vous confirmons par la présente que l’IFP s’engage irrévocablement, envers chaque Garant,
pendant une période commençant à la date de la note d’opération relative à l’Augmentation de
Capital et expirant 120 jours après la date du règlement-livraison des actions à émettre dans le
cadre de l’Augmentation de Capital, à ne pas annoncer, procéder, ni s’engager à procéder,
directement ou indirectement, à une quelconque émission, offre, opération ou promesse de cession,
de nantissement ou de toute autre forme de disposition d’une quelconque autre manière (y compris,
notamment, par opération d’appel public à l’épargne, par voie de placement privé auprès
d’investisseurs institutionnels, par cession de gré à gré, par voie de prêts de titres ou par voie
de conclusion d’un produit dérivé ou assimilé ou d’une opération de couverture) d’actions de CGG ou
autres titres donnant droit ou pouvant donner droit, immédiatement ou à terme, à une quotité de son
capital (les « Titres »), ni à conclure une quelconque autre opération ayant un effet économique
équivalent (y compris, notamment, en transférant le bénéfice économique des Titres de CGG, que ce
transfert donne lieu à un règlement en espèces ou par remises de Titres de CGG) à l’exception de la
cession des droits préférentiels de souscription attachées aux actions.

Fait à                     ,

                                        

 

 

Exhibit 5(i)

Undertaking of The Bank of New York and Form of Written Certification

 

 

[•], 2005

The Bank of New York, ADR Depositary

101 Barclay Street, 22W

New York, New York 10286

Attention: Depositary Receipt Department

Dear Sir or Madam:

In connection with (i) our deposit today of ordinary shares, €2 nominal value per share (“Deposited
Shares”), of Compagnie Générale de Géophysique, a company organized under the laws of France (the
“Company”), in exchange for American Depositary Shares (“ADSs”) to be issued pursuant to the
Deposit Agreement, dated as of May 6, 1997 (the “Deposit Agreement”), among the Company, The Bank
of New York, as depositary, and the holders and beneficial owners of ADSs evidenced by American
Depositary Receipts issued thereunder, or (ii) the pre-release to us today of ADSs on the basis of
a guarantee to deposit ordinary shares of the Company, €2 nominal value per share, in respect of
the ADSs issued in pre-release (such shares to be deposited also being “Deposited Shares” for
purposes of this letter), the undersigned certifies that:

     (1) the undersigned is not the Company or an Affiliate (as such term is defined in Regulation
D under the U.S. Securities Act of 1933, as amended) of the Company and, if acting on behalf of
another person, such person is not the Company and has confirmed that it is not an Affiliate of the
Company or acting on behalf of the Company or an Affiliate of the Company;

     AND

     (2) either (a) the undersigned acquired the Deposited Shares prior to November 15, 2005 or, if
the undersigned is acting on behalf of another person, such person acquired the Deposited Shares
prior to November 15, 2005;

     OR

     (b) although the Deposited Shares were acquired on or after November 15, 2005, the undersigned
or, if acting on behalf of another person, such person, (x) did not acquire the Deposited Shares
from the Company in the Company’s €[•] million capital increase with preferential subscription
rights, (y) was and is located outside the United States, and (z) acquired the Deposited Shares
though the facilities of Euronext Paris by means of a customary brokerage transaction.

In addition, the undersigned understands (and, if acting on behalf of another person, that person
understands) that (X) under the terms of the Deposit Agreement, any person making a deposit of
Deposited Shares is deemed to represent and warrant that (i) such Deposited Shares and the
certificates therefor are duly authorized, validly issued, fully paid, non-assessable and legally
obtained by such person, (ii) all preemptive (and similar) rights, if any, with respect to such
Deposited Shares have been validly waived or exercised, (iii) the person making such deposit is
duly authorized so to do, (iv) the Deposited Shares are free and clear of any lien, encumbrance,
security interest, charge, mortgage or adverse claim, (v) the Deposited Shares are not, and the
ADSs issuable upon deposit will not be, Restricted Securities (as defined in the Deposit
Agreement), and (vi) the Deposited Shares presented for

 

 

deposit have not been stripped of any rights or entitlements, and (Y) if any representations or
warranties contained herein are false in any way, the Company and the Depositary shall be
authorized, at the cost and expense of the person making the deposit of the Deposited Shares, to
take any and all actions necessary to correct the consequences thereof.

	 	 	 	 	 
	 	[Name of Depositor]

 	 
	 	By:  	 	 
	 	 	(Authorized Signature) 	 
	 	 	Name:
Title:	 	 

 

 

	 	 	 	 	 

Exhibit 6(a)

Form of Comfort Letter from Mazars & Guérard and Barbier Frinault & Autres Ernst

& Young Audit

	 	 	 
	BARBIER FRINAULT & AUTRES

	 	MAZARS & GUERARD
	ERNST & YOUNG Audit
	 	MAZARS
	41, rue Ybry, 92576
	 	Le Vinci — 4, Allée de l’Arche, 92075
	Neuilly-sur-Seine Cedex
	 	La Défense Cedex

November 15, 2005

The Board of Directors of

Compagnie Générale de Géophysique

1, rue Léon Migaux

91341 Massy Cedex

France

     And

BNP Paribas

16 boulevard des Italiens

75009 Paris

and

Credit Suisse First Boston (Europe) Limited (“CSFB”)

One Cabot Square

London, England E14 4QJ

on their own behalf and as representatives of the several managers (the “Managers”) in connection
with the international offering of up to 4 327 776 ordinary shares issued by Compagnie Générale de
Géophysique (the “Shares”).

Dear Sirs,

This comfort letter is issued exclusively in connection with the private placement of the Shares
(i) to “qualified investors” (within the meaning of article 3.2(a) of Directive 2003/71/EC) in
France and in other member states of the European Union and (ii) to institutional investors outside
the European Union including “qualified institutional buyers” as defined under Rule 144A under the
Act (as defined below) (the “International Offering”) pursuant to the Offering Circular dated
November 15, 2005 prepared by Compagnie Générale de Géophysique in connection with the
International Offering (the “Offering Circular”). It is not intended and does not cover the public
offering of the Shares in France and, as applicable, other European Union member states, through an
“offer to the public” as defined in Directive 2003/71/EC.

We have audited in accordance with French generally accepted auditing standards (“French GAAS”) and
in accordance with the standards of the Public Company Accounting Oversight Board (United States)
(“US GAAS”) the consolidated balance sheets of Compagnie Générale de Géophysique (the

 

 

“Company”) and its subsidiaries as of December 31, 2004 and 2003 and the related consolidated
statements of operations, cash flows and shareholders’ equity for each of the two years in the
period ended December 31, 2004, and accompanying Notes.

Barbier Frinault & Autres and Ernst & Young Audit have audited in accordance with auditing
standards generally accepted in France and the United States the consolidated balance sheet of the
Company and its subsidiaries as of December 31, 2002 and the related consolidated statement of
operations, cash flows and shareholders’ equity for the year ended December 31, 2002, and
accompanying Notes.

These consolidated financial statements as of and for the years ended December 31, 2004, 2003 and
2002 (the “Audited Financial Statements”) are included in the Company’s 2004 Form 20-F/A, as filed
with the SEC on April 18, 2005 and amended on September 19, 2005 and October 31, 2005(the “2004
Form 20-F”) on October 31, 2005 and incorporated by reference in the Offering Circular .
The Audited Financial Statements were prepared in accordance with generally accepted
accounting principles in France (“French GAAP”) and include a reconciliation as of and for the same
periods to generally accepted accounting principles in the United States (“US GAAP”) in accordance
with the financial statements requirements of Item 18 of Form 20-F. Our report issued in
accordance with US GAAS dated April 11, 2005, except for Note 28, as to which the date is October
28, 2005, and our report issued in accordance with US GAAS dated May 9, 2003 with respect thereto
are also incorporated by reference in the Offering Circular.

We have audited, in accordance with French Professional Practice Guide dated December 9, 2004
adopted by the “Conseil National” of the “Compagnie Nationale des Commissaires aux Comptes”
(National Association of Statutory Auditors) and with professional guidance included in Question 2
of “First Time Adoption of International Financial Reporting Standards — Guidance for Auditors on
Reporting Issues” issued by IFAC in August 2004, the 2004 IFRS Transition Financial Information
included as “Transition to International Financial Reporting Standards” as amended in the Company’s
Report on Form 6-K dated November 15, 2005 and comprising consolidated balance sheets as of January
1, 2004 and December 31, 2004 and a consolidated statement of operations for the year ended
December 31, 2004 together with reconciliations presenting the impact of the Company’s first-time
adoption of IFRS on consolidated shareholders’ equity as of January 1 and December 31, 2004 and net
income of the Company for the year ended December 31, 2004 (the “2004 IFRS Transition
Information”). The 2004 IFRS Transition Information was prepared as part of the Company’s
first-time adoption of International Financial Reporting Standards (IFRS) and is incorporated by
reference in the Offering Circular. The 2004 IFRS Transition Information does not constitute a
complete set of financial statements under IAS/IFRS because it has been prepared as part of the
first-time adoption of IFRS as adopted by the European Union in respect of the preparation of the
IFRS consolidated financial statements of the Company as of and for the year ended December 31,
2005. The 2004 IFRS Transition Information does not include comparative information because of the
January 1, 2004 transition date selected by the Company under IFRS 1, nor all the explanatory notes
required by IFRS as adopted in the European Union that would be necessary to provide, in accordance
with these standards, a fair view of the assets, liabilities, financial position and results of the
Company. The 2004 IFRS Transition Information was prepared in accordance with the basis of
preparation set out in Sections 1 and 3 of the 2004 IFRS Transition Information, which describe how
IFRS have been applied under IFRS 1, including the assumptions management has made about the
standards and interpretations expected to be effective, and the policies expected to be adopted
when management prepares the first complete set of IFRS consolidated financial statements of the
Company as of and for the year ended December 31, 2005. Our report dated November 15, 2005 with
respect thereto is also incorporated by reference in the Offering Circular and includes the
following emphasis paragraphs:

“Without qualifying our opinion, we draw your attention to:

 

 

	 	•	 	Introduction “Transition to the IFRS” to the 2004 IFRS financial information which
explain why the comparative information to be disclosed in the consolidated financial
statements for the period ending December, 31, 2005 may differ from the information
provided in the accompanying interim consolidated financial statements,;
	 
	 	•	 	introduction “transition to IFRS” and notes 3.11 and 4.5 h) to the 2004 IFRS
financial information which describe the reasons and the nature of the restatements of
the 2004 IFRS financial information as of December 31, 2004 accompanying our special
purpose audit report dated May 11, 2005 and their impacts of the profit and loss of the
Company.

Moreover, we draw attention to the fact that the Company has prepared the 2004 IFRS financial
information as part of its conversion to IFRS, as adopted in the European Union for the preparation
of consolidated financial statements for the year ending 2005. The 2004 IFRS financial information
does not constitute a complete set of consolidated IFRS financial statements and therefore does not
provide a fair presentation of the Company’s financial position, results of operations and cash
flows in accordance with IFRS.”

This letter is being furnished in reliance upon your representation to us that:

a. You are knowledgeable with respect to the due diligence review process that would be performed
if this placement of securities were being registered pursuant to the Securities Act of 1933 (the
“Act”).

b. In connection with the offering of the Shares, the review process you have performed is
substantially consistent with the due diligence review process that you would have performed if
this placement of securities were being registered pursuant to the Act.

In connection with the Offering Circular:

1. We are independent statutory auditors with respect to the Company as required by the laws of the
French Republic and under the professional rules of the “Compagnie Nationale des Commissaires aux
Comptes” and independent registered public accountants with respect to the Company within the
meaning of the Act, as amended, and the applicable rules and regulations thereunder adopted by the
Securities and Exchange Commission (the “SEC”) and the Public Company Accounting Oversight Board
(United States)(the “PCAOB”).

2. In our opinion, the consolidated financial statements and financial statement schedules audited
by us and included in the 2004 Form 20-F and the Offering Circular comply as to form in all
material respects with the applicable accounting requirements of the Securities Exchange Act of
1934, as amended, and the related rules and regulations adopted by the SEC.

3. We have not audited any consolidated financial statements of the Company as of any date or for
any period subsequent to December 31, 2004. The purpose (and, therefore, the scope) of our audit
for the year ended December 31, 2004 was to enable us to express our opinion on the consolidated
financial statements as of December 31, 2004 and for the year then ended, but not on the
consolidated financial statements for any interim period within that year. Therefore, we are
unable to and do not express any opinion on the unaudited consolidated balance sheet, unaudited
consolidated statements of operations and cash flows as of September 30, 2005 and for the nine
months then ended or on the financial position, results of operations or cash flows of the Company
and its subsidiaries as of any date or for any period subsequent to December 31, 2004.

4. For purposes of this letter, we have read the 2005 minutes of the meetings of the shareholders,
of the Board of Directors of the Company as set forth in the minute books through November 9, 2005,

 

 

officials of the Company having advised us that the minutes of all such meetings through that date
were set forth therein, and have carried out other procedures to November 9, 2005, as follows (our
work did not extend to the period from November 10, 2005 to November 15, 2005 inclusive).

5. With respect to the period from January 1, 2005 to September 30, 2005, we have:

(i) performed in accordance with Professional Practice Guide dated July 13, 2005 adopted by the
"Conseil National” of the “Compagnie Nationale des Commissaires aux Comptes” the procedures
specified under Standard 3-101 issued by the “Compagnie Nationale des Commissaires aux Comptes” for
a review of interim consolidated financial statements on the unaudited consolidated interim balance
sheet as of September 30, 2005 and related unaudited consolidated interim statements of operations
and of cash flows for the nine months ended September 30, 2005 and September 30, 2004 included in
the Offering Circular (the “Unaudited consolidated interim financial statements”) and

(ii) inquired of certain officials of the Issuer who have responsibility for financial and
accounting matters as to whether the Unaudited consolidated interim financial statements” referred
to under (i) above were prepared as part of the Issuer’s transition to IFRS in accordance with the
basis of preparation set out in Note 1 to such unaudited consolidated interim financial statements.

Nothing came to our attention as result of the foregoing procedures that would cause us to believe
the the Unaudited consolidated interim financial statements do not present fairly in all material
respects the financial position of the Issuer and its operations as of and for the nine months
ended September 30, 2005 as part of the Issuer’s transition to IFRS in accordance with the basis of
preparation set out in Note 1 to such unaudited consolidated interim financial statements. Without
qualifying our conclusion, we draw your attention to:

	•	 	note “presentation of financial information” and note 1 to the interim
consolidated financial statements which presents the options used for
disclosure of interim consolidated financial statements as of
September 30, 2005, that do not include all the information required
in the notes by IFRS as adopted in the European Union and that would
allow to give a true and fair view of the financial position of the
group and the result of its operations according to that framework;
	 
	•	 	note “presentation of financial information” and note 1 to the interim
consolidated financial statements which explain why the comparative
information to be disclosed in the consolidated financial statements
for the period ending December 31, 2005 and in the interim
consolidated financial statements for the nine-month period ending
September 30, 2006 may differ from the information provided in the
accompanying interim consolidated financial statements;
	 
	•	 	note 1 — “Summary of significant accounting policies” and note 6 —
“financial debt” to the interim consolidated financial statements
which describe the accounting policies adopted for the treatment in
profit and loss statement of an expense of €38 million related to the
change in fair value of the conversion option embedded in the
convertible debt denominated in US dollar.

