DOW JONES NEWSWIRES

Petroleum Geo-Services ASA Wednesday said Asker and Baerum Tingrett court dismisses $70 million damages claim made against its subsidiary Arrow Seismic ASA.

   MAIN FACTS:

-CGG Veritas claimed $70 million in damages on basis of the assertion that Arrow had taken on contractual obligations to charter the vessel NB 534 to CGG Veritas.

-Arrow denied the existence of any such contractual commitment.

-Court concludes that CGGV's claim for damages is unfounded. CGGV were ordered to compensate Arrow for its legal costs.

-Judgment may in principle be appealed to the Court of Appeal.

-By Stockholm Bureau, Dow Jones Newswires; +46-8-5451-3090; djnews.stockholm@dowjones.com