Aquila Financial

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Client profile

19 November 2007

Offshore Hydrocarbon Mapping plc ("OHM" or "the Company"): Preliminary Results for the Year ended 31 August 2007

Turnover increased by 70% to £17.7 million

EBITDA of £0.3 million (2006: £0.1 million loss)

Pre tax losses reduced to £1.0 million(2006: £1.6 million loss)

Cash balance of £19 million

Earnings per share (3.35)p (2006:5.54))p

Strategic alliance with CGGVeritas and acquisition of Rock Solid Images

Second dedicated vessel chartered

Offshore Hydrocarbon Mapping's Chairman, Dr. Pierre Jungels, said:

"The year to 31 August 2007 will be seen in the future as a vintage year for the Company. Controlled Source ElectroMagnetic imaging became a mainstream exploration tool, the Group has emerged unscathed from patent disputes with a competitor, a strategic alliance was formed with CGGVeritas, and OHM made its first significant acquisition, of Rock Solid Images. All of these advances bode well for the future.

In June 2007, our first dedicated vessel, OHM Express, came into service in Northern Europe. OHM Express, specifically modified for CSEM operations has already improved our operational uptime. A second dedicated vessel the OHM Leader has now been chartered and is expected to come into service in June of 2008.

Our researchers are now developing our thinking in terms of the wider integration of CSEM with other geophysical data such as well log data, 3 and 4D seismic giving quantitative measurement of rock and fluid properties which will have immense benefits for reservoir characterisation and management. The acquisition of Rock Solid Images will contribute significantly to this effort."