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2015-04-03

Polarcus Limited: Polarcus expands broadband multi-client project offshore Australia

Reference is made to the stock exchange notice published by Polarcus Limited
("Polarcus" or the "Company") (OSE: PLCS) on 21 October 2014 regarding the
announcement of a major new multi-client project offshore Australia (the
"Capreolus 3D Project").

Polarcus is pleased to announce that the Company has secured further industry
prefunding enabling the expansion of the survey northwards with an additional
7,130 square kilometers. Consequently the Capreolus 3D Project will now
comprise approximately 22,130 sq. km overall, providing exploration companies
with an extensive basin-wide broadband 3D seismic dataset across the Roebuck
Basin, offshore North West Shelf, Australia.

Seismic acquisition on the original program commenced early January 2015 with
two Polarcus A-Class 3D seismic vessels utilizing the Company's RightBAND(TM)
technique for broadband data acquisition. The expanded survey is now
estimated at approximately twelve vessel months duration overall, and will
utilize an additional Polarcus 3D seismic vessel for part of the program. As
of date, seismic acquisition is approximately 40% complete (of the new
expanded program).

The resultant data from the Capreolus 3D Project will be processed through a
pre-stack depth migration routine by DownUnder GeoSolutions in Perth,
Australia, with final data products expected to be delivered within Q1 2016.

Contacts

Rod Starr, CEO Polarcus

+971 4 436 0800

rod.starr@polarcus.com

Tom Henrik Sundby, CFO Polarcus

+971 50 708 6480

tom.sundby@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 over 600 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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