Natural Resources >> CEO Interviews >> March 13, 2001

Paul Frame / Russell Hoffman – Seitel Inc (sei)

RUSSELL J. HOFFMAN, is Vice President, Corporate Communications for Seitel, Inc. Mr. Hoffman had been the Senior Oil Services/Contract Drilling Analyst and a Managing Director at Bear, Stearns and Co., Inc. Prior to joining Bear, Stearns in 1993, Mr. Hoffman was a Vice President at Raymond James & Associates (1992-1993) covering oil and natural gas exploration and oil service/contract drilling companies. A published author of several magazine articles on business and the energy industry, Mr. Hoffman is a member of the New York Society of Securities Analysts, and the National Association of Petroleum Investment Analysts. Most recently, he correctly identified the turnaround in the natural gas industry, leading The Wall Street Journal to cite Mr. Hoffman as the top Oil Service Analyst in their 1993 All-Star Analyst survey, and runner-up in 1995 and 1996. In July 1996 he was presented The Smart Money Magazine Hot Analyst award. He earned a Bachelor of Science degree in Business Administration and Experimental Psychology from the University of South Carolina. Profile
PAUL A. FRAME is currently President and Chief Executive Officer of Seitel, Inc. He joined the company in August 1984 as Vice President of Marketing. In January 1987 he was named President of Seitel Inc. and in July 1992, Mr. Frame was named Chief Executive Officer. Since August 1997, Mr. Frame has been a Director of Eagle Geophysical, Inc., a NASDAQ listed company engaged in providing seismic data acquisition to the oil and natural gas industry. Seitel Inc. holds a 17.5% interest in the company. Prior to joining the company, Mr. Frame began his business career in 1970 as a Partner in the family business, Frame Inc., located In Valparaiso, Indiana. In 1976 Universal Mines Inc. and Gemveto Inc., a loose diamond and fine jewelry wholesaler, employed him concurrently. In 1980, Mr. Frame moved to Sydney, Australia to trade gold, export sapphires and manufacture gold products. Under Mr. Frame's direction, Seitel has been active in the Houston community. Seitel and Mr. Frame have been chosen by the American Heart Association to be honored and receive the highest award for service for their contributions. He also received the Crohn's and Colitis Foundation of America's Gold Key Award for Outstanding Corporate Leadership, the Cystic Fibrosis Foundation Sierra Award, and many other awards from M.D. Anderson Cancer Center, and the Stevens and Pruitt Foundation for Homeless Children and Animals. Mr. Frame earned a Bachelor of Science degree in Business Economics and Public Policy from Indiana University. A member of the Dean's Advisory Board to the University of Houston Business School, he enjoys art collecting, boating, snow skiing, travel and auto racing. He holds I.M.A.C. and S.C.C.A. racing licenses and participates in the Ferrari Challenge Racing Series. Profile
TWST: Could we start out with a quick update on Seitel?

Mr. Frame: In June, Seitel experienced a fundamental change in their

business, a dramatic increase in capital expenditures for our