Polarcus Strengthens Company's Presence in Brazil

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Polarcus Limited, a seismic services company, announced Monday that it has entered into a new representation agreement effective Sept. 1 for the management of Polarcus do Brasil in Rio de Janeiro. Polarcus is now represented by Sinergeo, located on Av. Rio Branco in Central Rio, further strengthening the Company's presence within the important Brazilian market. The addition of Marcelo Fonseca and Marcos Gallotti to the Company's management team, with responsibility for in-country marketing, logistics and technical support, brings a wealth of experience and knowledge of the local exploration market to Polarcus as the Company expands its business activities in Brazil.

Marcelo is a senior level executive, with many years of international experience in management, previously serving as chief financial officer for multinational companies in Brazil and overseas prior to establishing Sinergeo to provide commercial and legal representation services for the Oil & Gas industry in Brazil.

Marcos is a PhD Geophysicist with over 25 years of experience in the Oil & Gas industry, 22 of which were spent working for Petrobras. Marcos has in-depth knowledge of seismic data acquisition, data processing and interpretation, and is familiar with all the current technology and specifically the requirements for exploration offshore Brazil.

Commenting on the appointment of Sinergeo, Richard Price, Polarcus' vice president Marketing for the North & South American Region, said, "We are very pleased to welcome Marcelo and Marcos to our team, and to have the strength of Sinergeo's experience and services to support our business as we expand Polarcus' presence in Brazil in readiness for our first seismic operations."

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