Polarcus Limited (OAX: PLCS) is pleased to announce that the Company is today holding a Capital Markets Day in Dubai, United Arab Emirates. Following the event, the participants will be attending a double-naming ceremony of the Company's newest 3D vessels; POLARCUS SAMUR and POLARCUS ALIMA.
Commenting on the event, Rolf Ronningen, CEO Polarcus, said: "After an eventful 2010 during which we commenced first operations, expanded our 3D global fleet and footprint and saw contract backlog grow as we proved our capabilities to the industry, we are now in a strong position to expand our market share and establish ourselves as a tier one player."
He continued "Our main objective is to generate better returns on a lower capital base - both when it comes to delivering competitive solutions to our clients as well as creating shareholder value. We believe we are starting to see the effects of the right choices we have made. Polarcus has not only the most modern fleet in the industry, right sized for the market needs, but an optimized technology base enabling us to serve our market and client needs efficiently and effectively."
The theme for the Polarcus Capital Markets Day is about making the right choices and includes the following highlights:
Polarcus has world class resources and proven capabilities
The key to project success is the score; the geophysical survey plan
Polarcus has the right assets to apply to the right survey plans
Polarcus' vessels are optimally sized for the core 3D market
Polarcus' fleet is designed to operate in the new oil frontiers
Polarcus' vessels are future-proofed for green and efficient operations
Rolf Ronningen, CEO Polarcus, +971 4 436 0800 / +971 50 459 6982
Tom Henrik Sundby, CFO Polarcus, +971 4 436 0800 / +971 50 708 6480
Polarcus 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 is launching a fleet of modern 3D seismic vessels using the innovative ULSTEIN X-BOW® design and incorporating advanced maritime technologies for improved operational efficiency with a reduced environmental footprint. Polarcus offers contract seismic surveys and multi client projects worldwide and has its principal office in Dubai, United Arab Emirates. For more information, visit www.polarcus.com
The information included herein may contain forward-looking statements. Forward-looking statements include all statements that are not historical facts, including but not limited to statements expressing or implying the Company's intent, belief or current expectations with respect to, among other things, forecasts, estimates, and predictions. Such forward-looking statements necessarily involve risks and uncertainties and are dependent on assumptions, information, data or methods that may be incorrect or imprecise. Actual results could differ materially from expectations expressed in the forward-looking statements if one or more of the underlying assumptions or expectations proves to be inaccurate or is unrealized. Some factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, developments in the oil and gas industry, the demand for seismic services, the demand for data from the Company's multi-client library, currency risks, political risks, regulatory risks, and unexpected operational setbacks. For a further description of other relevant risk factors we refer to our 2009 Annual Report. The reservation is also made that inaccuracies or mistakes may occur in the information given above concerning the current status of the Company or its business. Any reliance on the information given above is at the risk of the reader, and Polarcus disclaims any and all liability in this respect.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)