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2014-04-07

Polarcus Limited: Polarcus vessel utilization for Q1 2014

Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) announces the
Company's First Quarter 2014 vessel utilization as follows:

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|Utilization Q1 - 2014 Q1 - 2013 Q4 - 2013 |
|Contract Seismic 70% 72% 70% |
|Multi-Client 10% 13% 4% |
|Transit 14% 13% 19% |
|Yard 5% 2% 3% |
|Standby 1% 0% 4% |
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The Company will be releasing its First Quarter 2014 Report on 14 May 2014 at
approximately 07:00hrs CET (09:00hrs UAE).

A webcast and conference call will be hosted by Rolf Rønningen, CEO, and Tom
Henrik Sundby, CFO, commencing at 08:00hrs CET (10:00hrs UAE). Conference
call dial-in information will be published on 05 May 2014.

Contacts

Rolf Rønningen, CEO Polarcus, +971 4 436 0800 / +971 50 459 6982

Tom Henrik Sundby, CFO Polarcus, +971 4 436 0800 / +971 50 708 6480

About Polarcus

Polarcus (OSE: PLCS) is a pure play marine geophysical company with a
pioneering environmental agenda, specializing in high-end towed streamer data
acquisition from Pole to Pole. Polarcus operates a fleet of high performance
3D seismic vessels incorporating an innovative design and advanced maritime
technologies for improved safety and efficiency. Polarcus offers contract
seismic surveys and multi-client projects worldwide and employs over 500
professionals. The Company's principal office is in Dubai, United Arab
Emirates. For more information, visit
www.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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