Seitel offer for Pulse Data shares has expired



    TORONTO, Oct. 22 /CNW/ - Seitel, Inc.'s $3.30 per share cash offer for
Pulse Data Inc.'s (TSX: PSD, PSD.TO) common shares expired at midnight
(Vancouver time) on Friday, October 19, 2007 and was not extended. At the
expiry time the minimum tender condition (that a sufficient number of Pulse
Data common shares be tendered and not withdrawn so that after taking up the
shares the offeror and its affiliates would own not less than 66(2)/(3)% of
the Pulse Data common shares) had not been satisfied. The offeror is not
taking up any Pulse Data common shares tendered under the offer and all
tendered shares will be returned to the tendering shareholders in accordance
with the terms of the offer.

    About Seitel

    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 only.

    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 Seitel to differ
materially from any future results, performance or achievements expressed or
implied by such forward-looking statements. Seitel 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.





For further information:

For further information: Questions may be addressed to Seitel's
Information Agent for the offer, Innisfree M&A Incorporated at 1-888-750-5834
(English) or 1-877-825-8777 (French)

Organization Profile

SEITEL, INC.

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6818862 CANADA INC.

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