New Subsea Robotic Geotechnical Site Investigation Company Formed

Gregg Seafloor Drill System

Houston, Texas – June 29, 2012. Fugro Offshore Geotechnics, specialists in marine site investigation and geo-consulting, and Gregg Marine, Inc., specialists in subsea robotic drilling and geotechnical testing services, announced today the successful formation of a new Joint Venture company: Seafloor Geotec, LLC (SGL). SGL will be headquartered in Moss Landing, CA, but operate globally through member companies and affiliates.

SGL will combine the extensive offshore drilling and testing expertise of both parent companies with the highly versatile and powerful set of robotic seabed site investigations systems developed by Gregg Marine to provide an enhanced seabed-based drilling, PCPT and soil testing capability to 3,000m water depth.

In addition to the existing Gregg Seafloor Drill System, which has recently completed ground investigation projects in deepwater offshore Australia, the company will own and operate several seabed PCPT systems and portable drilling rigs. The company plans an aggressive equipment build program, having executed a contract for immediate production of Seafloor Drill System #2, which will include several enhancements and upgrades to the first system. General specification of Drill #2 includes: depth rating of 4,000msw, core pipe up to PQ size, real-time wireline logging and PCPT testing, piston coring, and drilling capability up to 150m under the seabed. It should be a compelling option for oil and gas companies, mineral and mining companies and the scientific community.

Tim Boyd, Managing Director of Seafloor Geotec, LLC: “We’re bringing together the best of the best in order to take robotic geotechnical site investigation capabilities to the next level. It is an exciting time for our industry, and Seafloor Geotec will be working closely with our parent companies and clients to bring another option to the table in offshore and deepwater geotechnical services”.

About FUGRO

Fugro’s mission is to be the world’s leading service provider for the collection and interpretation of data relating to the Earth’s surface and sub-surface and for associated services and advice in support of infrastructure development on land, along the coast and on the seabed. Fugro’s activities are carried out across the world, onshore, offshore and from the air. http://www.fugro.com

About Gregg Marine, Inc.

Since 1985, Gregg Drilling & Testing, Inc. has been a leader and innovator in drilling, sampling, and subsurface investigation, providing clients in industry and government with high quality services. Gregg Marine, Inc. was formed from the existing marine division of the company, to focus specifically on meeting the increasing demand for quality offshore drilling and sampling services. Gregg Marine is headquartered in Moss Landing, California U.S.A., and with regional offices in Martinez, California, East Palo Alto, California, and Livingston, Texas. http://www.greggdrilling.com