6. With respect to the period from October 1, 2005 to November 9, 2005, Company officials have
advised us that no financial statements as of any date or for any period subsequent to September
30, 2005 are available; accordingly, the procedures carried out by us with respect to changes in
financial statement items after September 30, 2005 have, of necessity, been limited to inquiring of
Company officials who have responsibility for financial and accounting matters as to whether, at
November 9, 2005, there was any change in Common stock or Shareholders’ equity or any increase in
Net debt, defined as Financial debt (excluding fair value of embedded equity conversion option)
less Cash and cash equivalents, measured in accordance with IFRS on a consistent basis as compared
with the corresponding amounts shown on the September 30, 2005 unaudited consolidated balance sheet
referred to in the introductory paragraphs to this letter and incorporated by reference in the
Offering Circular.

 

 

On the basis of these inquiries and our reading of the minutes as described in 4 above, nothing
came to our attention that would cause us to believe that, at November 9, 2005, there was any
change, except as disclosed in the Offering Circular in Common stock, or any increase in excess of
€75 million in Net debt, defined as Financial debt (excluding fair value of embedded equity
conversion option) less Cash and cash equivalents measured in accordance with IFRS on a consistent
basis as compared with the corresponding amounts shown on the September 30, 2005 unaudited
consolidated balance sheet referred to in the introductory paragraphs to this letter and
incorporated by reference in the Offering Circular.

6. For purposes of this letter, we have also read the items identified by you on the attached pages
of the Offering Circular and have performed the following procedures, which were applied as
indicated with respect to the symbols explained below:

	 	A 	 	Compared the numbers and Euros amounts to amounts in the Audited Financial
Statements incorporated by reference in the Offering Circular and found such amounts to be
in agreement after giving effect to rounding if applicable.
	 
	 	B 	 	Compared the Euros amounts to amounts in the unaudited consolidated interim financial
statements as of and for the nine months ended September 30, 2005 included or incorporated
by reference in the Offering Circular and found such amounts to be in agreement after
giving effect to rounding if applicable.
	 
	 	C 	 	Compared the Euros amounts to amounts in the 2004 IFRS Transition Information
incorporated by reference in the Offering Circular and found such amounts to be in
agreement after giving effect to rounding if applicable.
	 
	 	D 	 	Compared the Euros amounts not derived directly from the Audited Financial
Statements, the unaudited consolidated interim financial statements as of and for the nine
months ended September 30, 2005 or from the 2004 IFRS Transition Information included or
incorporated by reference in the Offering Circular to amounts in the Company’s accounting
records and found such amounts to be in agreement after giving effect to rounding if
applicable.
	 
	 	E 	 	Compared the Euros amounts to amounts not derived directly from the Audited Financial
Statements, the unaudited consolidated interim financial statements as of and for the nine
months ended September 30, 2005 or from the 2004 IFRS Transition Information included or
incorporated by reference in the Offering Circular and that could not be compared directly
to amounts in the Company’s accounting records, to amounts in analyses prepared by the
Company from its accounting records and found such amounts to be in agreement after giving
effect to rounding if applicable.
	 
	 	F 	 	Proved the arithmetic accuracy of the percentages or amounts based on data in the
audited consolidated financial statements, unaudited consolidated interim financial
statements, IFRS transition information, accounting records and analyses referred to in A,
B, C, D and E above, respectively.
	 
	 	G 	 	Proved the arithmetic accuracy of the convenience translation from Euros to U.S.
dollars, using the exchange rate referred to in the Offering Circular (No representation
is made that the Euros amounts could have been, or could be converted to U.S. dollars at
these rates or at any other rates).
	 
	 	H 	 	We read the unaudited pro forma consolidated balance sheet as of December 31, 2004
and the unaudited pro forma statement of income of the Company for the nine months ended
September 30, 2005 and for the year ended December 31, 2004 (the “Pro Forma Financial

 

 

	 	 	 	Information”) and inquired of certain officials of the Company who have responsibility for
financial and accounting matters as to whether all significant assumptions regarding the
acquisition of Exploration Resources ASA by the Company had been reflected in the pro
forma adjustments and whether the Pro Forma Financial Information has been prepared in
compliance with the accounting policies of the Company reflected in its 2004 IFRS
Transition Financial Information.
	 
	 	 	 	Those officials referred to above stated, in response to our inquiries, that (i) all
significant assumptions had been reflected in the pro forma adjustments so that the Pro
Forma Financial Information is properly compiled on the basis stated in the Offering
Circular and (ii) that basis is consistent with the accounting policies of the Company
reflected in the 2004 IFRS Transition Financial Information. Such Pro Forma Financial
Information was not prepared and shall not be construed as prepared in accordance with
Article 11 of SEC Regulation S-X.
	 
	 	 	 	The foregoing procedures are less in scope than an examination, the objective of which is
the expression of an opinion on management’s assumptions, the pro forma adjustments, and
the application of those adjustments to historical financial information. Accordingly we
do not express such an opinion for purpose of the International Offering and make no
representation about the sufficiency of the foregoing procedures for your purposes in this
comfort letter.

7. Our audit of the consolidated financial statements for the periods referred to in the
introductory paragraphs of this letter comprised audit tests and procedures deemed necessary for
the purpose of expressing an opinion on such financial statements taken as a whole. For none of
the periods referred to therein, nor for any other period, did we perform audit tests for the
purpose of expressing an opinion on individual balances of accounts or summaries of selected
transactions such as those covered by the procedures enumerated above, and, accordingly, we express
no opinion thereon.

8. It should be understood that we make no representations as to questions of legal interpretation
or as to the sufficiency for your purposes of the procedures enumerated in the preceding
paragraphs; also such procedures would not necessarily reveal any material misstatement of the
information identified in the preceding paragraphs as set forth in the Offering Circular. Further,
we have addressed ourselves solely to the foregoing data and make no representations as to the
adequacy of disclosures or whether any material facts have been omitted.

9. The foregoing procedures do not constitute an audit conducted in accordance with generally
accepted auditing standards in France and/or the auditing standards of the PCAOB. Had we performed
additional procedures, other matters might have come to our attention that would have been reported
to you.

10. We make no representation as to whether the International Offering will take place or the
number of the Shares to be sold in the International Offering.

11. This letter, including its attachment, is solely for the information of the Company and to
assist the Managers in conducting and documenting their investigation of the affairs of the Company
in connection with the International Offering of the Shares covered by the Offering Circular, and
it is not to be used, circulated, quoted, or otherwise referred to within or without the Managers’
group for any other purpose, including but not limited to the registration, purchase, or sale of
securities, nor is it to be filed with or referred to in whole or in part in the Offering Circular
or any other document, except that reference may be made to it in the underwriting agreement or in
any list of closing documents pertaining to the International Offering of the Shares covered by the
Offering Circular.

 

 

12. This letter shall be governed by, and construed in accordance with French law. The courts of
France (represented by the Cour d’Appel de Paris) shall have exclusive jurisdiction in relation to
any claim, dispute or difference concerning this letter and any matter arising from it. Each party
irrevocably waives any right it may have to object an action being brought in those Courts, to
claim that the action has been brought in an inconvenient forum, or to the claim that those Courts
do not have jurisdiction.

Very truly yours,

	 	 	 
	BARBIER FRINAULT & AUTRES
	 	MAZARS & GUERARD
	ERNST & YOUNG Audit
	 	MAZARS
	 	 	 
	Represented by
	 	Represented by
	 	 	 
	 	 	 
	Pascal Macioce
	 	Philippe Castagnac

 

 

Exhibit 6(b)

Form of Comfort Letter from Ernst & Young AS

[Ernst & Young AS Letterhead]

Exploration Resources

and

Compagnie Générale de Géophysique

For the attention of the Board of Directors

1, rue Léon Migaux

91341 Massy Cedex

France

     And

BNP Paribas

16 boulevard des Italiens

75009 Paris

and

Credit Suisse First Boston (Europe) Limited

One Cabot Square

London, England E144QJ

on their own behalf and as representatives of the several managers (the “Managers”) in connection
with the international offering of up to xxx ordinary shares issued by Compagnie Générale de
Géophysique (the “Shares”).

November 15, 2005

Dear Sirs,

We have audited in accordance with the Norwegian Act on Auditing and Auditors and auditing
standards and practices generally accepted in Norway (“Norwegian GAAS”) the consolidated financial
statements of Rieber Shipping ASA as of December 31, 2004 and for the year then ended. These
consolidated financial statements were prepared in accordance with accounting standards, principles
and practices generally accepted in Norway (“Norwegian GAAP”). Our report dated February 17, 2005
with respect thereto is included in the prospectus of Exploration Resources filed with the Oslo
Stock Exchange on February 17, 2005.

Exploration Resources prepared its 2004 pro forma condensed income statement and balance sheet in
accordance with Norwegian GAAP as they were included in the registration document filed with the
Oslo Stock Exchange on February 17, 2005 as a carve-out from Rieber Shipping ASA audited
consolidated financial statements as of and for the year ended December 31, 2004 prepared in
accordance with Norwegian GAAP.

For purpose of the “Unaudited condensed pro forma consolidated financial information” of Compagnie
Générale de Géophysique (“CGG”) included in the International Offering Circular dated November 15,
2005 prepared by CGG in connection with the offering of up to xx ordinary shares

 

 

issued by Compagnie Générale de Géophysique (the “Shares”), Exploration Resources applied
accounting principles adjustments to its 2004 pro forma balance sheet and income statement and to
its nine months ended September 30, 2005 income statement to reflect such statements on a
consistent International Financial Reporting Standards (IFRS) basis as part of CGG transition to
IFRS as described under note entitled “Financial statements used to prepare the pro forma financial
data” in the “Unaudited condensed pro forma consolidated financial information” included in the
International Offering Circular. The resulting 2004 pro forma balance sheet and income statement of
Exploration Resources appear under the column “Exploration Resource Group pro forma” in the tables
entitled “Unaudited pro forma balance sheet as at December 31, 2004” and “Unaudited pro forma
statement of operations for the year ended December 31, 2004” respectively which are included in
the “Unaudited condensed pro forma consolidated financial information” of CGG included in the
International Offering Circular.

In connection with the International Offering Circular of CGG referred to above:

1. We are independent auditors with respect to Exploration Resources ASA and with respect to
Compagnie Générale de Géophysique as required by Norwegian law.

2. We have not audited any consolidated financial statements of Exploration Resources as of any
date or for any period subsequent to its inception on January 1, 2005. Therefore, we are unable to
and do not express any opinion on the unaudited consolidated balance sheet and unaudited
consolidated statement of income as of September 30, 2005 and for the nine months then ended or on
the financial position, results of operations or cash flows of the Company and its subsidiaries as
of any date or for any period subsequent to its inception on January 1, 2005.

3. For purposes of this letter, we have read the 2005 minutes of the meetings of the shareholders
and of the Board of Directors of Exploration Resources as set forth in the minute books through
November 9, 2005, officials of Exploration Resources having advised us that the minutes of all such
meetings through that date were set forth therein, except for the meetings of the Board of
Directors held on [x], 2005, for which minutes have not been approved. With respect to the meetings
held on [x], 2005 we have reviewed the draft minutes including a summary of the topics discussed at
the meeting. We have carried out other procedures to November 9, 2005, as follows (our work did not
extend to the period from November 10, 2005 to November 15, 2005 inclusive):

	 	 	a. With respect to the opening balance sheet as of January 1, 2005, we have audited the
accompanying preliminary opening IFRS balance sheet and related notes of the Exploration
Resources ASA as at 1 January 2005 presented in Norwegian kroner included in the attached
“Transition to International Financial Reporting Standards” document prepared by Exploration
Resources (the “Opening Balance Sheet”). This Opening Balance Sheet is the responsibility
of the company’s management. It has been prepared as part of Exploration Resources
conversion to IFRS. Our responsibility is to express an opinion on this Opening Balance
Sheet based on our audit.
	 
	 	 	We conducted our audit in accordance with International Standards on Auditing (ISA 800).
Those Standards require that we plan and perform the audit to obtain reasonable assurance
about whether the Opening Balance Sheet is free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the Opening
Balance Sheet. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall presentation of
the Opening Balance Sheet. We believe that our audit provides a reasonable basis for our
opinion.
	 
	 	 	In our opinion, except for the absence of a comprehensive explanatory footnotes on the
assets and liabilities balances, the Opening Balance Sheet as at 1 January 2005 has been
prepared, in

 

 

	 	 	all material respects, in accordance with the basis set out in Notes 1 to 3, which describes
how IFRS have been applied under IFRS 1, including the assumptions management has made about
the standards and interpretations published as at September 30, 2005, and the policies
expected to be adopted, when management prepares its first complete set of IFRS financial
statements as at 31 December 2005.
	 	 	Without further qualifying our opinion we draw attention to the fact that, under IFRS, only
a complete set of financial statements comprising a balance sheet, income statement,
statement of changes in equity, and cash flow statement, together with comparative financial
information and explanatory notes, can provide a fair presentation of the Company’s
financial position, results of operations and cash flows in accordance with IFRS. We also
draw attention to the fact that Notes 1 to 3 explain why there is a possibility that the
Opening Balance Sheet may require adjustments before constituting the final opening IFRS
balance sheet.
	 
	 	 	b. With respect to the period from January 1, 2005 to September 30, 2005, we have:
	 
	 	 	(1) read the unaudited consolidated balance sheet as of September 30, 2005 and the unaudited
consolidated statement of income for the nine months ended September 30, 2005 translated
into Euros as the reporting currency of CGG, in which currency the unaudited consolidated
statement of income is included under the column “Exploration Resources Group” in the
tabular presentation of the pro forma financial information of CGG (i.e. the “Unaudited
condensed pro forma consolidated financial information” of CGG) presented in the
International Offering Circular; and
	 
	 	 	(2) inquired of certain officials of Exploration Resources who have responsibility for
financial and accounting matters as to whether the unaudited consolidated balance sheet and
income statement referred to under b.(1) above have been prepared, in all material respects,
in accordance with the basis of preparation set out in Note “Financial statements used to
prepare the pro forma financial data” to the pro forma financial information of Compagnie
Générale de Géophysique (i.e. the “Unaudited condensed pro forma consolidated financial
information” of CGG) in the International Offering Circular which describes how IFRS have
been applied under IFRS 1, consistent with IFRS standards and interpretations as published
as at September 30, 2005.
	 
	 	 	Those officials stated that the unaudited consolidated financial balance sheet and statement
of income of Exploration Resources described in a.(1) above have been prepared, in all
material respects, in accordance with the basis of preparation set out in Note “Financial
statements used to prepare the pro forma financial data” to the pro forma financial
information of Compagnie Générale de Géophysique (i.e. the “Unaudited condensed pro forma
consolidated financial information” of CGG) in the International Offering Circular which
describes how IFRS have been applied under IFRS 1, consistent with IFRS standards and
interpretations as published as at September 30, 2005. We draw your attention to the fact
that there is a possibility that the opening balance sheet and interim financial statements
may require adjustment before constituting the final opening IFRS balance sheet and interim
financial statements. We make no representations regarding the nature or amounts of the
adjustments, if any, necessary for the unaudited consolidated financial information to
comply with IFRS as at December 31, 2005. Further, under IFRS, only a complete set of
financial statements comprising a balance sheet, income statement, statement of changes in
equity, and cash flow statement, together with comparative financial information and
explanatory notes, present fairly, in all material respects, the Company’s financial
position, results of operations and cash flows in accordance with IFRS.

