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2016-02-12

Polarcus Limited: Polarcus awarded broadband 4D project offshore Norway

Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) is pleased to
announce that the Company has received a Letter of Intent ("LOI") for a 4D
project over a field offshore Norway. This will be the 8th monitor survey
over the field and is part of an improved oil recovery (IOR) plan.

The survey is due to commence in May 2016 and will run for approximately 8
weeks.

Commenting on the award Duncan Eley, COO Polarcus stated:

"We are very pleased to have been chosen for this 4D acquisition which has
been designed to develop a monitoring program for optimal well placement and
drainage of the field. The project now forms part of a substantial work
program that we have for the coming season and underlines our commitment to
the North Sea arena and to offshore Norway in particular".

Contacts

Tom Henrik Sundby, CFO
+971 50 708 6480
tom.sundby@polarcus.com

Hans-Peter Burlid, VP Finance&Investor Relations
+971 50 559 8175
hp.burlid@polarcus.com

About Polarcus

Polarcus (OSE: PLCS) is an innovative marine geophysical company with a
pioneering environmental agenda, delivering high-end towed streamer data
acquisition and imaging services from Pole to Pole. Polarcus operates a fleet
of high performance 3D seismic vessels incorporating leading-edge maritime
technologies for improved safety and efficiency. Polarcus offers contract
seismic surveys and multi-client projects with advanced onboard processing
solutions and employs nearly 500 professionals worldwide. The Company's
principal office is in Dubai, United Arab Emirates. For more information,
visitwww.polarcus.com

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Polarcus Limited via Globenewswire

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