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2016-07-22

Spectrum ASA: Commencement of a 15,000 km Multi-Client 2D survey offshore Brazil in the Santos and Campos Basins

HOUSTON, TX, July 22nd 2016 - Spectrum is pleased to announce the commencement
of a 15,000 km Multi-Client 2D survey offshore Brazil in the Santos and
Campos Basins.

The new acquisition program is an outboard extension of Spectrum's 2012 Santos
Campos Phase 1 survey, and will tie other programs in the Santos, Campos and
Espirito Santo Basins producing a continuous dataset covering the prolific
pre-salt oil fields in these basins.

Data is being acquired with a 12,000 m cable to record data necessary to
understand the basin architecture as well as image the prospective zones in
the pre-salt section. The data will be processed in Spectrum's processing
center in Houston with PSTM, PSDM and Broadband products expected to be
available in Q2 2017.

Richie Miller, EVP Multi-Client North&South America, comments: "Spectrum has
started on our next campaign in Brazil in order to provide new long-offset
data over the prospective pre-salt basins for an anticipated round in 2017.
In light of the Brazilian government's suggestion that it will include blocks
outside the pre-salt area in the Santos and Campos Basins, this play
continues to provide excitement and opportunities for exploration. This new
data will extend coverage over a very lightly explored area of the pre-salt
exploration province."

The survey is acquired in partnership with BGP and is supported with industry
funding.

For further information, please contact:

Jan Schoolmeesters, COO
Email: jan.schoolmeesters@spectrumgeo.com
Tel: +47 91 77 79 61

Richie Miller, EVP Multi Client Americas
Email: richie.miller@spectrumgeo.com
Tel: +1 281 647 0602

This information is subject to the disclosure requirements pursuant to section 5-12 of the 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: Spectrum ASA via Globenewswire

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