Seitel, Inc. and 6818862 Canada Inc. announce the offer for Pulse Data common shares is extended and the all cash offer price is increased to $3.30 per share



    TORONTO, Sept. 28 /CNW/ - Seitel, Inc., and its indirect wholly-owned
subsidiary 6818862 Canada Inc. ("Offeror"), today announced that the Offeror
has amended and extended its formal offer ("Offer") to acquire all of the
outstanding common shares, and the associated rights under the shareholders
rights plan, of Pulse Data Inc. ("Pulse Data") other than shares and
associated rights held by the Offeror or its joint actors.
    The Offer has been amended to increase the offer price to $3.30 in cash
per common share before deducting any dividends that were or will be declared
or paid by Pulse Data to shareholders subsequent to the August 13, 2007
commencement date of the Offer but prior to the taking up of any common shares
deposited under the Offer. The Offer also has been amended to indicate that
until such time as the Pulse Data shareholders rights plan is cease traded or
no longer is applicable to the Offer, the Offeror will not waive its
two-thirds minimum tender condition unless that number of Pulse Data common
shares representing a majority of the shares other than shares owned by the
Offeror or its joint actors have been tendered under the Offer.
    The Offer is now open until 5:00 p.m. (Toronto time) on October 12, 2007,
unless the Offer is withdrawn or further extended by the Offeror. The Offeror
has not taken up any common shares deposited under the Offer.

    About Seitel and the Offeror

    Seitel, Inc., a Delaware corporation, is a leading provider of seismic
data to the oil and gas industry in North America. It owns an extensive
library of proprietary onshore and offshore seismic data that it has
accumulated since its inception in 1982 and that it licenses to a wide range
of oil and gas companies. Seitel's seismic data library includes both onshore
and offshore 3D and 2D data. The majority of its onshore seismic data covers
sections of the U.S. Gulf Coast, including Eastern Texas, Southern Louisiana
and Mississippi, as well as Western Canada, the Rocky Mountains and Northern
Louisiana. Seitel also owns a library of offshore data covering parts of the
shelf and certain deep water areas in the Western and Central U.S. Gulf of
Mexico and the waters off the coast of Eastern Canada. Seitel's customers
range from small and mid-cap exploration and production companies and private
prospecting individuals to large independent oil and gas companies and also
include global oil and gas companies.

    6818862 Canada Inc. is an indirect wholly-owned subsidiary of Seitel that
was incorporated for purposes of acquiring the common shares of Pulse Data and
for making the offer. The Offeror has not carried on any other business to
date. The Offeror's registered office is located at 1900 Canada Place, 407 2nd
Street SW, Calgary, Alberta T2P 2Y3.

    Important Notice

    This announcement does not constitute or form part of any offer to sell
or invitation to purchase any securities or solicitation of an offer to buy
any securities, pursuant to the offer or otherwise. This announcement is for
information purposes and is not a substitute for the formal offer and
take-over bid circular. Pulse Data shareholders are urged to read the Offer to
Purchase and Circular, dated August 10, 2007, the Notice of Variation, dated
August 22, 2007, the Notice of Extension, dated September 18, 2007 and the
Notice of Variation and Extension, dated September 28, 2007 and any other
materials relating to the offer because they contain important information.
Copies of the circular and other materials relating to the offer can be
obtained when they become available free of charge at the SEDAR website at
www.sedar.com or from Innisfree M&A Incorporated (Toll Free 1-888-750-5834
(English speakers) or 1-877-825-8777 (French speakers)), who is acting as the
Offeror's Information Agent in connection with the offer.
    Certain statements contained in this press release may contain
forward-looking statements and are prospective. Words such as "anticipates",
"expects", "intends", "plans", "forecasts", "projects", "budgets", "believes",
"seeks", "estimates", "could", "might", "should", and similar expressions
identify forward-looking statements. Such forward-looking statements are
subject to known and unknown risks, uncertainties and other factors that could
cause actual results, performance or achievements of the Offeror or Seitel to
differ materially from any future results, performance or achievements
expressed or implied by such forward-looking statements. The Offeror disclaims
any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, except as required by applicable law.
    Questions may be directed to the Information Agent for the offer at the
telephone numbers provided above.




For further information:

For further information: Questions may be directed to the Information
Agent for the offer at the telephone numbers provided above.

Organization Profile

SEITEL, INC.

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6818862 CANADA INC.

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