Polarcus Tapped for 3D Seismic Acquisition Off West Africa

Polarcus has received a Letter of Award from a leading independent oil company for a two month 3D seismic acquisition project offshore West Africa. The project is provisionally allocated to Polarcus Naila, the Company's second 12 streamer 3D seismic vessel, for acquisition commencing in Q1 2010.

"This is an important award that starts to establish backlog for our second 3D seismic vessel," commented Rolf Ronningen, CEO Polarcus. "We are very pleased to have been entrusted with this work and we look forward to demonstrating our capabilities through a successful project delivery."

The award is contingent upon final governmental approval and the execution of a service contract.