Arrow Seismic to Convert Cargo Vessel to Source Vessel

Arrow Seismic ASA has entered into agreement to purchase the 1993 built cargo vessel "Lisbeth C." The purchase price is identical to the price for the two sister vessels "Polar Explorer" and "Karin B" acquired by Arrow late 2006.

Arrow is planning to convert and renew the vessel to a source vessel of high standard in order to meet the requirement of safety and comfort from the oil exploration industry. The size of the vessel (92m x 17m) is sufficient for a further rigging of streamer winches as mullti streamer 3D vessel. This alternative is being evaluated, depending on availability of propulsion upgrade.

Arrow Seismic ASA develops, owns and operates advanced special-purpose vessels for the marine seismic industry. Arrow owns five vessels and has contracted four special-purpose high capacity seismic vessels for delivery in 2008/09. The company's registered business office is in Bergen, Norway.

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