 

 

4. For purposes of this letter, we have also read the items identified by you on the attached pages
of the International Offering Circular and have performed the following procedures, which were
applied as indicated with respect to the symbols explained below:

	 	A 	 	Compared the Euros amounts to amounts in the unaudited consolidated balance sheet as
of September 30, 2005 and the unaudited consolidated statement of income for the nine
months ended September 30, 2005 and found such amounts to be in agreement after giving
effect to rounding if applicable.
	 
	 	B 	 	Read the unaudited pro forma consolidated balance sheet of Exploration Resources as
of December 31, 2004 and the unaudited pro forma statement of income of Exploration
Resources for the year ended December 31, 2004 and the translation of such pro forma
balance sheet and statement of income into Euros as the reporting currency as they are
included under the column “Exploration Resource Group pro forma” in the tables entitled
“Unaudited pro forma balance sheet as at December 31, 2004” and “Unaudited pro forma
statement of operations for the year ended December 31, 2004” respectively which are
included in the “Unaudited condensed pro forma consolidated financial information” of CGG
included in the International Offering Circular and inquired of certain officials of
Exploration Resources who have responsibility for financial and accounting matters as to
whether (i) all significant assumptions regarding the operations, assets and liabilities
of Exploration Resources prior to its inception as a separate stand alone company on
January 1, 2005 had been reflected in the pro forma adjustments and (ii) the pro forma
balance sheet and statement of income of Exploration Resources as of and for the year
ended December 31, 2004 have been prepared in compliance with the basis of preparation set
out in Note “Financial statements used to prepare the pro forma financial data” to the pro
forma financial information of Compagnie Générale de Géophysique (i.e. the “Unaudited
condensed pro forma consolidated financial information” of CGG) in the International
Offering Circular.
	 
	 	 	 	Those officials referred to above stated, in response to our inquiries, that (i) all
significant assumptions had been reflected in the pro forma adjustments so that the pro
forma balance sheet and statement of income of Exploration Resources as of and for the
year ended December 31, 2004 are properly compiled on the basis stated in the
International Offering Circular and (ii) that basis is consistent with the basis of
preparation set out in Note “Financial statements used to prepare the pro forma financial
data” to the pro forma financial information of Compagnie Générale de Géophysique (i.e.
the “Unaudited condensed pro forma consolidated financial information” of CGG) in the
International Offering Circular.
	 
	 	 	 	The pro forma balance sheet and statement of income of Exploration Resources as of and for
the year ended December 31, 2004 were not prepared and shall not be construed as prepared
in accordance with Article 11 of SEC Regulation S-X.
	 
	 	 	 	The foregoing procedures are less in scope than an examination, the objective of which is
the expression of an opinion on management’s assumptions, the pro forma adjustments, and
the application of those adjustments to historical financial information. Accordingly we
do not express such an opinion for purpose of the International Offering Circular and make
no representation about the sufficiency of the foregoing procedures for your purposes in
this comfort letter.

5. It should be understood that we have no responsibility for establishing (and did not establish)
the scope and nature of the procedures enumerated in paragraphs 2 through 4 above; rather, the
procedures enumerated therein are those that the requesting party asked us to perform. Accordingly,

 

 

we make no representations as to questions of legal interpretation or as to the sufficiency for
your purposes of the procedures enumerated in the preceding paragraphs; also such procedures would
not necessarily reveal any material misstatement of the information identified in the preceding
paragraphs as set forth in the International Offering Circular. Further, we have addressed
ourselves solely to the foregoing data and make no representations as to the adequacy of
disclosures or whether any material facts have been omitted. This letter relates only to the
financial statement items of Exploration Resources specified above and does not extend to any
financial statement of Exploration Resources taken as a whole.

6. The foregoing procedures do not constitute an audit conducted in accordance with generally
accepted auditing standards in Norway, International Standards on Auditing and/or the auditing
standards of the PCAOB. Had we performed additional procedures or had we conducted an audit or a
review of Exploration Resources condensed consolidated financial statements as of and for the nine
months ended September 30, 2005 in accordance with International Standards on Auditing, other
matters might have come to our attention that would have been reported to you.

7. These procedures should not be taken to supplant any additional inquiries or procedures that you
would undertake in your consideration of the proposed offering.

8. We make no representation as to whether the offering of the Shares will take place or the number
of the Shares to be sold in the offering.

9. This letter, including its attachment, is solely [for the information of Exploration Resources
and Compagnie Générale de Géophysique and] to assist the Managers in conducting and documenting
their investigation of the affairs of Compagnie Générale de Géophysique in connection with the
offering of the Shares covered by the International Offering Circular, and it is not to be used,
circulated, quoted, or otherwise referred to within or without the Managers group for any other
purpose, including but not limited to the registration, purchase, or sale of securities, nor is it
to be filed with or referred to in whole or in part in the International Offering Circular or any
other document, except that reference may be made to it in the [underwriting agreement] or in any
list of closing documents pertaining to the Offering of the Shares covered by the International
Offering Circular.

10. We have no responsibility to update this letter for events and circumstances occurring after
November 9, 2005.

Very truly yours,

 

 

Exhibit 6(d)

Form of Opinion and Negative Comfort Letter from Linklaters

 

 

Exhibit 6(e)

Form of Opinion from Internal Counsel for the CompanyEX-4.20

 

Exhibit 4.20

U.S.$165,000,000

Compagnie Générale de Géophysique

71/2% Senior Notes due 2015

PURCHASE AGREEMENT

27 January 2006

CREDIT SUISSE SECURITIES (EUROPE) LIMITED

BNP PARIBAS SECURITIES CORP.

c/o Credit Suisse Securities (Europe) Limited (“CS”)

One Cabot Square

London, England E14 4QJ

Dear Sirs:

	 	1.	 	Introductory.

             (a) Compagnie Générale de Géophysique (the “Company”), a société anonyme incorporated
under the laws of France and registered at the Evry Commercial Registry under Number B 969
202 241 (69B00224), proposes, subject to the terms and conditions stated herein, to issue and
sell to the initial purchasers named in Schedule A hereto (the “Purchasers”) U.S.$165,000,000
in aggregate principal amount of its 71/2% Senior Notes due 2015 (the “Notes” or “Securities”)
to be issued under the indenture, dated 28 April 2005 (the “Indenture”), among the Company,
the Guarantors (as defined below) and JPMorganChase Bank, National Association, as trustee
(the “Trustee”), such Notes representing a single series of securities with and having the
same terms and conditions as, the U.S.$165,000,000 aggregate principal amount of the 71/2%
Senior Notes due 2015 issued on 28 April 2002 (the “Initial Securities”).

             (b) The Securities may be sold by the Purchasers pursuant to Regulation S (“Regulation
S”) under the U.S. Securities Act of 1933, as amended (the “Securities Act”) to investors
outside of the United States of America and pursuant to Rule 144A (“Rule 144A”) under the
Securities Act to qualified institutional buyers in the United States of America.

             (c) Application has been made to list the Notes on the Euro MTF Market of the Luxembourg
Stock Exchange.

             The Company’s obligations under the Securities, including the due and punctual payment of
interest on the offered Securities, shall be unconditionally guaranteed pursuant to the Indenture
(each a “Guarantee", and collectively, the “Guarantees”) on a senior basis by each of the Company’s
subsidiaries indicated as Guarantors on Schedule B hereto (together, the “Guarantors”).

             The holders of the Securities will be entitled to the benefits of a Registration Rights
Agreement dated as of the date hereof among the Company and the Purchasers (the “Registration
Rights Agreement”) in substantially the form of Exhibit A hereto, pursuant to which the Company
agrees to file a registration

1

 

statement (the “Exchange Offer/Shelf Registration Statement”) with the United States
Securities and Exchange Commission (the “Commission”) registering the exchange of a new series of
71/2% Senior Notes due 2015 of the Company and the guarantees of the new series of 71/2% Senior Notes
due 2015 of the Company (such notes and guarantees of such notes, the “Exchange Securities”) for
the Securities and/or the resale of the Securities under the Securities Act.

             Capitalised terms not otherwise defined herein shall have the meaning ascribed to such terms
in the Indenture.

             The Company hereby agrees with the several Purchasers as follows:

2.      Representations and Warranties of the Company and Guarantors. The Company represents and
warrants to, and agrees with, and, to the extent applicable to the Guarantors and Guarantees, each
Guarantor represents and warrants to, and agrees with, the several Purchasers that as of the date
of this Agreement and the Closing Date (as defined below):

             (a) A preliminary offering circular dated 26 January 2006 and an offering circular dated
27 January 2006 relating to the Securities to be offered by the Purchasers have been prepared
by the Company. Such preliminary offering circular (the “Preliminary Offering Circular”) and
offering circular (the “Offering Circular”), in each case as supplemented from time to time
as of the date of this Agreement and as of the Closing Date (as defined herein), are
hereinafter collectively referred to as the “Offering Document”. The Preliminary Offering
Circular, as of its date, and the Offering Circular, as of the date of this Agreement and as
of the Closing Date, do not include any untrue statement of a material fact or omit to state
any material fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading. The information (the “Additional
Issuer Information”) required to be delivered to holders and prospective purchasers of the
Securities pursuant to the Indenture in accordance with Rule 144A(d)(4) under the Securities
Act does not include any untrue statement of a material fact or omit to state any material
fact necessary to make the statements therein, in the light of the circumstances under which
they were made, not misleading. The preceding two sentences do not apply to statements in or
omissions from the Offering Document made in reliance upon and in conformity with written
information furnished to the Company by the Purchasers through CS specifically for use
therein, it being understood and agreed that the only such information furnished by the
Purchasers consists of the following information in the Offering Document: the table entitled
“Initial Purchasers” under the caption “Plan of Distribution” and the second paragraph
thereafter under the caption “Plan of Distribution”.

             (b) The Company has been duly incorporated, is validly existing under the laws of
France, with full power and authority (corporate and other) to own and lease its properties
and conduct its business as described in the Offering Document; and the Company is lawfully
qualified to do business in all other jurisdictions in which its ownership or leasing of
property or the conduct of its business requires such qualification, except where the failure
to be so qualified would not individually or in the aggregate have a material adverse effect
on the condition (financial or otherwise), business, prospects or results of operations of
the Company and its subsidiaries taken as a whole (“Material Adverse Effect”).

             (c) Each subsidiary of the Company set forth on Schedule B hereto has been duly
organized and is validly existing under the laws of the jurisdiction of its organization,
with full power and authority (corporate and other) to own and lease its property and conduct
its business as described in the Offering Document; and each such subsidiary of the Company
is lawfully qualified to do business in all other jurisdictions in which its ownership or
leasing of property or the conduct of its business requires such qualification except where
the failure to be so qualified would not individually or in the aggregate have a Material
Adverse Effect; all of the issued and outstanding capital stock of the Company and each such
subsidiary of the Company has been duly authorized and validly issued under the laws of the
jurisdiction of its incorporation and is fully paid and non-assessable; and except as shown
on Schedule

2

 

B hereto, the capital stock of each such subsidiary of the Company is owned, directly or
through subsidiaries, by the Company, free from liens, encumbrances and defects. Schedule B
hereto sets forth a complete list of each subsidiary (excluding dormant or insignificant
subsidiaries) with the relevant jurisdiction of incorporation or organization, the Company’s
direct and indirect ownership thereof and whether such subsidiary is a Guarantor.

             (d) The Company had the power and authority (corporate and other) to enter into the
Indenture, as of its date, and has the power and authority (corporate and other) to enter
into the Securities, the Registration Rights Agreement, the Exchange Securities and this
Agreement and any documents entered into in connection therewith, in each case to which it is
a party.

             (e) Each Guarantor had the power and authority (corporate and other) to enter into the
Indenture, as of its date, respectively, and has the power and authority (corporate and
other) to enter into Indenture, the Guarantees, the Registration Rights Agreement, the
Exchange Securities and this Agreement and any documents entered into in connection
therewith, in each case to which it is a party.

             (f) The Indenture has been duly authorized by the Company and by each Guarantor, the
Securities have been duly authorized by the Company, when the Securities are delivered and
paid for pursuant to this Agreement on the Closing Date (as defined below), the Indenture
will have been duly executed and delivered, such Securities will have been duly executed,
authenticated, issued and delivered and will conform to the description thereof contained in
the Offering Document, and (assuming due authorization, execution and delivery by the
Trustee) the Indenture and such Securities will constitute valid and legally binding
obligations of the Company and each Guarantor, enforceable in accordance with their terms,
subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and
similar laws of general applicability from time to time in effect relating to or affecting
creditors’ rights and to general principles of equity.

             (g) The Indenture has been duly qualified under the United States Trust Indenture Act of
1939, as amended (the “TIA”), and conforms in all material respects to the requirements of
the TIA and the rules and regulations of the Commission applicable to an indenture that is
qualified thereunder.

             (h) Each Guarantee to be endorsed on the Securities by each of the Guarantors has been
duly authorized by such Guarantor and, on the Closing Date, will have been duly executed and
delivered by each such Guarantor and will conform in all material respects to the description
thereof contained in the Offering Document; when the Securities have been issued, executed
and authenticated in accordance with the Indenture and delivered to and paid for by the
Purchasers in accordance with the terms of this Agreement, the Guarantee of each Guarantor
endorsed thereon (assuming due authentication of the Securities by the Trustee) will
constitute valid and legally binding obligations of such Guarantor, enforceable against such
Guarantor in accordance with their terms, subject to bankruptcy, insolvency, fraudulent
transfer, reorganization, moratorium and similar laws of general applicability from time to
time in effect relating to or affecting creditors’ rights and to general equity principles.

             (i) The Registration Rights Agreement has been duly authorized, and on the Closing Date
the Registration Rights Agreement will have been duly executed and delivered, will conform to
the description thereof contained in the Offering Document and (assuming due authorization,
execution and delivery by the Purchasers) will constitute a valid and legally binding
obligation of the Company and each Guarantor, enforceable against each of them in accordance
with its terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of general applicability from time to time in effect relating to
or affecting creditors’ rights and to general principles of equity.

             (j) The Exchange Securities have been duly authorized and, when the Exchange Securities
have been delivered in exchange for the Securities in accordance with the terms of the
exchange offer provided for in the Registration Rights Agreement, such Exchange Securities
will have been duly

3

 

executed, authenticated, issued and delivered and will conform to the description
thereof contained in the Offering Document, and such the Exchange Securities will (assuming
due authentication thereof by the Trustee) constitute valid and legally binding obligations
of the Company and the Guarantors, enforceable against each of them in accordance with their
terms, subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of general applicability relating to or affecting creditors’
rights and to general equity.

