Geokinetics Announces Executive Appointments
February 27 2009 - 3:59PM
PR Newswire (US)
Company Names Lee Parker Executive Vice President - Operations and
Jim White Executive Vice President - Business Development &
Technology HOUSTON, Feb. 27 /PRNewswire-FirstCall/ -- Geokinetics
Inc. (NYSE Alternext: GOK) announced that Lee Parker has been named
to the position of Executive Vice President - Operations, where he
will be responsible for managing the Company's world-wide seismic
data acquisition operations. Mr. Parker had previously served as
the Company's Executive Vice President - International. Jim White,
previously the Company's Executive Vice President - North America,
will now serve as Executive Vice President - Business Development
& Technology. In this newly created role, Jim will be
responsible for managing all business development, marketing, and
technology functions, including the information technology and data
processing & interpretation groups. Both Mr. Parker and Mr.
White will continue to report to Richard F. Miles, President and
CEO. Richard Miles said: "In today's fast changing environment, it
is more important than ever to maximize our corporate capabilities.
Appointing Lee and Jim to these new roles will enable Geokinetics
to more effectively leverage opportunities across its world-wide
seismic data acquisition operations, increasing customer
responsiveness, while pursuing related business development
opportunities. These actions continue our program to best position
Geokinetics for long-term sustainable growth and success. As
always, our goals are to increase efficiency and profitability,
enhance shareholder value and create opportunities for personal
growth and improvement and I believe these changes will support
these goals." About Geokinetics Inc. Geokinetics Inc., based in
Houston, Texas, is a leading global provider of seismic data
acquisition and high-value seismic data processing services to the
oil and gas industry. Geokinetics operates in some of the most
challenging environments in the world from the Arctic to
mountainous jungles to the swamps and surf zones of transition zone
environments. More information about Geokinetics is available at
http://www.geokinetics.com/. Forward-Looking Statements This press
release includes "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, as amended (the "Exchange Act").
All statements, other than statements of historical facts, included
in this release that address activities, events or developments
that Geokinetics expects, believes or anticipates will or may occur
in the future are forward-looking statements. These statements
include but are not limited to statements about the business
outlook for the year, backlog and future jobs, business strategy,
related financial performance and statements with respect to future
benefits. These statements are based on certain assumptions made by
Geokinetics based on management's experience and perception of
historical trends, industry conditions, market position, future
operations, profitability, liquidity, backlog, capital resources
and other factors believed to be appropriate. Such statements are
subject to a number of assumptions, risks and uncertainties, many
of which are beyond the control of Geokinetics, which may cause
actual results to differ materially from those implied or expressed
by the forward-looking statements. These include risks relating to
financial performance and results, job delays or cancellations,
reductions in oil and gas prices, the continued disruption in
worldwide financial markets, impact from severe weather conditions
and other important factors that could cause actual results to
differ materially from those projected, or backlog not to be
completed, as described in the Company's reports filed with the
Securities and Exchange Commission. Backlog consists of written
orders and estimates of Geokinetics' services which it believes to
be firm, however, in many instances, the contracts are cancelable
by customers so Geokinetics may never realize some or all of its
backlog, which may lead to lower than expected financial
performance. Although Geokinetics believes that the expectations
reflected in such statements are reasonable, it can give no
assurance that such expectations will be correct. All of
Geokinetics' forward-looking statements, whether written or oral,
are expressly qualified by these cautionary statements and any
other cautionary statements that may accompany such forward-looking
statements. Any forward-looking statement speaks only as of the
date on which such statement is made and Geokinetics undertakes no
obligation to correct or update any forward-looking statement,
whether as a result of new information, future events or otherwise.
DATASOURCE: Geokinetics Inc. CONTACT: Richard Miles, President and
CEO of Geokinetics Inc., +1-713-850-7600, fax, +1-713-850-7330 Web
Site: http://www.geokinetics.com/
Copyright