Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) is pleased to announce that the Company has signed a Letter of Intent ("LOI") with an undisclosed client for a 3D marine seismic project on the UKCS utilizing Polarcus' RightBAND(TM) technique for broadband data acquisition.
The project, subject to the execution of a service contract, will commence in Q2 2015 and is expected to run for approximately 25 days, with an option for a second project immediately following of approximately 16 days.
Rod Starr, CEO Polarcus
+971 4 436 0800
Tom Henrik Sundby, CFO Polarcus
+971 50 708 6480
Polarcus (OSE: PLCS) is an innovative marine geophysical company with a pioneering environmental agenda, delivering high-end towed streamer data acquisition and imaging services from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions and employs over 600 professionals worldwide. 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)