Polarcus expands operational footprint to Australasia

16 Aug 2011

Polarcus Limited (OAX: PLCS) is pleased to announce that the Company has received a contract award and a separate Letter of Intent from two undisclosed clients for 3D seismic acquisition projects in Australasia. The projects, to be acquired back-to- back by POLARCUS ALIMA, will commence in Q4 2011 and are expected to run from 5 to 7 months in total.

Contacts

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

About Polarcus

Polarcus (OAX: PLCS) 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 operates a fleet of high performance 3D seismic vessels incorporating an innovative design and advanced maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects worldwide and employs over 500 professionals. 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)