This study aims at comparing the performance of a Multi-Layer Feed-Forward Neural Network and exponential curve fitting Models for the estimation of airwaves associated with shallow water Controlled Source Electro-Magnetic (CSEM) data. The performance measure is based on Mean Square Error (MSE), Sum of Squares Error (SSE) and coefficient of determination (R2). The MLP-NN network produced better and superior results with low MSE of 1.13e-7, SSE of 0.00017 and higher R2 of 99.35%.