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TGS: TGS - Restricted shares received by Directors

ASKER, NORWAY (11 May 2016) - The Annual General Meeting of TGS held on 10 May
2016 decided that each of the Directors, other than the Chairman, should
receive 1,650 restricted shares in the Company on 11 May 2016 as part of
their compensation. One of the Directors is not permitted by own employer to
own shares in other companies. This Director will receive cash in lieu of the
restricted shares in an amount equal to the amount the other Directors will
be able to sell their restricted shares for at the closing share price on the
first day that a sale is permitted. The shares have been transferred to the
Directors today, 11 May 2016.

The attachment shows the number of restricted shares awarded on 11 May 2016
and the total number of shares held by each of the Directors.

The Company has distributed the restricted shares to the Directors from its
balance of treasury shares. Following the transfer of restricted shares to
the Directors, TGS holds 533,500 of the issued shares as treasury shares.

Company summary

TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data to
oil and gas Exploration and Production companies worldwide. In addition to
extensive global geophysical and geological data libraries that include
multi-client seismic data, magnetic and gravity data, digital well logs,
production data and directional surveys, TGS also offers advanced processing
and imaging services, interpretation products, and data integration

For more information visit TGS online at

Forward-looking statements and contact information

All statements in this press release other than statements of historical fact
are forward-looking statements, which are subject to a number of risks,
uncertainties and assumptions that are difficult to predict, and are based
upon assumptions as to future events that may not prove accurate. These
factors include TGS' reliance on a cyclical industry and principle customers,
TGS' ability to continue to expand markets for licensing of data, and TGS'
ability to acquire and process data products at costs commensurate with
profitability. Actual results may differ materially from those expected or
projected in the forward-looking statements. TGS undertakes no responsibility
or obligation to update or alter forward-looking statements for any reason.

TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange

TGS sponsored American Depositary Shares trade on the U.S. over-the-counter
market under the symbol "TGSGY".

For additional information about this press release please contact:

Sven Børre Larsen

Chief Financial Officer
Tel: +47 90 94 36 73

Will Ashby

VP HR and Communication
Tel: +1 713 860 2184 begin_of_the_skype_highlighting

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)

Restricted shares to Directors on 11 May 2016


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: TGS via Globenewswire


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