1. A method of processing seismic data, the method comprising the steps of: (a) providing a digital seismic trace comprising at least one seismic loop; (b) obtaining a selected discrete wavelet transform of the digital seismic trace, as a function of scale s j and shifted sample time t k ; (c) obtaining a singularity spectrum from the discrete wavelet transform for said at least one seismic loop; (d) fitting a selected function to the singularity spectrum, the selected function depending on three or more independent parameters of which at least one is a parameter associated with a seismic wavelet.