             (k) The guarantee to be endorsed on the Exchange Securities by each Guarantor has been
duly authorized by such Guarantor and, when issued, will have been duly executed and
delivered by each such Guarantor; and when the Exchange Securities have been issued, executed
and authenticated in accordance with the terms of the Exchange Offer and the Indenture, the
guarantee of each Guarantor endorsed thereon will constitute valid and legally binding
obligations of such Guarantor, enforceable against such Guarantor in accordance with their
terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and
similar laws relating to or affecting creditors’ rights generally and to general equity
principles.

             (l) Neither the Company nor any of its subsidiaries is a party to any contract,
agreement or understanding with any person that would give rise to a valid claim against the
Purchasers for a brokerage commission, finder’s fee or like payment in connection with the
offer and sale of the Securities, other than the fees payable to the Purchasers in connection
with the offer and sale of the Securities.

             (m) No consent, approval, authorization, or order of, or filing with, any governmental
agency or body or any court is required for the consummation of the transactions contemplated
by this Agreement, the Indenture or the Registration Rights Agreement, in connection with the
issuance and sale of the Securities or the issuance and exchange of the Exchange Securities
for the Securities, except, in each case, such as have been or, prior to the Closing Date,
will be obtained, and other than such as may be required under US state securities or “Blue
Sky” laws and the receipt by the Company of an order from the Commission declaring the
Exchange Offer/Shelf Registration Statement effective.

             (n) None of the Company or any subsidiary of the Company is (i) in violation of its
respective articles of association, charter, by-laws or other constitutive documents, (ii) in
default, and no event has occurred which, with notice or lapse of time or both, would
constitute a default, in the due performance or observance of any term, covenant or condition
contained in any indenture, mortgage, deed of trust, loan agreement or other agreement or
instrument to which it is a party or by which it is bound or to which any of its property or
assets is subject except for such default or event which would not, individually or in the
aggregate, have a Material Adverse Effect or (iii) in violation of any law, ordinance,
governmental rule, regulation or court decree to which it or its property assets may be
subject for such default or event which would not, individually or in the aggregate, have a
Material Adverse Effect.

             (o) Except as disclosed in the Offering Document, under current laws and regulations of
France, Luxembourg and the United States (each, a “Relevant Jurisdiction”, and collectively,
the “Relevant Jurisdictions”) and any political subdivisions and taxing authorities thereof
or therein, all interest, principal, premium, if any, and other payments due or made on the
Securities and the Exchange Securities may be paid by the Company to the holders thereof in
U.S. Dollars that may be converted into foreign currency and freely transferred out of each
of the Relevant Jurisdictions and all such payments made to holders thereof who are
non-residents of the Relevant Jurisdictions will not be subject to income, withholding or
other taxes under laws and regulations of any of the Relevant Jurisdictions for tax purposes
or any political subdivision or taxing authority thereof or therein (provided that this
clause does not apply to any tax of whatever nature that may be imposed by a relevant
jurisdiction as a result of Securities or Exchange Securities being held through a permanent
establishment, an agent or a fixed base situated in such relevant jurisdiction) and any tax
that may be

4

 

imposed by a Relevant Jurisdiction pursuant to the Directive 2003/48/CE on the taxation
of savings income and without the necessity of obtaining any governmental authorization in
any of the Relevant Jurisdictions or any political subdivision or taxing authority thereof or
therein, provided in the case of the United States that either (i) the payments are made to a
“clearing organization” within the meaning of U.S. Treasury Regulation Section
1.6049-4(c)(1)(ii)(M), or (ii) the holder has provided the Company or the relevant paying
agent with an applicable Form W-8.

             (p) No capital, transfer, stamp duty, stamp duty reserve or other documentary, issuance
or transfer taxes or duties (other than, in the case of France, timbres de dimension, the
amount of which is nominal and the non-payment of which does not affect the validity of this
Agreement) are payable by or on behalf of the Purchasers in any Relevant Jurisdiction, or any
political sub-division or taxing authority thereof or therein on (i) the creation, issue or
delivery by the Company of the Securities pursuant hereto or the sale thereof, (ii) the
creation, issue or delivery by the Company of the Exchange Securities or the exchange of the
Securities therefor, (iii) the execution of the Indenture, the Registration Rights Agreement,
this Agreement and any documents entered into in connection therewith, or (iv) the
consummation of the transactions contemplated by this Agreement.

             (q) The execution, delivery and performance of the Indenture, the Guarantees, this
Agreement, the Registration Rights Agreement, and the issuance and sale of the Securities and
the issuance and exchange of the Exchange Securities for the Securities and compliance with
the terms and provisions hereof and thereof will not result in a breach or violation of any
of the terms and provisions of, or constitute a default under, (i) any statute, rule,
regulation or order of any governmental agency or body or any court, domestic or foreign,
having jurisdiction over the Company or any subsidiary of the Company, or any of their
respective properties except for any such breach or violation which would not, individually
or in the aggregate, have a Material Adverse Effect, or (ii) any agreement or instrument to
which the Company or any such subsidiary is a party or by which the Company or any such
subsidiary is bound or to which any of the properties of the Company or any such subsidiary
is subject except for any such breach or violation which would not, individually or in the
aggregate, have a Material Adverse Effect, or (iii) the charter or by-laws of the Company or
any such subsidiary.

             (r) This Agreement has been duly authorized, executed and delivered by the Company and
constitutes valid and legally binding obligations of the Company, enforceable in accordance
with its terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of general applicability from time to time in effect relating to
or affecting creditors’ rights and to general principles of equity and except in connection
with rights to indemnification and contribution thereunder that may be limited by federal or
state securities laws or public policy relating thereto.

             (s) Except as disclosed in the Offering Document, the Company and its subsidiaries have
good and marketable title to all real properties and all other properties and assets owned by
them, in each case free from liens, encumbrances and defects that would materially affect the
value thereof or materially interfere with the use made or to be made thereof by them; and
except as disclosed in the Offering Document, the Company and its subsidiaries hold any
leased real or personal property under valid and enforceable leases with no exceptions that
would materially interfere with the use made or to be made thereof by them.

             (t) Neither the Company nor any of its subsidiaries has taken any action nor, so far as
the Company is aware, have any steps been taken or legal proceedings been started or
threatened against it or any of its subsidiaries for winding-up, dissolution or
reorganization, or for the appointment of a receiver, administrative receiver, or
administrator, trustee or similar officer of it or any of its subsidiaries or any assets of
it or any of its subsidiaries.

             (u) The Company and its subsidiaries possess adequate certificates, licenses,
authorities or permits issued by appropriate governmental agencies or bodies necessary to
conduct the business now

5

 

operated by them except where the failure to do so would not, individually or in the
aggregate, have a Material Adverse Effect and have not received any notice of proceedings
relating to the revocation or modification of any such certificate, authority or permit that,
if determined adversely to the Company or any of its subsidiaries, which would, individually
or in the aggregate, have a Material Adverse Effect.

             (v) No labour dispute with the employees of the Company or any subsidiary of the Company
exists or, to the knowledge of the Company, is imminent that might have a Material Adverse
Effect.

             (w) The Company and its subsidiaries own, possess or can acquire on reasonable terms,
adequate trademarks, trade names and other rights to inventions, know-how, patents,
copyrights, confidential information and other intellectual property (collectively,
“intellectual property rights”) necessary to conduct the business now operated by them, or
presently employed by them, and have not received any notice of infringement of or conflict
with asserted rights of others with respect to any intellectual property rights that, if
determined adversely to the Company or any of its subsidiaries, would individually or in the
aggregate have a Material Adverse Effect.

             (x) Neither the Company nor any of its subsidiaries (i) is in violation of any statute,
rule, regulation, decision or order of any governmental agency or body or any court, domestic
or foreign, relating to the use, disposal or release of hazardous or toxic substances or
relating to the protection or restoration of the environment or human exposure to hazardous
or toxic substances (collectively, “environmental laws”), (ii) owns or operates any real
property contaminated with any substance that is subject to any environmental laws, (iii) is
liable for any off-site disposal or contamination pursuant to any environmental laws or (iv)
is subject to any claim relating to any environmental laws, which violation, contamination,
liability or claim would individually or in the aggregate have a Material Adverse Effect; and
the Company is not aware of any pending investigation which might lead to such a claim.

             (y) Except as described in the Offering Document, there are no pending actions, suits or
proceedings against or affecting the Company, any of its subsidiaries or any of their
respective properties that, if determined adversely to the Company or any of its
subsidiaries, would individually or in the aggregate have a Material Adverse Effect, or would
materially and adversely affect the ability of the Company to perform its obligations under
the Indenture, this Agreement or the Registration Rights Agreement or which are otherwise
material in the context of the sale of the Securities or the exchange of the Exchange
Securities for the Securities; and no such actions, suits or proceedings are, to the
Company’s knowledge, threatened or contemplated.

             (z) The consolidated annual financial statements and the related notes of the Company
included in the Offering Document present fairly the financial position of the Company and
its consolidated subsidiaries as of the dates shown and their results of operations and cash
flows for the periods shown, and such financial statements have been prepared in conformity
with generally accepted accounting principles in France (“French GAAP”), applied on a
consistent basis.

             (aa) The consolidated annual financial statements and consolidated interim financial
statements and the related notes of Exploration Resources ASA (“Exploration Resources”)
included in the Offering Document present fairly the financial position of Exploration
Resources and its consolidated subsidiaries as of the dates shown and their results of
operations and cash flows for the periods shown, respectively, and such financial statements
have been prepared in conformity with generally accepted accounting principles in the United
States (“U.S. GAAP”), applied on a consistent basis.

             (bb) The reconciliation of the Company’s financial statements referred to in paragraph
(z) above as reconciled with U.S. GAAP and filed on Form 20-F/A comply with the requirements
of Form 20-F.

6

 

             (cc) The consolidated annual and consolidated interim financial statements and the
related notes of the Company included in the Offering Document present fairly the financial
position of the Company and its consolidated subsidiaries as of the dates shown and their
results of operations and cash flows for the periods shown, respectively, and such financial
statements have been prepared in conformity with the accounting principles established by the
International Financial Reporting Standards (“IFRS”), applied on a consistent basis.

             (dd) The reconciliation to IFRS of the Company’s financial information included in Note
10 to the Company’s consolidated interim financial statements and included in the Offering
Document complies with the applicable requirements and standards of IFRS.

             (ee) The information set forth in the Offering Document in Note 10 to the Company’s
consolidated interim financial statements under the heading “Reconciliation for the Period
Ended September 30, 2004 French GAAP —IFRS,” Note 11 to the Company’s consolidated interim
financial statements under the heading “Reconciliation to U.S. GAAP,” Note 28(A) to the
Company’s annual consolidated financial statements under the heading “Summary of Differences
Between Accounting Principles followed by the Group and U.S. GAAP,” and in “Transition to
International Financial Reporting Standards” attached as Annex A to the Offering Document
includes a fair summary, in all material respects, of the differences, as they relate to the
Company’s consolidated financial statements, between French GAAP and IFRS and French GAAP and
U.S. GAAP, respectively, for the periods indicated.

             (ff) Except as disclosed in the Offering Document, since the date of the latest audited
financial statements included in the Offering Document, there has been no material adverse
change, nor any development or event involving a prospective material loss or adverse change,
in the condition (financial or other), business, prospects, properties or results of
operations of the Company and its subsidiaries taken as a whole, and, except as disclosed in
or contemplated by the Offering Document, there has been no dividend or distribution of any
kind declared, paid or made by the Company on any class of its capital stock, nor since the
date of the latest audited financial statements included in the Offering Document has there
been any material loss or interference with the business of the Company and its subsidiaries
from fire, explosion, flood or other calamity, whether or not covered by insurance, or from
any labor dispute or court or governmental action, order or decree, otherwise than as set
forth or contemplated in the Offering Document.

             (gg) The Company is subject to the reporting requirements of either Section 13 or
Section 15(d) of the U.S. Securities Exchange Act of 1934 (the “Exchange Act”), and files
reports with the Commission on the Electronic Data Gathering, Analysis, and Retrieval (EDGAR)
system.

             (hh) The Company is not an open-end investment company, unit investment trust or
face-amount certificate company that is or is required to be registered under Section 8 of
the United States Investment Company Act of 1940 (the “Investment Company Act”); and the
Company is not and, after giving effect to the offering and sale of the Securities and the
application of the proceeds thereof as described in the Offering Document, will not be an
“investment company” as defined in the Investment Company Act.

             (ii) Except as described in the Offering Document, neither the Company, nor any of its
subsidiaries is currently or has reason or notice to believe that it will be in the future a
party to, or directly or indirectly concerned in, an agreement, arrangement, understanding or
practice (whether or not legally binding) which may (i) contravene any treaty, regulation or
directive of the European Community relating to competition or restraint of trade, or any
competition or restraint of trade laws of any other jurisdiction, (ii) be registrable,
unenforceable or void or rendering the Company, its subsidiaries or any of their respective
officers, directors or employees liable to administrative, civil or criminal proceedings
under any competition legislation, or restraint of trade regulation or similar

7

 

legislation, or (iii) be the subject of any investigation by an competent authority in
respect of any provision of any competition legislation, or restraint of trade regulation or
similar legislation in any jurisdiction. Neither the Company nor any of its subsidiaries is
currently, or has reason to believe that it will be, engaged in (whether on its own or
jointly with any other person) any conduct which amounts to the abuse of a dominant position
in a market which may affect competition within the European Union or any part of it.

             (jj) No event of default exists under any contract, indenture, mortgage, loan,
agreement, note, lease or other agreement or instrument constituting “Indebtedness” (as
defined in the Indenture) that either singly or in the aggregate could result in or is
capable of resulting in a Material Adverse Effect.

             (kk) No securities of the same class (within the meaning of Rule 144A(d)(3) under the
Securities Act) as the Securities are listed on any national securities exchange registered
under Section 6 of the Exchange Act, or quoted in a U.S. automated inter-dealer quotation
system.

             (ll) Assuming the accuracy of the representations and warranties of the Purchasers in
this Agreement, the offer and sale of the Securities in the manner contemplated by this
Agreement will be exempt from the registration requirements of the Securities Act by reason
of Section 4(2) thereof, Rule 144A (“Rule 144A”) thereunder and Regulation S thereunder
(“Regulation S”).

             (mm) Neither the Company nor any of its respective affiliates, nor any person acting on
its or their behalf (i) has, within the six-month period prior to the date hereof, offered or
sold, directly or indirectly, in the United States or to any U.S. person (as such terms are
defined in Regulation S under the Securities Act) the Securities or any security of the same
class or series as the Securities, or (ii) has offered or will offer or sell the Securities
(A) in the United States by means of any form of general solicitation or general advertising
within the meaning of Rule 502(c) under the Securities Act or (B) with respect to any such
securities sold in reliance on Rule 903 of Regulation S under the Securities Act, by means of
any directed selling efforts within the meaning of Rule 902(c) of Regulation S. The Company,
its affiliates and any person acting on its or their behalf have complied and will comply
with the offering restrictions requirement of Regulation S. The Company has not entered and
will not enter into any contractual arrangement with respect to the distribution of the
Securities except for this Agreement.

             (nn) The net proceeds of the sale of the Securities will be applied in the manner
described under the “Use of Proceeds” section in the Offering Document.

