Polarcus Receives LOI from OMV

Polarcus has received a Letter of Intent from OMV (NORGE) for a 3D seismic acquisition project in the Norwegian sector of the Barents Sea. The project will be acquired by POLARCUS NAILA, the Company's second 12 streamer 3D seismic vessel. The project will commence in early August 2010 and is expected to run for approximately 25 days.