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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report
September 29, 1998
(Date of Earliest Event Reported)
EAGLE GEOPHYSICAL, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
000-22863 76-0522659
(Commission File Number) (IRS Employer Identification No.)
2603 Augusta, Suite 1400
Houston, Texas 77056
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (713) 243-6100
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Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit 99 - Press Release dated September 29, 1998
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: October 2, 1998
EAGLE GEOPHYSICAL, INC.
By: /s/ JAY N. SILVERMAN
-------------------------------------
Jay N. Silverman, President
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INDEX TO EXHIBITS
EXHIBIT
NUMBER DESCRIPTION
- ------ -----------
99.1 Press Release
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EXHIBIT 99.1
PRESS RELEASE
EAGLE GEOPHYSICAL ANNOUNCES NRG ACQUISITION
HOUSTON, Sept. 29 -- Eagle Geophysical, Inc. (Nasdaq: EGEO) and
Natural Resources Geophysical Corporation of Calgary, Alberta (NRG Services)
jointly announced today the signing of a letter of intent outlining the terms
of a transaction for the acquisition of the assets and operations of NRG by
Eagle Geophysical, Inc.
The terms of the transaction provide for the purchase of land
acquisition equipment, a land seismic data library and the assumption of debt
collateralizing the equipment. Presently NRG operates two 3D seismic crews in
Canada and the operating personnel of NRG will become employees of Eagle
Geophysical, Inc. The transaction will be financed with cash and Eagle common
stock.
The proposed transaction is subject to execution of a definitive
agreement, approval of the Boards of Directors of both companies, as well as
applicable Canadian and United States regulatory approvals. The companies
presently expect the transaction to close on or before November 30, 1998.
Jay Silverman, President and Chief Executive Officer of Eagle
Geophysical, noted: "We believe that the acquisition of NRG realizes a
strategic objective of entering the growing Canadian market in addition to
obtaining key industry talent to support both the Canadian and U.S. markets for
onshore operations."
Robert Wood, President and Chief Executive Officer of NRG Services
noted: "Our integration into Eagle will increase levels of international
experience in Eagle while providing our Canadian crews better access to certain
U.S. markets."
Eagle Geophysical, Inc., is a leading provider of integrated onshore
and offshore seismic data acquisition services to the petroleum industry. NRG
is a geophysical service company providing onshore services including project
design, field survey, acquisition and processing.