             (oo) No “nationally recognized statistical rating organization” as such term is defined
for purposes of Rule 436(g)(2) under the Securities Act (i) has imposed (or has informed the
Company or any Guarantor that it is considering imposing) any condition (financial or
otherwise) on the Company’s or any Guarantor’s retaining any rating assigned to the Company
or any Guarantor, any securities of the Company or, (ii) has indicated to the Company that it
is considering (a) the downgrading, suspension, or withdrawal of, or any review for a
possible change that does not indicate the direction of the possible change in, any rating so
assigned or (b) any change in the outlook for any rating of the Company or any Guarantor or
any securities of the Company or any Guarantor.

             (pp) Application has been made to list the Securities on the Euro MTF Market of the
Luxembourg Stock Exchange.

             (qq) The Company and its subsidiaries maintain a system of internal accounting controls
sufficient to provide reasonable assurance that (i) transactions are executed in accordance
with management’s general or specific authorizations; (ii) transactions are recorded as
necessary to permit preparation of financial statements in conformity with French GAAP and/or
IFRS, as applicable, and to maintain asset accountability; (iii) access to assets is
permitted only in accordance with management’s

8

 

general or specific authorization; and (iv) the recorded accountability for assets is
compared with the existing assets at reasonable intervals and appropriate action is taken
with respect to any differences, except, in each case, with regard to matters set forth in
the Offering Document.

             (rr) Neither the Company nor any of its subsidiaries, and none of their respective
properties or assets, has any immunity from the jurisdiction of any court or from any legal
process (whether through service or notice, attachment prior to judgment, attachment in aid
of execution, executing or otherwise) under the laws of any jurisdiction in which it has been
incorporated or in which any of its property or assets are held.

             (ss) To ensure the legality, validity, enforceability and admissibility into evidence of
each of this Agreement, the Indenture, the Securities, the Guarantees, the Exchange
Securities, the Registration Rights Agreement or any other document to be furnished hereunder
or thereunder in any of the Relevant Jurisdictions, it is not necessary that any of this
Agreement, the Indenture, the Securities, the Guarantees, the Exchange Securities, the
Registration Rights Agreement or such other document be filed or recorded with any court or
any other authority in any of the Relevant Jurisdictions or that any stamp or similar tax
(other than, in the case of France, timbres de dimension) be paid in the Relevant
Jurisdictions on or in respect of any of this Agreement, the Indenture, the Securities, the
Guarantees, the Exchange Securities, the Registration Rights Agreement or any such other
document.

             (tt) The Company (immediately after and giving effect to the issuance of the Securities)
will be Solvent. As used in this paragraph, the term “Solvent” means, with respect to the
Company and to a particular date, that on such date (a) the present value of the Company’s
assets is not less than the Company’s liabilities, each as calculated in accordance with
French GAAP; (b) assuming the sale of the Securities as contemplated by this Agreement and
the Offering Document, the Company should be able to pay its respective debts as they become
absolute and mature; and (c) the capital remaining in the Company would not be unreasonably
small for the business in which the Company is engaged after giving due consideration to the
prevailing practice in the industry in which such entity is engaged. In computing the amount
of contingent liabilities at any time, it is intended that such liabilities will be computed
at the amount that, in light of all the facts and circumstances existing at such time,
represents the amount that is likely to become an actual or matured liability.

             (uu) Except as disclosed in the Offering Document, no subsidiary of the Company is
currently prohibited, directly or indirectly, under any agreement or other instrument to
which it is a party or is subject, from paying any dividends to the Company, from making any
other distribution on shares of such subsidiary’s capital stock, from repaying to the Company
any loans or advances to such subsidiary from the Company or from transferring any of such
subsidiary’s properties or assets to the Company or any other subsidiary of the Company.

             (vv) The Company has not distributed and, prior to the later to occur of (i) the Closing
Date and (ii) the completion of the distribution of the Securities, will not distribute any
material referring to the offering and sale of the Securities other than the Offering
Document or other materials, if any, permitted by the Securities Act and the Financial
Services and Markets Act 2000 (“FSMA”) (or regulations promulgated pursuant to the Securities
Act or FSMA).

             (ww) In connection with the distribution of the Securities, (i) the Company has not
offered or sold, and will not offer or sell, directly or indirectly, any Securities to the
public in France, (ii) offers and sales of Securities in France will be made only to
qualified investors in accordance with Articles L.411-2 and D.411-1 of the French Code
monétaire et financier, and (iii) the Company has not distributed or caused to be distributed
and will not distribute or cause to be distributed in France, the Preliminary Offering
Circular or the Offering Circular or any other offering material relating to the Securities
other than to investors to whom offers and sales of Securities in France may be made as
described above.

9

 

             (xx) Mazars & Guérard and Barbier Frinault & Autres Ernst & Young Audit, who have
certified certain financial statements of the Company and its consolidated subsidiaries for
each of the years ended 31 December 2003 and 31 December 2004, and Barbier Frinault & Autres
and Ernst & Young Audit, who have certified certain financial statements of the Company and
its consolidated subsidiaries for the year ended 31 December 2002 and have delivered their
reports in respect of the financial statements of the Company and its consolidated
subsidiaries for each such year with respect to the audited consolidated financial statements
and schedules included in the Offering Document, are, and have been in all such periods for
which such financial statements are so included, independent auditors with respect to the
Company in accordance with French GAAP and are independent registered public accountants
within the meaning of the Securities Act and the rules and regulations promulgated
thereunder.

             (yy) Ernst & Young AS who have certified certain financial statements of Exploration
Resources for the year ended December 31, 2004 and have delivered their reports in respect of
the financial statements of Exploration Resources for such year with respect to the audited
consolidated financial statements and schedules included in the Offering Document, are, and
have been in all such periods for which such financial statements are so included,
independent auditors in accordance with U.S. GAAP and are independent registered public
accountants within the meaning of the Securities Act and the rules and regulations
promulgated thereunder.

             (zz) Neither the Company nor any of its subsidiaries has taken, directly or indirectly,
any action designed to or that could reasonably be expected to cause or result in any
stabilization or manipulation of the price of the Securities in violation of applicable law.
The Company has not taken any action or omitted to take any action (such as issuing any press
release relating to the Securities without an appropriate legend) which may result in the
loss by any of the Purchasers of the ability to rely on any stabilisation safe harbour
provided under FSMA. The Company has been informed of the guidance relating to stabilisation
provided by the Financial Services Authority, in particular in Section MAR 2 Annex 2G of the
Financial Services Authority Handbook.

             (aaa) The statistical, market-related, industry and similar data included in the
Offering Document is based on or derived from sources that, to the knowledge of the Company,
having made all reasonable inquiry, are reliable and accurate, and the disclosure of such
data in the Offering Document is not misleading in any material respect.

             (bbb) Each of the Company and the Company’s subsidiaries has filed all non-U.S., U.S.
federal, state and local tax returns that are required to be filed, or has requested
extensions thereof (except in any case in which the failure so to file would not have a
Material Adverse Effect) and, except as set forth in the Offering Document, has paid all
taxes required to be paid by it and any other assessment, fine or penalty levied against it,
to the extent that any of the foregoing is due and payable or made adequate reserve of
provision for, except for any such assessment, fine or penalty that is currently being
contested in good faith or as would not have a Material Adverse Effect.

             (ccc) The Company and its subsidiaries are insured by insurers of recognized financial
responsibility against such losses and risks and in such amounts as are prudent and customary
in the businesses in which they are engaged taking into account the Company and its
subsidiaries’ level of risk and the cost of insurance coverage; all policies of insurance and
fidelity or surety bonds insuring the Company or any of its subsidiaries or their respective
businesses, assets, employees, officers and directors are in full force and effect; the
Company and its subsidiaries are in compliance with the terms of such policies and
instruments; there are no claims by the Company or any of its subsidiaries under any such
policy or instrument as to which any insurance company is denying liability or defending
under a reservation of rights clause that will have a Material Adverse Effect on the Company
and its subsidiaries, taken as a whole; none of the Company nor any of its subsidiaries has
been refused any insurance coverage sought or applied for; and none of the Company nor any of
its subsidiaries has any

10

 

reason to believe as of the date of this Agreement that it will not be able to renew its
existing insurance coverage as and when such coverage expires or to obtain similar coverage
from similar insurers as may be necessary to continue its business at a cost that would not
have a Material Adverse Effect.

             (ddd) The Company has the power to submit and, pursuant to this Agreement, has legally,
validly, effectively and irrevocably submitted to the non-exclusive jurisdiction of the
Federal and state courts in the Borough of Manhattan in The City of New York, in connection
with any suit, action or proceeding arising out of or relating to this Agreement, and has the
power to designate, appoint and empower and, pursuant to this Agreement has legally, validly,
effectively and irrevocably designated, appointed and empowered an agent for service of
process in any suit, action or proceeding, as provided herein.

             (eee) No forward-looking statement (within the meaning of Section 27A of the Securities
Act and Section 21E of the Exchange Act) contained in the Offering Document has been made or
reaffirmed without a reasonable basis or has been disclosed other than as in good faith.

             (fff) The operations of the Company and its subsidiaries are and have been conducted at
all times in compliance with applicable financial record keeping and reporting requirements
relating to money laundering applicable to the Company and its subsidiaries and, so far as
the Company is aware, any related or similar statutes, rules, regulations or guidelines,
issued, administered or enforced by any governmental agency (collectively, the “Money
Laundering Laws”), and no action, suit or proceeding by or before any court or governmental
agency, authority or body or any arbitrator involving the Company or any of its subsidiaries
with respect to the Money Laundering Laws is pending or, to the knowledge of the Company,
threatened, and neither the Company nor any of its subsidiaries nor, to the knowledge of the
Company or any director, officer or employee of the Company or any of its subsidiaries has
(i) used any corporate funds for any unlawful contribution, gift, entertainment or other
unlawful expense relating to political activity, (ii) made any direct or indirect unlawful
payment to any foreign or domestic government official or employee from corporate funds,
(iii) caused the Company or any of its subsidiaries to be in violation of any provision of
the U.S. Foreign Corrupt Practices Act of 1977 or other national or local law regulating
payments to governmental officials or employees; or (iv) made any unlawful payment, except,
in each case, with regard to matters set forth in the Offering Document.

             (ggg) Neither the Company, nor any of its subsidiaries nor any of their respective
directors, officers, employees or affiliates, to the best of the Company’s knowledge after
due inquiry, is a person with whom transactions are currently prohibited under any U.S.
sanctions administered by the Office of Foreign Assets Control of the U.S. Department of
Treasury (“OFAC”) or equivalent European Union measure; the Company agrees that it will not
directly or indirectly use the proceeds of the Offering, or lend, contribute or otherwise
make available such proceeds to any person or entity, or any subsidiary, joint venture
partner or sub-division of such other person or entity, for the purpose of financing the
activities of any person with whom transactions are currently prohibited under any U.S.
sanctions administered by OFAC or any equivalent European Union measure.

             (hhh) At September 30, 2005, the Company would have had, on the combined consolidated
pro forma basis indicated in the Offering Document (and any amendment or supplement thereto),
a capitalization as set forth therein. The pro forma financial statements of the Company
included in the Offering Document (and any amendment or supplement thereto) have been
prepared in all material respects in accordance with the accounting requirements of Article
11 of Regulation S-X of the Commission; the assumptions used in the preparation of such pro
forma financial statements are, in the opinion of the management of the Company, reasonable;
and the pro forma adjustments reflected in such pro forma financial statements have been
properly applied to the historical amounts in compilation of such pro forma financial
statements. The financial statements are those required to be included and comply as to form
with the applicable accounting requirements of the Securities Exchange Act of 1934,

11

 

as amended, and the related rules and regulations adopted by the SEC as if the Offering
Document were a prospectus forming part of a registration statement on Form F-4 under the
Securities Act, except, that the unaudited financial statements of the Company in the
Preliminary Offering Circular do not contain information with respect to the subsidiary
guarantors as required by Rule 3-10 of Regulation S-X and, except, only in the case of, the
unaudited financial statements of Exploration Resources, where the failure to so comply would
not cause the Offering Document to include any untrue statement of a material fact or omit to
state any material fact necessary in order to make the statements therein, in the light of
the circumstances under which they were made, not misleading.

             3. Purchase, Sale and Delivery of Securities. On the basis of the representations, warranties
and agreements herein set forth, but subject to the terms and conditions herein contained, the
Company agrees to sell to the several Purchasers, and the several Purchasers agree, severally and
not jointly, to purchase from the Company, at a purchase price of 101.00% of the principal amount
thereof plus accrued interest (if any) from November 15, 2005 to the Closing Date (as hereinafter
defined), the respective principal amounts of Notes set forth opposite their names in Schedule A
hereto.

             The Company will deliver, against payment of the purchase price, the Notes to be offered and
sold by the Purchasers in reliance on Regulation S (the “Regulation S Notes”) in the form of one or
more permanent global Notes in registered form without interest coupons (the “Regulation S Global
Notes”) which will be deposited with the Trustee, in its capacity as custodian for the Depository
Trust Company (“DTC”), and registered in the name of Cede & Co., as nominee for DTC. The Company
will deliver against payment of the purchase price the Notes to be purchased by each Purchaser
hereunder and to be offered and sold by each Purchaser in reliance on Rule 144A under the
Securities Act (the “144A Notes”) in the form of one or more permanent global notes in registered
form without interest coupons (the “Restricted Global Notes”, along with the Regulation S Global
Notes, each a “Global Note”), which will be deposited with the Trustee as Custodian for DTC and
registered in the name of Cede & Co., as nominee for DTC. The Regulation S Global Notes and the
Restricted Global Notes shall be assigned separate CUSIP Numbers. The Restricted Global Notes
shall include the legend regarding restrictions on transfer set forth under “Transfer Restrictions”
in the Offering Document.

             Payment for the Regulation S Notes and the 144A Notes shall be made by the Purchasers in wire
transfer (same day) funds to an account of the Company or an account as the Company may direct at a
bank acceptable to the Purchasers at the office of Vinson & Elkins R.L.L.P., London at 10.00 A.M.
(London time), on 3 February 2006, or at such other time not later than five full business days
thereafter as the Purchasers and the Company shall mutually determine, such time being herein
referred to as the “Closing Date”, against delivery to the Trustee, as custodian for DTC, of (i)
the Regulation S Global Notes representing all of the Regulation S Notes and (ii) the Restricted
Global Notes representing all of the 144A Notes. The Regulation S Global Notes and the Restricted
Global Notes will be made available for checking at the office of Vinson & Elkins R.L.L.P. at least
24 hours prior to the Closing Date.

             In consideration of the agreement by the Purchasers to severally subscribe and pay for the
Notes as aforesaid, the Company shall pay to the Purchasers a combined management, underwriting and
selling commission of 2.25% of the principal amount of the Notes plus VAT (if applicable). The
Purchasers shall be entitled to deduct the said commission from the purchase price by way of
set-off.

             CS (the “Stabilising Agent”), on behalf of the Purchasers, may, to the extent permitted by
applicable law, over-allot and effect transactions in any over-the-counter market or otherwise, in
connection with the distribution of the Securities, with a view to stabilising or maintaining the
market price of the Securities at levels other than those which might prevail in the open market
but in doing so the Stabilising Agent shall act as principal and not as agent of the Company and
any loss resulting from over-allotment or stabilisation shall be borne, and any profit arising
therefrom shall be beneficially retained, by the Stabilising Agent. Nothing in this fifth
paragraph of Section 3 shall be construed so as to require the Company to issue in excess of
U.S.$165,000,000 million principal amount of Securities.

