Polarcus vessel utilization for Q3 2019

Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) announces the Company’s third quarter 2019 vessel utilization as follows:

Utilization Q3-2019 Q3-2018 FY – 2018
Utilization 83% 86% 87%
By category:
Contract Seismic 83% 86% 82%
Multi-Client 0% 0% 5%
Transit 8% 12% 10%
Yard 6% 0% 1%
Standby 3% 2% 2%

Polarcus Nadia is excluded from vessel utilization subsequent to stacking in April 2015.

The Company will release its third quarter 2019 report on 5 November 2019 at approximately 07:00hrs CET (10:00hrs UAE). Following the release, CEO Duncan Eley and CFO Hans-Peter Burlid will host a presentation at Felix Konferansesenter, Bryggetorget 3, Oslo commencing at 10:00 CET (13:00 UAE). The presentation will also be available by webcast and conference call.

Contacts

Hans-Peter Burlid, CFO
+971 50 559 8175
hp.burlid@polarcus.com

 

About Polarcus

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 seismic vessels with 3D and 4D imaging capabilities, which incorporate leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions. The Company services its clients globally from its head office in Dubai and regional offices located in Houston, London and Singapore. For more information, visit www.polarcus.com

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.