Bli medlem
Bli medlem

Du är här

2015-04-09

Polarcus Limited: Polarcus extends backlog outlook on Letter of Award from TGS

Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) is pleased to
announce that the Company has signed a Letter of Award ("LOA") with TGS-NOPEC
Geophysical Company ASA ("TGS") for the charter of the Company's 3D seismic
vessel, POLARCUS ADIRA. The charter, of 3 months duration with an option for
a further 3 months, will commence in April 2015. The vessel will be operating
offshore Norway.

Subsequent to the above LOA the booked capacity for the Company's active 3D
seismic fleet, inclusive of the bareboat charter of Vyacheslav Tikhonov and
exclusive of POLARCUS NADIA, now cold-stacked, currently stands at:

Q2 2015 90%

Q3 2015 75%

Q4 2015 35%

Commenting on this latest award, Duncan Eley, COO Polarcus, said: "With this
and other recent project awards, the Company has demonstrated its ability to
capture significant market share in a challenging business environment,
providing Polarcus with very good visibility for the next three quarters."

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)

---------------------------------------

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

HUG#1909660

Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.