12

 

             As between the Company and the Purchasers, any loss resulting from stabilisation shall be
borne, and any profit arising therefrom shall be retained, by the Purchasers as set out in the
Agreement Among Purchasers.

	 	4.	 	Representations by Purchasers; Resale by Purchasers.

             (a) Each Purchaser severally represents and warrants to the Company and the Guarantors
that it has duly authorized, executed and delivered this Agreement and is an institutional
“accredited investor” within the meaning of Regulation D under the Securities Act.

             (b) Each Purchaser severally acknowledges that the Securities and the Guarantees have
not been registered under the Securities Act and may not be offered or sold within the United
States or to, or for the account or benefit of U.S. persons, except in accordance with
Regulation S or pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act. Each Purchaser severally represents and
agrees that it has offered and sold the Securities and will offer and sell the Securities (i)
as part of their distribution at any time and (ii) otherwise until 40 days after the later of
the commencement of the offering and the Closing Date, only in accordance with Rule 144A
(“Rule 144A”) or Rule 903 under the Securities Act. Accordingly, neither such Purchaser nor
its affiliates, nor any persons acting on its or their behalf, have engaged or will engage in
any directed selling efforts with respect to the Securities. Accordingly, neither such
Purchaser nor its affiliates, nor any persons acting on its or their behalf, have engaged or
will engage in any directed selling efforts with respect to the Securities, and such
Purchaser, its affiliates and all persons acting on its or their behalf have complied and
will comply with the offering restrictions requirement of Regulation S. Each Purchaser
severally agrees that, at or prior to confirmation of sale of the Securities, other than a
sale pursuant to Rule 144A, such Purchaser will have sent to each distributor, dealer or
person receiving a selling concession, fee or other remuneration that purchases the
Securities from it during the restricted period a confirmation or notice to substantially the
following effect:

“The Securities covered hereby have not been registered under the U.S.
Securities Act of 1933 (the “Securities Act”) and may not be offered or sold
within the United States or to, or for the account or benefit of, U.S. persons
(i) as part of their distribution at any time or (ii) otherwise until 40 days
after the later of the date of the commencement of the offering and the closing
date, except in either case in accordance with Regulation S (or Rule 144A if
available) under the Securities Act. Terms used above have the meanings given
to them by Regulation S.”

Terms used in this subsection (b) have the meanings given to them by Regulation S of the
Securities Act.

             (c) Each Purchaser severally agrees that it and each of its affiliates has not entered
and will not enter into any contractual arrangement with respect to the distribution of the
Securities except for any such arrangements with other Purchasers or affiliates of the other
Purchasers or with the prior written consent of the Company.

             (d) Each Purchaser severally agrees that neither it nor any of its affiliates nor any
person acting on its or their behalf will offer or sell the Securities in the United States
by means of any form of general solicitation or general advertising within the meaning of
Rule 502(c) under the Securities Act, including, but not limited to, (i) any advertisement,
article, notice or other communication published in any newspaper, magazine or similar media
or broadcast over television or radio or disseminated via the internet, or (ii) any seminar
or meeting whose attendees have been invited by any general solicitation or general
advertising. Each Purchaser severally agrees, with respect to resales made in reliance on
Rule 144A of any of the Securities, to deliver either with the confirmation of such resale or
otherwise prior to settlement of such resale a notice to the effect that the resale of such
Securities has been made in

13

 

reliance upon the exemption from the registration requirements of the Securities Act
provided by Rule 144A.

             (e) Each Purchaser severally represents, warrants and agrees that (i) it has only
communicated or caused to be communicated and will only communicate or cause to be
communicated any invitation or inducement to engage in investment activity (within the
meaning of section 21 of FSMA) received by it in connection with the issue or sale of any
Securities in circumstances in which section 21(1) of FSMA does not apply to the Company or
the Guarantors; and (ii) it has complied and will comply with all applicable provisions of
FSMA with respect to anything done by it in relation to the Securities in, from or otherwise
involving the United Kingdom.

             (f) In relation to each Member State of the European Economic Area which has
implemented the Prospectus Directive (each, a “Relevant Member State”), each Purchaser
represents, warrants and agrees that with effect from and including the date on which the
Prospectus Directive is implemented in that Relevant Member State (the “Relevant
Implementation Date”) it has not made and will not make an offer of Securities to the
public in that Relevant Member State prior to the publication of a prospectus in relation
to the securities which has been approved by the competent authority in that Relevant
Member State or, where appropriate, approved in another Relevant Member State and notified
to the competent authority in that Relevant Member State, all in accordance with the
Prospectus Directive, except that it may, with effect from and including the Relevant
Implementation Date, make an offer of Securities to the public in that Relevant Member
State at any time:

                   (i)       to legal entities which are authorised or regulated to operate in the financial
markets or, if not so authorised or regulated, whose corporate purpose is solely to invest
in securities;

                   (ii)       to any legal entity which has two or more of (1) an average of at least 250
employees during the last financial year; (2) a total balance sheet of more than
EUR43,000,000 and (3) an annual net turnover of more than EUR50,000,000, as shown in its
last annual or consolidated accounts;

                   (iii)       to fewer than 100 natural or legal persons (other than qualified investors as
defined in the Prospectus Directive) subject to obtaining the prior consent of CS for any
such offer; or

                   (iv)       in any other circumstances which do not require the publication by the Company of
a prospectus pursuant to Article 3 of the Prospectus Directive.

For the purposes of this provision, the expression an “offer of Securities to the public” in
relation to any securities in any Relevant Member State means the communication in any form
and by any means of sufficient information on the terms of the offer and the securities to be
offered so as to enable an investor to decide to purchase the securities, as the same may be
varied in that Member State by any measure implementing the Prospectus Directive in that
Member State and the expression “Prospectus Directive” means Directive 2003/71/EC and
includes any relevant implementing measure in each Relevant Member State.

             (g) Each Purchaser severally represents and agrees that it has complied and will
comply in all material respects with all applicable laws and regulations in each jurisdiction
in which it offers and distributes any offering materials relating to the offering or offers
or sells the Notes.

14

 

	 	5.	 	Certain Agreements of the Company. The Company agrees with the several Purchasers that:

             (a) If, at any time prior to the completion of the resale of the Securities by the
Purchasers, any event occurs as a result of which the Offering Document as then amended or
supplemented would include an untrue statement of a material fact or omit to state any
material fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading, or if it is necessary at any such
time to amend or supplement the Offering Document to comply with any applicable law, the
Company promptly will notify the Purchasers of such event and promptly will prepare, at its
own expense, an amendment or supplement which will correct such statement or omission or
effect such compliance. The Company will advise the Purchasers promptly of any proposal to
amend or supplement the Offering Document and will not effect such amendment or
supplementation without the Purchasers’ consent. Neither the Purchasers’ consent to, nor the
Purchasers’ delivery to offerees or investors of, any such amendment or supplement shall
constitute a waiver of any of the conditions set forth in Section 6.

             (b) The Company will furnish to the Purchasers copies of the Preliminary Offering
Circular, the Offering Circular and all amendments and supplements to such documents, in each
case as soon as available and in such quantities as the Purchasers reasonably request. At
any time when the Company is not subject to Section 13 or 15(d) of the Exchange Act and is
not exempt from reporting pursuant to Rule 12g3-2(b) under the Exchange Act, the Company will
promptly make available to the Purchasers and, upon request of holders and prospective
purchasers of the Securities, to such holders and purchasers, copies of the information
required to be delivered to holders and prospective purchasers of the Securities pursuant to
Rule 144A(d)(4) under the Securities Act (or any successor provision thereto) in order to
permit compliance with Rule 144A in connection with resales by such holders of the
Securities. The Company will pay the expenses of printing and distributing to the Purchasers
and any such holders or prospective purchasers all such documents.

             (c) The Company will arrange for the qualification of the Securities for sale and the
determination of their eligibility for investment under the laws of such jurisdictions in
Europe, the United States and Canada as the Purchasers reasonably designate and will continue
such qualifications in effect so long as required for the resale of the Securities by the
Purchasers, provided that the Company will not be required to qualify as a foreign
corporation or to file a general consent to service of process in any such jurisdiction.

             (d) During the period of two years after the Closing Date, the Company will, upon
request, furnish to the Purchasers and any holder of Securities a copy of the restrictions on
transfer applicable to the Securities.

             (e) In connection with the offering, until CS shall have notified the Company and the
other Purchasers of the completion of the resale of the Securities, neither the Company not
any of its affiliates has or will, either alone or with one or more other persons, bid for or
purchase for any account in which it or any of its affiliates has a beneficial interest any
Securities or attempt to induce any person to purchase any Offered Securities; and neither it
nor any of its affiliates will make bids or purchases for the purpose of creating actual, or
apparent, active trading in, or of raising the price of, the Securities. During the period
of two years after the Closing Date, the Company will not, and will not permit any of its
affiliates (as defined in Rule 144 under the Securities Act) to, resell any of the Securities
that have been reacquired by any of them, unless pursuant to a registration statement under
the Securities Act.

             (f) During the period of two years after the Closing Date, the Company will not be or
become an open-end investment company, unit investment trust or face-amount certificate
company that is or is required to be registered under Section 8 of the Investment Company
Act.

15

 

             (g) Prior to the Closing Date and for 40 days subsequent to the Closing Date, neither
the Company nor any of its subsidiaries will issue any press release or other communication
directly or indirectly or hold any press conference with respect to the issue of the
Securities, the Company or any of its subsidiaries, the condition, financial or otherwise
(except for routine communications in the ordinary course of business and consistent with
past practice, including the Company’s disclosure of results at and for the twelve months
ended December 31, 2005 and 2004), or the earnings, business affairs or business prospects of
the Company or any of its subsidiaries, without the prior consent of the Purchasers.

             (h) The Company agrees to pay all expenses (together with VAT, where applicable)
incidental to the performance of its obligations under this Agreement and the Indenture,
including, subject to receipt of sufficiently itemized accounts (i) the fees, disbursements
and expenses of the Company’s legal advisors; (ii) the fees, disbursements and expenses of
the Company’s accountants; (iii) the fees, disbursements and expenses of the Purchasers’
legal advisors, Vinson & Elkins RLLP and Bernard Hertz Bejot; (iv) the fees and expenses of
the Trustee or any paying agent and their respective professional advisors; (v) all expenses
in connection with the execution, issue, authentication, packaging and initial delivery of
the Securities and the Exchange Securities, the preparation and printing of this Agreement,
the Securities, the Indenture, the Registration Rights Agreement, the Preliminary Offering
Circular and the Offering Circular and amendments and supplements thereto, and any other
document relating to the issuance, offer, sale and delivery of the Securities and the
Exchange Securities; (vi) the cost of listing the Securities and the Exchange Securities and
qualifying the Securities and the Exchange Securities for trading on the Euro MTF Market of
the Luxembourg Stock Exchange and any expenses incidental thereto, including those of the
Luxembourg listing agent; (vii) the cost of qualifying the Securities and the Exchange
Securities for trading in The Portalsm Market (“PORTAL”) of the NASDAQ Stock
Market, Inc. and any expenses incidental thereto; (viii) the cost of any advertising approved
by the Company in connection with the issue of the Securities; (ix) any expenses (including
fees and disbursements of counsel) incurred in connection with qualification of the
Securities for sale under the laws of such jurisdictions in Europe, the United States and
Canada as the Purchasers designate and the printing of memoranda relating thereto; (x) any
fees charged by investment rating agencies for the rating of the Securities; and (xi)
expenses incurred in distributing the Preliminary Offering Circular and the Offering Circular
(including any amendments and supplements thereto) to the Purchasers. The Company agrees to
pay or reimburse the Purchasers (to the extent incurred by them) for all reasonable travel
expenses of the Purchasers and the Company’s officers and employees and any other reasonable
expenses of the Purchasers and the Company in connection with attending or hosting meetings
with prospective purchasers of the Securities from the Purchasers. If the sale of the
Securities provided for herein is not consummated because any condition to the obligations of
the Purchasers set forth in Section 7 hereof is not satisfied, because this Agreement is
terminated or because of any failure, refusal or inability on the part of the Company to
perform all obligations and satisfy all conditions on their part to be performed or satisfied
hereunder (other than solely by reason of a default by an Purchaser on its obligations
hereunder after all conditions hereunder have been satisfied in accordance herewith), the
Company agrees to promptly reimburse the Purchasers upon demand for all reasonable
out-of-pocket expenses (including reasonable fees, disbursements and charges of Vinson &
Elkins R.L.L.P. and Bernard Hertz Bejot, the Purchasers’ legal advisors) that shall have been
incurred by the Purchasers in connection with the proposed purchase and sale of the
Securities. The Company shall not be liable to the Purchasers for loss of contemplated
profits from the transactions covered by this Agreement. Other than as set forth in this
Section 5(h) each of the parties hereto shall bear all out-of-pocket costs and expenses
incurred by them.

             (i) In connection with the offering, until the Purchasers shall have notified the
Company of the completion of the resale of the Securities, neither the Company nor any of its
affiliates has or will, either alone or with one or more other persons, bid for or purchase
for any account in which it or any of its affiliates has a beneficial interest any Securities
or attempt to induce any person to purchase any

16

 

Securities; and neither they nor any of their affiliates will make bids or purchases for
the purpose of creating actual, or apparent, active trading in, or of raising the price of,
the Securities.

             (j) After the date of the initial offering of the Securities by the Purchasers and until
the day which is 90 days after the Closing Date, the Company will not offer, sell, contract
to sell, pledge or otherwise dispose of, directly or indirectly, or file with the Commission
a registration statement under the Securities Act relating to, any debt securities issued or
guaranteed by the Company and having a maturity of more than one year from the date of issue,
or any options or derivatives in respect of such debt securities, or publicly disclose the
intention to make any such offer, sale, pledge, disposition or filing, without the prior
written consent of the Purchasers; provided that this provision shall not prohibit the filing
of any registration statement to comply with the terms of the Registration Rights Agreement,
the issuance of the Exchange Securities, borrowings under the credit facilities existing on
the date hereof or secured financings of accounts receivables and inventory. The Company
will not at any time offer, sell, contract to sell, pledge or otherwise dispose of, directly
or indirectly, any securities under circumstances where such offer, sale, pledge, contract or
disposition would cause the exemption afforded by Rule 144A or the safe harbour of Regulation
S to cease to be applicable to the offer and sale of the Securities.

             (k) The Company will indemnify and hold harmless the Purchasers against any documentary,
stamp or similar issuance tax that may be imposed by the United States, Luxembourg or the
Republic of France (other than, in the case of France, the fixed registration duty and
timbres de dimension), including any interest and penalties, that may be payable by the
Purchasers on the creation, issuance and sale of the Securities and on the execution and
delivery of this Agreement. All payments to be made by the Company hereunder shall be made
without withholding or deduction for or on account of any present or future taxes, duties or
governmental charges whatsoever unless the Company is compelled by law to deduct or withhold
such taxes, duties or charges. In that event, the Company shall pay such additional amounts
as may be necessary in order that the net amounts received after such withholding or
deduction shall equal the amounts that would have been received if no withholding or
deduction had been made. If such withholding or deduction of tax is due, the Purchasers and
the Company shall promptly co-operate in completing any procedural formalities necessary for
the Company to avoid such withholding or deduction of tax. The Company will not be required
to pay such additional amounts to a Purchaser if the Company is able to demonstrate that the
payment of additional amounts could have been made to the Purchaser without a withholding or
deduction of tax had that Purchaser complied with its obligations to cooperate with the
Company.

