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This paper studies the influence of shear-wave splitting on the azimuthal behaviour of PS converted waves in HTI media. Theoretical analysis and synthetic study show that it is more accurate to separate the fast P-SV1 component from the slow P-SV2 component before compensating for azimuthal anisotropy, especially in water-saturated fractures. NMO corrections to the P-SV1 component in dry and water-saturated models can be improved by the application of the velocity ellipse.