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2019-08-26

MSEIS: Magseis Fairfield has signed a Letter of Intent for lease of a node crew

(Oslo, 26 August 2019) Magseis Fairfield has signed a Letter of Intent (LoI) for
the lease of a Z700 node crew, which includes nodes, auxiliary equipment and
service personnel for a six-month period in the Caspian Sea. The contract will
commence in the first quarter 2020 when the nodes have been released from an
ongoing survey.

"Magseis Fairfield is proud to be the preferred technology provider for yet
another ocean bottom seismic (OBS) survey. This demonstrates the company's
strong position in the global OBS market and our flexible business model with
sales, leases and node operations," says Per Christian Grytnes, Magseis
Fairfield CEO.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Per Christian Grytnes, CEO
Tel: +47 48 21 48 21
Email: pc.grytnes@magseisfairfield.com

* * *

Magseis Fairfield is a leading provider of ocean bottom seismic systems and
services. The Marine Autonomous Seismic System "MASS" and the range of Z-nodes
combined with automated handling systems enables highly cost-efficient
acquisition of data with exceptional quality. The Company is headquartered in
Oslo, Norway and has offices in Norway, Sweden, UK, USA, Brazil and Singapore.

Source Url: https://newsweb.oslobors.no/message/483742

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