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2015-12-16

Spectrum ASA: Spectrum announces 3D multi-client project offshore Australia

Spectrum (OSE: SPU) is pleased to announce the commencement of a new 3D
multi-client project over the Vulcan Sub-basin, offshore North West Shelf,
Australia.

The Cygnus 3D Survey is being acquired in collaboration with Polarcus and
DownUnder GeoSolutions, and is supported by industry funding. The survey will
comprise a minimum of 4,000 square kilometers and is designed to provide
exploration companies with a basin-wide high quality broadband 3D seismic
dataset over this proven hydrocarbon province.

Polarcus will use its XArray(TM) configuration with a 12.5m triple source shot
interval and continuous recording, delivering 33% improved cross line
sampling. Processing will be done by DownUnder GeoSolutions through a
broadband Pre-SDM workflow and final processed data will be available from
Q3, 2016 with Pre-STM fast track data available from Q1 2016.

The survey is adjacent to Spectrum's Cartier Main 3D survey, which was
acquired in 2010 and recently reprocessed to broadband PSDM. With this latest
survey, Spectrum's 3D coverage in the Australian North West Shelf will total
40,000 square kilometer of newly acquired 3D multi-client data (less than 5
years old).

"Spectrum provides innovative Multi-Client seismic surveys and high-

quality seismic imaging services to the global oil and gas industry from
offices in Norway, UK, USA, Brazil, Egypt, Australia, Indonesia and
Singapore. Spectrum designs, acquires and processes seismic data to deliver high quality solutions through its dedicated and experienced workforce.
Spectrum holds the world's largest library of Multi-Client 2D marine seismic
data and a significant amount of 3D seismic. The company's strategy focuses on both the major, established hydrocarbon-producing regions of the world as well as key frontier areas identified by our experienced team of geoscientists. The Spectrum library of Multi-Client data contains projects from many of the foremost oil producing regions of the world. These include new acquisition, reprocessing and interpretation reports."

www.spectrumgeo.com

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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