Paradigm not obliged to sell SeisX to GMA (September 1998)

Paradigm has no obligation to sell SeisX toGMA.

SeisX, originally the Photon seismic interpretation product, was bought by Paradigm as part of the Cogniseis acquisition (PDM Vol 2 N 7). Prior to the sale, Paradigm and GMA had signed a letter of intent whereby Paradigm was to sell-on the SeisX product to GMA. Subsequent negotiations failed to finalize this before its expiry in December 1997 and Paradigm filed suit for a Declaratory Judgement on the dispute. The recent Final Judgment of a Texas Court has dismissed all GMA’s counter claims and determined that there was no fact issue that required a trial. SeisX is a Windows NT and UNIX based ‘regional’ interpretation product designed to accommodate multi-vintage 2D and 3D seismic and well logs including horizon and fault mapping capabilities.

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