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Breckenridge Geophysical Sale to Dawson Geophysical Company

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Insight

Breckenridge Geophysical Sale to Dawson Geophysical Company

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March 24, 2023

Winston & Strawn LLP represented Breckenridge Geophysical in its sale of all assets related to seismic data acquisition services, other than its multi-client data library, to Dawson Geophysical Co. (Dawson), a Texas-based processor of seismic data for its clients, ranging from major oil and gas companies to independent oil and gas operators, as well as providers of multi-client data libraries. The total consideration for the transaction is 7,000,000 shares of Dawson common stock. 1,188,235 shares were issued at the time of closing, and the remaining 5,811,765 shares are in the form of a convertible note, which will only convert following shareholder approval at a meeting Dawson plans to convene as soon as practicable.

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