VGS Vgs Seismic Canada Com Npv

VGS Seismic Canada Inc. ("VGS" or the "Company") (TSX VENTURE:VGS) and
Plainfield Luxembourg S.a.r.l. ("Plainfield Luxembourg") are pleased to announce
that Plainfield Luxembourg has acquired all of the common shares of VGS that it
did not already own (the "Transaction") at a price of $0.06 per share, pursuant
to a plan of arrangement under the Canada Business Corporations Act effective as
of September 25, 2009 (the "Effective Date"). Plainfield Luxembourg is an
affiliate of a private fund managed by Plainfield Asset Management LLC, an
investment adviser registered with the U.S. Securities and Exchange Commission
in accordance with the Investment Advisers Act of 1940. 


The directors of VGS, with the exception of Justin Burley and David Mairs, have
resigned and Jack Neumark, Vice-President and Senior Counsel of Plainfield Asset
Management LLC, has been appointed to the Board of Directors. David Mairs, the
President and Chief Executive Officer of VGS, and Lorraine Myers, the Chief
Financial Officer of VGS, will remain with the Company in their current
positions.


Effective at the close of business September 25, 2009 the common shares of VGS
will be delisted from the TSX Venture Exchange.


The Transaction is described in the Company's Management Information Circular
dated August 12, 2009.


VGS thanks its customers and suppliers for their support and looks forward to
continued, mutually beneficial relationships in the future.


Based in Calgary, Alberta, VGS Seismic Canada Inc. acquires and retains the
ownership rights to digital seismic data for licensing to oil and natural gas
exploration companies. The Company's data library is concentrated in British
Columbia, Southern Alberta and Eastern Saskatchewan.

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