RXT Appoints Stein Hedemark as New CEO (Norway)

Reference is made to the notice of 12 December 2010 regarding Larry Wagner’s resignation as CEO of Reservoir Exploration Technology ASA (“RXT”) and the information that Stein Hedemark would act as CEO of the company until the board had been able to identify Larry Wagner’s successor.

The board is pleased to announce that RXT now has engaged Stein Hedemark as CEO of the company.

About RXT

Reservoir Exploration Technology ASA (RXT) is the only marine geophysical company specializing in multicomponent seismic seafloor acquisition. Multi- component seismic solves several imaging challenges that cannot be resolved with towed streamer seismic,and targets improved oil recovery from existing fields. The technology also gives better data quality for appraisal and development, and is also the solution where towed streamers are impractical due to high density of platforms and/ or shallow waters. The Company has offices in Oslo, Norway in Rio de Janeiro, Brazil, in Abu Dhabi, UAE and Houston, Texas.

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Source: rxt ,March 11, 2011;