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SEITEL OFFER FOR PULSE DATA SHARES HAS EXPIRED
TORONTO, October 22, 2007 - Seitel, Inc.’s $3.30 per share cash offer for
Pulse Data Inc.’s (TSX: PSD, PSD.TO) common shares expired at midnight (Vancouver time) on Friday, October 19, 2007
and was not extended. At the expiry time the minimum tender condition (that a sufficient number of Pulse Data common
shares be tendered and not withdrawn so that after taking up the shares the offeror and its affiliates would own not
less than 662/3% of the Pulse Data common shares) had not been satisfied. The offeror is not taking up any Pulse Data
common shares tendered under the offer and all tendered shares will be returned to the tendering shareholders in
accordance with the terms of the offer.
About Seitel
Seitel, Inc., a Delaware corporation, is a leading provider of seismic data to the oil and gas industry in North America.
It owns an extensive library of proprietary onshore and offshore seismic data that it has accumulated since its inception
in 1982 and that it licenses to a wide range of oil and gas companies. Seitel’s seismic data library includes both onshore
and offshore 3D and 2D data. The majority of its onshore seismic data covers sections of the U.S. Gulf Coast, including
Eastern Texas, Southern Louisiana and Mississippi, as well as Western Canada, the Rocky Mountains and Northern Louisiana.
Seitel also owns a library of offshore data covering parts of the shelf and certain deep water areas in the Western and
Central U.S. Gulf of Mexico and the waters off the coast of Eastern Canada. Seitel’s customers range from small and mid-cap
exploration and production companies and private prospecting individuals to large independent oil and gas companies and also
include global oil and gas companies.
6818862 Canada Inc. is an indirect wholly-owned subsidiary of Seitel that was incorporated for purposes of acquiring the
common shares of Pulse Data and for making the offer. The Offeror has not carried on any other business to date. The Offeror’s
registered office is located at 1900 Canada Place, 407 2nd Street SW, Calgary, Alberta T2P 2Y3.
Important Notice
This announcement does not constitute or form part of any offer to sell or invitation to purchase any securities or solicitation
of an offer to buy any securities, pursuant to the offer or otherwise. This announcement is for information purposes and is not
a substitute for the formal offer and take-over bid circular. Pulse Data shareholders are urged to read the Offer to Purchase and
Circular, dated August 10, 2007, the Notice of Variation, dated August 22, 2007, the Notice of Extension, dated September 18, 2007
and the Notice of Variation and Extension, dated September 28, 2007 and any other materials relating to the offer because they
contain important information. Copies of the circular and other materials relating to the offer can be obtained when they become
available free of charge at the SEDAR website at www.sedar.com or from Innisfree M&A Incorporated at the numbers provided above.
Certain statements contained in this press release may contain forward-looking statements and are prospective. Words such as
“anticipates”, “expects”, “intends”, “plans”, “forecasts”, “projects”, “budgets”, “believes”, “seeks”, “estimates”, “could”,
“might”, “should”, and similar expressions identify forward-looking statements. Such forward-looking statements are subject to
known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements of the
Offeror or Seitel to differ materially from any future results, performance or achievements expressed or implied by such
forward-looking statements. The Offeror disclaims any intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as required by applicable law.
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