             (l) The Company will use its reasonable best efforts to have the Securities and the
Exchange Securities admitted to trading on the Euro MTF Market of the Luxembourg Stock
Exchange and will maintain such listing as long as the Securities or the Exchange Securities
are outstanding; provided, however, that if the Company can no longer maintain such listing,
the Company will use all reasonable commercial efforts to obtain and maintain the listing of
the Notes and the Exchange Securities on another recognized stock exchange.

             (m) The Company shall take all reasonable action necessary to enable Standard & Poor’s
Ratings Services, a division of the McGraw Hill, Inc. (“S&P”), and Moody’s Investors Service
Inc. (“Moody’s”) to provide and/or confirm their respective credit ratings of the Securities.

             (n) The Company will cooperate with the Purchasers and use its reasonable best
endeavours to permit the Securities to be designated PORTAL securities in accordance with the
rules and regulations adopted by the National Association of Securities Dealers, Inc.
relating to trading in The Portal Market and to permit the Securities to be eligible for
clearance and settlement through DTC, including preparation and filing with DTC of a Letter
of Representations signed by the Company.

17

 

             (o) The Company will not, and will not cause its respective affiliates to, nor will the
Company authorize or knowingly permit any person acting on its behalf (excluding the
Purchasers, as to whom no agreement is made) to, solicit any offer to buy or sell the
Securities by means of any form of general solicitation or general advertising within the
meaning of Regulation D under the Securities Act or in any manner involving a public offering
within the meaning of Regulation D or in any manner involving a public offering within the
meaning of Section 4(2) of the Securities Act; and the Company will not offer, sell, contract
to sell or otherwise dispose of, directly or indirectly, any securities under circumstances
where such offer, sale, contract or disposition would cause the exemption afforded by Section
4(2) of the Securities Act or the safe harbour afforded by Regulation D thereunder to cease
to be applicable to the offering and sale of the Securities as contemplated by this Agreement
and the Offering Circular.

             (p) The Company undertakes that, since the provisions of the EU Directive 2003/48/EC
dated 3 June 2003 have been implemented with effect from July 1, 2005, it will use its best
endeavours to ensure that the Company maintains a paying agent in a European Union member
state that will not be obligated to withhold or deduct tax pursuant to such European Union
Directive on the taxation of savings income.

             (q) The Company will use its reasonable best endeavours to do and perform all things
required or necessary to be done and performed under this Agreement by it prior to the
Closing Date and to satisfy all conditions precedent to the delivery of the Securities.

             6.
 Conditions of the Obligations of the Purchasers. The obligations of the Purchasers to
purchase and pay for the Securities will be subject to the accuracy of the representations and
warranties on the part of the Company, to the accuracy of the statements of officers of the Company
made pursuant to the provisions hereof, to the performance by the Company of their obligations
hereunder, in each case, in all material respects, and to the following conditions precedent:

             (a) The Purchasers shall have received a comfort letter or letters, dated the date of
this Agreement, of Mazars & Guérard and Barbier Frinault & Autres Ernst & Young, on the one
hand, and Barbier Frinault & Autres and Ernst & Young Audit, on the other hand, in form and
substance satisfactory to the Purchasers concerning the financial information with respect to
the Company set forth in the Offering Document.

             (b) The Purchasers shall have received a comfort letter or letters, dated the date of
this Agreement, of Ernst & Young AS, in form and substance satisfactory to the Purchasers
concerning the financial information with respect to Exploration Resources set forth in the
Offering Document.

             (c) The Purchasers shall have received a comfort letter or letters, dated the date of
this Agreement, of Ernst & Young in form and substance satisfactory to the Purchasers
concerning the financial information with respect to Arabian Geophysical & Surveying Company
set forth in the Offering Document.

             (d) Subsequent to the execution and delivery of this Agreement, there shall not have
occurred (i) any change, or any development or event involving a prospective change, in the
condition (financial or other), business, properties or results of operations of the Company
and its subsidiaries taken as one enterprise which, in the judgment of the Purchasers, is
material and adverse and makes it impractical or inadvisable to proceed with completion of
the offering or the sale of and payment for the Securities; (ii) any downgrading in the
rating of any debt securities of the Company by any “nationally recognized statistical rating
organization” (as defined for purposes of Rule 436(g) under the Securities Act), or any
public announcement or any indication given to the Company that any such organization has
under surveillance or review its rating of any debt securities of the Company (other than an
announcement with positive implications of a possible upgrading, and no implication of a
possible downgrading, of

18

 

such rating) or any announcement that the Company has been placed on negative outlook;
(iii) any change in U.S., French, international, financial, political or economic conditions
or currency exchange rates or exchange controls as would, in the judgment of the Purchasers,
be likely to prejudice materially the success of the proposed issue, sale or distribution of
the Securities, whether in the primary market or in respect of dealings in the secondary
market; (iv) any material suspension or material limitation of trading in securities
generally on the New York Stock Exchange, the Luxembourg Stock Exchange or the Eurolist by
Euronext Paris or any setting of minimum prices for trading on any such exchange, or any
suspension of trading of any securities of the Company on any exchange or in the
over-the-counter market; (v) any banking moratorium declared by U.S. Federal, New York,
European Union, English or French authorities; (vi) any major disruption of settlements of
securities or clearance services in the United States, the European Union, the United Kingdom
or France; (vii) any attack on, outbreak or escalation of hostilities, declaration of war or
act of terrorism involving the United States, the European Union, the United Kingdom or
France, or any other national or international calamity or emergency if, in the judgment of
the Purchasers, the effect of any such attack, outbreak, escalation, act, declaration,
calamity or emergency makes it impractical or inadvisable to proceed with completion of the
offering or sale of and payment for the Securities.

             (e) The Purchasers shall have received an opinion, dated the Closing Date, of
Linklaters, counsel for the Company, covering substantially the items set forth in Exhibit A
hereto. The Company shall have furnished to such counsel such documents as they request for
the purpose of enabling them to pass upon such matters.

             (f) The Purchasers shall have received opinions, dated the Closing Date, from local
counsel for the Company, from local counsel in each of the countries of incorporation of the
Guarantors with respect to the valid existence, power and authority, due authorization of the
Guarantors and other related matters as the Purchasers may require, in each case satisfactory
to the Purchasers. The Company shall have furnished to such counsel such documents as they
request for the purpose of enabling them to pass upon such matters.

             (g) The Purchasers shall have received from Vinson & Elkins R.L.L.P., U.S. counsel for
the Purchaser, such opinion or opinions, dated the Closing Date, with respect to the validity
of the Securities, the Offering Circular, the exemption from registration for the offer and
sale of the Securities by the Company to the Purchasers and the resales by the Purchasers as
contemplated hereby and other related matters as the Purchasers may require, in each case
satisfactory to the Purchasers. The Company shall have furnished to such counsel such
documents as they request for the purpose of enabling them to pass upon such matters.

             (h) The Purchasers shall have received certificates, dated the Closing Date, of the
principal executive officer and the principal financial or accounting officer of the Company,
in which such officers shall state that the representations and warranties of the Company in
this Agreement are true and correct, certify as to the outstanding Net debt and Shareholders’
equity (as such terms are described in the Offering Document) as of a date that is reasonably
acceptable to the Purchasers, that the Company has complied with all agreements and satisfied
all conditions on its part to be performed or satisfied hereunder at or prior to the Closing
Date, and that, subsequent to the respective dates of the most recent financial statements in
the Offering Document there has been no material adverse change, nor any development or event
involving a prospective material adverse change, in the condition (financial or other),
business, prospects, properties or results of operations of the Company and its subsidiaries
taken as a whole except as set forth in the Offering Document.

             (i) The Purchasers shall have received a comfort letter or letters, dated the Closing
Date, of Mazars & Guérard and Barbier Frinault & Autres Ernst & Young on the one hand and
Barbier Frinault & Autres and Ernst & Young Audit on the other hand which meets the
requirements of subsection (a) of this Section.

19

 

             (j) The Purchasers shall have received a comfort letter or letters, dated the Closing
Date, of Ernst & Young AS which meets the requirements of subsection (b) of this Section.

             (k) The Purchasers shall have received a comfort letter or letters, dated the Closing
Date of Ernst & Young which meets the requirements of subsection (c) of this Section.

             (l) At the Closing Date, the Securities shall have been designated for trading on The
Portal Market and cleared for settlement at DTC.

             (m) At the Closing Date, application shall have been made to list the Securities on the
Euro MTF Market of the Luxembourg Stock Exchange, and such application shall not have been
withdrawn or rejected or shall have been approved for listing subject to official notice of
issuance.

             (n) At the Closing Date, the Securities shall be rated at least Ba3 by S&P and BB- by
Moody’s, and the Company shall have delivered to the Purchasers a letter dated the Closing
Date, from each such rating agency, or other evidence satisfactory to the Purchasers,
confirming that the Securities have such ratings.

             (o) As of the Closing Date, the Company, the Guarantors and the Trustee shall have
entered into the Indenture.

             (p) As of the Closing Date, the Company and the Guarantors shall have entered into the
Registration Rights Agreement, in form and substance satisfactory to the Purchasers.

             (q) The Company and its subsidiaries shall have (i) received on or prior to the Closing
Date all consents, approvals, authorisations and other orders of, or qualifications with,
each court, regulatory authority, governmental body or agency, or third party, and (ii) given
all notices required under relevant law and any material agreements, in each case, required
to execute, deliver and perform their respective obligations under the Indenture, the
Securities, the Guarantees, the Exchange Securities, the Registration Rights Agreement and
this Agreement, except, in each case, such as may be required under state securities laws and
except for the order of the Commission declaring the Exchange Offer Registration Statement or
Shelf Registration Statement effective.

             The Company will furnish the Purchasers with such copies of such conformed copies of such
opinions, certificates, letters and documents as the Purchasers reasonably request. The Purchasers
may in their sole discretion waive compliance with any conditions to the obligations of the
Purchasers hereunder.

	 	7.	 	Indemnification and Contribution.

             (a) The Company undertakes to each Purchaser that it will indemnify and hold harmless
each such Purchaser, its partners, directors and officers and each person, if any, who
controls each Purchaser within the meaning of Section 15 of the Securities Act (each, a
“Relevant Party”), against any losses, claims, damages or liabilities, joint or several, to
which such Relevant Party may become subject, under the Securities Act or the Exchange Act or
otherwise (each, a “Loss”), insofar as such Loss (or any action in respect thereof) arises
out of or is based upon any untrue statement or alleged untrue statement of any material fact
contained in the Offering Document, or any amendment or supplement thereto, or any related
preliminary offering circular, or arise out of or are based upon the omission or alleged
omission to state therein a material fact necessary in order to make the statements therein,
in the light of the circumstances under which they were made, not misleading, including any
Loss (or any action in respect thereof) arising out of or based upon the Company’s failure to
perform its obligations under Section 5(a) of this Agreement, and the Company shall pay to
such Relevant Party on demand an amount equal to such Loss. No Relevant Party shall have any
duty or obligation, whether as fiduciary

20

 

or trustee for any Relevant Party or otherwise, to recover any such payment or to
account to any other person for any amounts paid to it under this Section 7. The Company
will reimburse each Relevant Party for any legal or other expenses incurred by such Relevant
Party in connection with investigating or defending any such Loss (or action in respect
thereof) upon demand as such expenses are incurred; provided, however, that the Company will
not be liable in any such case to the extent that any such Loss (or any action in respect
thereof) arises out of or is based upon an untrue statement or alleged untrue statement in or
omission or alleged omission from any of such documents in reliance upon and in conformity
with written information furnished to the Company made by the Purchasers through CS
specifically for use in the Offering Document, it being understood and agreed that the only
such information consists of the information described as such in subsection (b) below.

             (b) Each Purchaser will severally and not jointly indemnify and hold harmless the
Company and its directors and officers and each person, if any, who controls the Company
within the meaning of Section 15 of the Securities Act against any losses, claims, damages or
liabilities to which the Company may become subject, under the Securities Act or the Exchange
Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in
respect thereof) arise out of or are based upon any untrue statement or alleged untrue
statement of any material fact contained in the Offering Document, or any amendment or
supplement thereto, or any related preliminary offering circular, or arise out of or are
based upon the omission or the alleged omission to state therein a material fact necessary in
order to make the statements therein, in the light of the circumstances under which they were
made, not misleading, in each case to the extent, but only to the extent, that such untrue
statement or alleged untrue statement or omission or alleged omission was made in reliance
upon and in conformity with written information furnished to the Company by the Purchasers
through CS specifically for use therein, and will reimburse any legal or other expenses
reasonably incurred by the Company in connection with investigating or defending any such
loss, claim, damage, liability or action as such expenses are incurred, it being understood
and agreed that the only such information consists of the following information in the
Offering Document furnished on behalf of the Purchasers through CS: the table entitled
“Initial Purchasers” under the caption “Plan of Distribution” and the second paragraph
thereafter under the caption “Plan of Distribution”; provided, however, that the Purchasers
shall not be liable for any losses, claims, damages or liabilities arising out of or based
upon the Company’s failure to perform its obligations under Section 5(a) of this Agreement.

             (c) Promptly after receipt by an indemnified party under this Section of notice of the
commencement of any action, such indemnified party will, if a claim in respect thereof is to
be made against the indemnifying party under subsection (a) or (b) above, notify the
indemnifying party in writing of the commencement thereof; but the failure to notify the
indemnifying party shall not relieve it from any liability that it may have under subsection
(a) or (b) above except to the extent that it has been materially prejudiced (through the
forfeiture of substantive rights or defences) by such failure; and provided further that the
failure to notify the indemnifying party shall not relieve it from any liability that it may
have to an indemnified party otherwise than under subsection (a) or (b) above. In case any
such action is brought against any indemnified party, the indemnifying party will be entitled
to participate therein and, to the extent that it may wish, jointly with any other
indemnifying party similarly notified, to assume the defence thereof, with counsel reasonably
satisfactory to such indemnified party (who shall not, except with the consent of the
indemnified party, be counsel to the indemnifying party), and after notice from the
indemnifying party to such indemnified party of its election so to assume the defence
thereof, the indemnifying party will not be liable to such indemnified party under this
section for any legal or other expenses subsequently incurred by such indemnified party in
connection with the defence thereof other than reasonable costs of investigation; provided,
however, that the indemnifying party shall only be obligated to pay the fees, disbursements
and other charges of one counsel (and one additional local counsel for each applicable
jurisdiction) to the indemnified parties in connection with any single matter, unless an
indemnified party has a legal position that differs from the other indemnified parties or may
be subject to different claims and defences than the other indemnified parties, in which case
the indemnifying party shall be obligated to pay the fees, disbursements and other

21

 

charges of one additional counsel for such indemnified party. No indemnifying party
shall, without the prior written consent of the indemnified party, effect any settlement of
any pending or threatened action in respect of which any indemnified party is or could have
been a party and indemnity could have been sought hereunder by such indemnified party unless
such settlement includes (i) an unconditional release of such indemnified party from all
liability on any claims that are the subject matter of such action and (ii) does not include
a statement as to, or an admission of fault, culpability or failure to act by or on behalf of
any indemnified party.

             (d) If the indemnification provided for in this Section is unavailable or insufficient
to hold harmless an indemnified party under subsection (a) or (b) above, then each
indemnifying party shall contribute the amount paid or payable by such indemnified party as a
result of the losses, claims, damages or liabilities referred to in subsection (a) or (b)
above (i) in such proportion as is appropriate to reflect the relative benefits received by
the Company on the one hand and the Purchasers on the other from the offering of the
Securities or (ii) if the allocation provided by clause (i) above is not permitted by
applicable law, in such proportion as is appropriate to reflect not only the relative
benefits referred to in clause (i) above but also the relative fault of the Company on the
one hand and the Purchasers on the other in connection with the statements or omissions which
resulted in such losses, claims, damages or liabilities as well as any other relevant
equitable considerations. The relative benefits received by the Company on the one hand and
the Purchasers on the other shall be deemed to be in the same proportion as the total net
proceeds from the offering (before deducting expenses) received by the Company bear to the
total discounts and commissions received by the Purchasers from the Company under this
Agreement. The relative fault shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or the omission or alleged
omission to state a material fact relates to information supplied by the Company or the
Purchasers and the parties’ relative intent, knowledge, access to information and opportunity
to correct or prevent such untrue statement or omission. The amount paid by an indemnified
party as a result of the losses, claims, damages or liabilities referred to in the first
sentence of this subsection (d) shall be deemed to include any legal or other expenses
reasonably incurred by such indemnified party in connection with investigating or defending
any action or claim which is the subject of this subsection (d). Notwithstanding the
provisions of this subsection (d), no Purchaser shall be required to contribute any amount in
excess of the amount by which the total price at which the Securities purchased by it were
resold exceeds the amount of any damages which the Purchaser has otherwise been required to
pay by reason of such untrue or alleged untrue statement or omission or alleged omission.
The Purchasers’ obligations in this subsection (d) to contribute are several in proportion to
their respective purchase obligations and not joint.

             (e) The obligations of the Company under this Section shall be in addition to any
liability which the Company may otherwise have and shall extend, upon the same terms and
conditions, to each person, if any, who controls any of the Purchasers within the meaning of
the Securities Act or the Exchange Act; and the obligations of the Purchasers under this
Section shall be in addition to any liability which the respective Purchasers may otherwise
have and shall extend, upon the same terms and conditions, to each person, if any, who
controls the Company within the meaning of the Securities Act or the Exchange Act.

             8.
 Default of Purchasers. If any Purchaser or Purchasers default in their obligations to
purchase Securities hereunder and the aggregate principal amount of Securities that such defaulting
Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal
amount of Securities, the non-defaulting Purchaser or Purchasers may make arrangements satisfactory
to the Company for the purchase of such Securities by other persons, including any of the
Purchasers, but if no such arrangements are made by the Closing Date, the non-defaulting Purchasers
shall be obligated severally, in proportion to their respective commitments hereunder, to purchase
the Securities that such defaulting Purchasers agreed but failed to purchase. If any Purchaser or
Purchasers so default and the aggregate principal amount of Securities with respect to which such
default or defaults occur exceeds 10% of the total principal amount of Securities and

22

 

arrangements satisfactory to the non-defaulting Purchasers and the Company for the purchase of
such Securities by other persons are not made within 36 hours after such default, this Agreement
will terminate without liability on the part of any non-defaulting Purchaser or the Company, except
as provided in Section 9. As used in this Agreement, the term “Purchaser” includes any person
substituted for a Purchaser under this Section. Nothing herein will relieve a defaulting Purchaser
from liability for its default.

             9.
 Survival of Certain Representations and Obligations. The respective indemnities,
agreements, representations, warranties and other statements of the Company or its officers and of
the Purchasers set forth in or made pursuant to this Agreement will remain in full force and
effect, regardless of any investigation, or statement as to the results thereof, made by or on
behalf of any Purchaser, the Company or any of their respective representatives, officers or
directors or any controlling person, and will survive delivery of and payment for the Securities.
If this Agreement is terminated pursuant to Section 8 or if for any reason the purchase of the
Securities by the Purchasers is not consummated, the Company shall remain responsible for the
expenses to be paid or reimbursed by it pursuant to Section 5 and the respective obligations of the
Company and the Purchasers pursuant to Section 7 shall remain in effect. If the purchase of the
Securities by the Purchasers is not consummated for any reason other than solely because of the
termination of this Agreement pursuant to Section 8 or the occurrence of any event specified in
clause (iii), (iv), (v), (vi) or (vii) of Section 6(b), the Company will reimburse the Purchasers
for all out-of-pocket expenses (including fees and disbursements of counsel plus VAT where
applicable) reasonably incurred by them in connection with the offering of the Securities.

             10.
 Notices. All communications hereunder will be in writing and, if sent to the Purchasers
will be mailed, delivered or faxed to the Purchasers, c/o Credit Suisse First Boston (Europe)
Limited, One Cabot Square, London E14 4QJ, United Kingdom, Attention: High Yield Capital Markets,
facsimile number +44 20 7890 2312 or, if sent to the Company, will be mailed or delivered or faxed
to it at Tour Montparnasse 33 avenue du Maine 75755 Paris Cedex 15, Attention: Mr. Thierry Le Roux
and Mr. Stephane-Paul Frydman, facsimile number + 33 1 64 47 34 31. Any such notice shall take
effect, in the case of delivery, at the time of delivery, in the case of mail two business days
after the same was deposited in the post (first class postage prepaid) and, in the case of
facsimile, at the time of completion of the transmission.

             11.
 Successors. This Agreement will inure to the benefit of and be binding upon the parties
hereto and their respective successors and the controlling persons referred to in Section 7. No
purchaser of Securities from any Purchaser shall be deemed to be a successor merely by reason of
such purchase.

             12.
 Counterparts. This Agreement may be executed in any number of counterparts, each of which
shall be deemed to be an original, but all such counterparts shall together constitute one and the
same Agreement. Delivery of an executed signature page to this Agreement by facsimile shall be as
effective as delivery of a manually executed document.

             13. Representation of Purchasers. CS will act for the several Purchasers in connection with
this purchase, and any action under this Agreement taken by CS will be binding upon all the
Purchasers.

             14. Absence of Fiduciary Relationship. The Company and the Guarantors acknowledge and agree
that:

             (a) The Purchasers have been retained solely to act as underwriters in connection with the
sale of the Securities and no fiduciary, advisory or agency relationship between Company or any of
the Guarantors, on the one hand, and the Purchasers, on the other, has been created in respect of
any of the transactions contemplated by this Agreement, irrespective of whether the Purchasers have
advised or are advising the Company or any of the Guarantors on other matters;

23

 

             (b) the price of the Securities set forth in this Agreement was established by the Company and
the Guarantors following discussions and arms-length negotiations with the Purchasers, and the
Company and the Guarantors are capable of evaluating and understanding, and understand and accept,
the terms, risks and conditions of the transactions contemplated by this Agreement;

             (c) the Company and the Guarantors have been advised that the Purchasers and their affiliates
are engaged in a broad range of transactions which may involve interests that differ from those of
the Company or of any of the Guarantors and that the Purchasers have no obligation to disclose such
interests and transactions to the Company or any of the Guarantors by virtue of any fiduciary,
advisory or agency relationship; and

             (d) the Company and the Guarantors waive, to the fullest extent permitted by law, any claims
they may have against the Purchasers for breach of fiduciary duty or alleged breach of fiduciary
duty and agree that the Purchasers shall have no liability (whether direct or indirect) to the
Company in respect of such a fiduciary duty claim or to any person asserting a fiduciary duty claim
on behalf of or in right of the Company or any of the Guarantors, including shareholders,
employees or creditors of the Company or any of the Guarantors, respectively.

	 	15.	 	Applicable Law and Jurisdiction.

             (a) This Agreement shall be governed by, and construed in accordance with, the laws of
the State of New York.

             (b) The Company hereby submits to the non-exclusive jurisdiction of the Federal and
state courts in the Borough of Manhattan in The City of New York in any suit or proceeding
arising out of or relating to this Agreement or the transactions contemplated hereby.

             (c) The Company irrevocably appoints CT Corporation, 111 8th Avenue, New York, New York
10011, as its authorized agent in New York, upon which process may be served in any such suit
or proceeding, and agrees that service of process upon such agent, and written notice of said
service to the Company by the person serving the same to the address provided in Section 10,
shall be deemed in every respect effective service of process upon the Company in any such
suit or proceeding. The Company further agrees to take any and all action as may be
necessary to maintain such designation and appointment of such agent in full force and effect
for a period of eight years from the date of this Agreement.

             16. Headings. The headings herein are included for convenience of reference only and are not
intended to be part of, or to affect the meaning or interpretation of, this Agreement.

             17. Severability/Illegality. If any provision in this Agreement shall be held to be illegal,
invalid or unenforceable, in whole or in part, under any enactment or rule of law, such provision
or part shall (so far as illegal, invalid or unenforceable) be given no effect and deemed not be
included in this Agreement but the legality, validity and enforceability of the remainder of this
Agreement shall not be affected.

             18. Currency. The obligation of the Company in respect of any sum due to any Purchaser or
other indemnified party, as applicable, shall, notwithstanding any judgment in a currency other
than Euro, not be discharged until the first business day, following receipt by such Purchaser or
other indemnified party, as applicable, of any sum adjudged to be so due in such other currency, on
which (and only to the extent that) such Purchaser or other indemnified party, as applicable, is
able in accordance with normal banking procedures purchase Euro with such other currency; if the
Euro so purchased are less than the sum originally due to such Purchaser or other indemnified
party, as applicable, hereunder, the Company agrees, as a separate obligation and notwithstanding
any such judgment, to indemnify such Purchaser or other indemnified party, as applicable,

24

 

against such loss. If the Euro so purchased are greater than the sum originally due to such
Purchaser or other indemnified party, as applicable, hereunder, such Purchaser or other indemnified
party, as applicable, agrees to pay to the Company an amount equal to the excess of the Euro so
purchased over the sum originally due to such Purchaser or other indemnified party, as applicable,
hereunder.

             References in this Agreement to this Agreement, the Paying Agency Agreement and the Indenture
shall be deemed to include such agreements or deeds as amended, varied or supplemented from time to
time.

[Signature page follows.]

25

 

     If the foregoing is in accordance with the Purchasers’ understanding of our agreement, kindly
sign and return to us one of the counterparts hereof, whereupon it will become a binding agreement
between the Company and the Purchasers in accordance with its terms.

	 	 	 	 	 
	 	Very truly yours,

Compagnie Generale de Geophysique

 	 
	 	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

	 	 	 	 	 
	 	CGG Americas Inc.

 	 
	 	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

	 	 	 	 	 
	 	CGG Canada Services Ltd

 	 
	 	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

	 	 	 	 	 
	 	CGG Marine Resources Norge A/S

 	 
	 	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

	 	 	 	 	 
	 	Sercel Inc.

 	 
	 	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

	 	 	 	 	 
	 	Sercel Australia Pty Ltd

 	 
	 	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

	 	 	 	 	 
	 	Sercel Canada Ltd.

 	 
	 	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

Signature page to Purchase Agreement

 

 

The foregoing Purchase Agreement

is hereby confirmed and accepted

as of the date first above written.

CREDIT SUISSE SECURITIES (EUROPE) LIMITED

BY:
                                                   

Name:

Title:

BY:                                                    

Name:

Title:

BNP PARIBAS SECURITIES CORP.

BY:                                                    

Name:

Title:

Signature page to Purchase Agreement

 

 

SCHEDULE A

	 	 	 	 	 
	 	 	Principal Amount	 
	 	 	of	 
	Purchaser	 	     Securities     	 
	 
	 	 	 	 
	Credit Suisse Securities (Europe) Limited
	 	 	U.S.$82,500,000	 
	 
	 	 	 	 
	BNP Paribas Securities Corp.
	 	 	U.S.$82,500,000	 
	 
	 	 	 	 
	Total
	 	 	U.S.$165,000,000	 

A-1

 

SCHEDULE B

Subsidiaries

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	% Share Capital	 	 	 	 
	 	 	Jurisdiction of	 	 	held directly or	 	 	 	 
	Company Subsidiaries	 	    Organization    	 	 	indirectly	 	 	Guarantor	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	CGG Marine SAS
	 	France	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Geocal SARL
	 	France	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Geoco SAS
	 	France	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Sercel SA
	 	France	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	CGG Explo SARL
	 	France	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Sercel Holding SA
	 	France	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	CGG Americas, Inc.
	 	Texas	 	 	100.0	%	 	Yes
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	CGG do Brasil Participacoes Ltda.
	 	Brasil	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	CGG Canada Services Ltd.
	 	Alberta	 	 	100.0	%	 	Yes
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	CGG International SA
	 	Switzerland	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	CGG (Nigeria) Ltd.
	 	Nigeria	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	CGG Marine Resources Norge A/S
	 	Norway	 	 	100.0	%	 	Yes
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	CGG Offshore UK Ltd.
	 	United Kingdom	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	CGG Pan India Ltd.
	 	India	 	 	40.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	CGG Selva
	 	Peru	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Compania Mexicana de Geofisica
	 	Mexico	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Compaghia de Geologica e Geofisica Portuguesa
	 	Portugal	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Exgeo CA
	 	Venezuala	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Geoexplo
	 	Kazakhstan	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Geophysics Overseas Corporation Ltd.
	 	Bahamas	 	 	100.0	%	 	 	 	 

B-1

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	% Share Capital	 	 	 	 
	 	 	Jurisdiction of	 	 	held directly or	 	 	 	 
	Company Subsidiaries	 	    Organization    	 	 	indirectly	 	 	Guarantor	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	CGG Australia Services Pty Ltd.
	 	Australia	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	CGG Asia Pacific
	 	Malaysia	 	 	33.2	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Petroleum Exploration Computer Consultants Ltd.
	 	United Kingdom	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	PT Alico
	 	Indonesia	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Sercel Australia Pty Ltd.
	 	Australia	 	 	100.0	%	 	Yes
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Hebei Sercel JunFeng
	 	China	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Sercel Inc.
	 	Oklahoma	 	 	100.0	%	 	Yes
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Sercel Singapore Pte Ltd.
	 	Singapore	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Sercel England Ltd.
	 	United Kingdom	 	 	100.0	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Sercel Canada Ltd.
	 	New Brunswick	 	 	100.0	%	 	Yes
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Exploration Resources ASA
	 	Norway	 	 	100.00	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Multiwave Geophysical Company ASA
	 	Norway	 	 	100.00	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Exploration Vessel Resources
	 	Norway	 	 	100.00	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Exploration Vessel Resources II
	 	Norway	 	 	100.00	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Exploration Investment Resources II
	 	Norway	 	 	100.00	%	 	 	 	 

B-2

 

EXHIBIT A

[Form of Linklaters opinion to come]

EXH A-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}]]