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USA: Dolphin Geophysical Buys OGI

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Dolphin Group ASA  announces that through their subsidiary Dolphin Geophysical Inc.(US) the company have purchased the entire stock of Open Geophysical Inc. (OGI).

OGI develop and sell seismic processing software and has an existing client base including both major oil companies and seismic contractors. The software is purpose built for modern computer architectures and has an industry leading graphical user interface. It thus provides users with an efficient, cost effective and easy to use seismic processing platform. The newly developed software is already being used on the Polar Duchess for real time Quality Control of acquired data with impressive performance and in Dolphin’s new processing centre established in London.

All Dolphin vessels will be upgraded to the OGI software over the coming months. It will be used for on-board fast track, proprietary processing on the Duchess in the near future and to produce a high-end, fast track product on all future multi-client projects.

R. Gareth Williams, Chief Geophysicist of Dolphin said; “We are extremely excited to be investing in OGI and to be using the Open CPS software for both our on board and onshore, marine processing package. This is a major step towards developing our processing and multi-client services and hence capturing the full value chain in those businesses. We carefully reviewed all the available software platforms and this is a rare opportunity to work with a system designed completely in the 21st century. In addition, we see significant opportunities to support and grow the existing software sales business of OGI and are fully committed to supporting their current customers.”

Roland Gunther and Eric Foley, co-founders of OGI stated “Working with Dolphin will provide us with the opportunity and financial strength to increase the pace of development of our software and to benefit from working closely with an experienced team. We look forward to providing increased levels of support and technology to our current and future customers who are working with both land and marine seismic data. We expect OGI to benefit from the increased global exposure for the software via Dolphin’s multi-client and proprietary projects”

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Polarcus Receives LoI for 3D Seismic Project Offshore NW Europe

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Polarcus Limited announces that the Company has received a Letter of Intent from an undisclosed client for a 3D seismic acquisition project offshore NW Europe.

The program will commence imminently and is expected to run for approximately 75 days.

About Polarcus

Polarcus is a pure play marine geophysical company with a pioneering environmental agenda, specializing in high-end towed streamer data acquisition from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating an innovative design and advanced maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects worldwide and employs over 500 professionals. The Company’s principal office is in Dubai, United Arab Emirates.

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ION Provides Better Insight in Brazil’s Offshore Potential

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ION Geophysical Corporation has added an additional 8,000 kilometers of regional seismic data to its Greater BrasilSPAN™ program in the Equatorial Margin offshore northern and northeastern Brazil.

To be processed by ION’s GX Technology data processing group, this new data adds to the approximately 17,600 kilometers of data the company acquired in the region in 2009 and brings the total number of kilometers in the company’s BrasilSPAN portfolio to over 50,000.

Recent major discoveries in West Africa’s Ghana and Ivory Coast, which are geologically similar to Brazil’s Equatorial Margin basins, have increased interest among oil & gas companies in the conjugate margin in northern Brazil. ION’s Greater BrasilSPAN provides E&P companies with a better understanding of the orientation of the transform and growth faults and the deposition environment of the key basins from Foz do Amazonas to Potiguar.

Ken Williamson, Senior Vice President of ION’s GeoVentures group, commented, “Our BrasilSPAN program provides E&P companies with a regional depth-imaged framework to better understand the hydrocarbon potential offshore Brazil. But the dataset is also of great value to E&P operators in Africa, as it reveals striking similarities in the structural framework of the petroleum systems on both sides of the Atlantic Margin.”

The second phase of ION’s Greater BrasilSPAN program will be available in the third quarter of 2012, in anticipation of the 11th Brazilian licensing round expected to be announced in early 2012.

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Polarcus Samur En Route to West Africa

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Polarcus Limited, a pure play marine geophysical company with a pioneering environmental agenda, specializing in high-end towed streamer data acquisition from Pole to Pole announces, has signed a Letter of Intent with an undisclosed client for a 3D seismic acquisition project offshore West Africa.

The project, to be acquired by POLARCUS SAMUR, will commence in late January and is expected to run for approximately 40 days.

Delivered Q1 2011 Polarcus Samur is an ultra-modern and Arctic-ready 8 streamer 3D vessel capable of towing both conventional and wide tow spreads, including Polarcus’ First Pass™ 3D technique requiring lateral streamer separations of 200m. Built to the ULSTEIN SX133 design and incorporating the innovative ULSTEIN X-BOW® hull, this vessel combines the latest developments in maritime systems with the most advanced seismic and source technol-ogy commercially available. The vessel is also amongst the most environmentally sound seismic vessels in the market with diesel-electric propulsion, high specification catalytic convertors, a double hull and advanced ballast water treatment / bilge water cleaning systems. The vessel complies with the stringent DNV CLEAN DESIGN notation.

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Polarcus Nadia Set for West Africa Work

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UAE based company specializing in high-end towed streamer data acquisition, Polarcus Limited, has signed a Letter of Intent with an undisclosed client for a 3D seismic acquisition project offshore West Africa.

The project, to be acquired by ULSTEIN SX124 design vessel, Polarcus Nadia, will start this month and is expected to run for approximately 30 days.

Delivered in 2009 Polarcus Nadia is an ultra-modern 12 streamer 3D/4D seismic vessel. Built to the ULSTEIN SX124 design and incorporating the innovative ULSTEIN X-BOW® hull, this vessel combines the latest developments in maritime  systems with the most advanced seismic technology commercially available. The vessel is also amongst the most environmentally sound seismic vessels in the market with diesel-electric propulsion, high specification catalytic convertors, double hull, and advanced bilge water cleaning system. This vessel complies with the stringent DNV CLEAN DESIGN notation.

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UAE: TGS to Charter Seismic Vessel Polarcus Amani

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Polarcus Limited, a Dubai-based marine geophysical company, has signed a Letter of Intent with TGS-NOPEC Geophysical Company ASA (TGS) for the charter of the 12 – 14 streamer 3D seismic vessel POLARCUS AMANI. The charter, of minimum 5 months duration and subject to the execution of a service contract, will commence in April 2012 immediately after vessel delivery and shakedown.

POLARCUS AMANI is the first of two 12 – 14 streamer 3D seismic vessels ordered in November 2010 from Ulstein Verft AS of Norway. The vessels are being built to the ULSTEIN SX134 design and feature a high ice class (“ICE 1A super”), increased propulsion and other innovative efficiency enhancing features. The two newbuilds are scheduled for delivery end Q1 and end Q2 2012 respectively.

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RXT Enters LOI for Seismic Acquisition Offshore West Africa

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The multi-component seismic company Reservoir Exploration Technology ASA (RXT) has entered into a LOI with an international oil company regarding acquisition of 4C seismic data in West Africa. The intention is to conclude the final contract during May and start up of the project will be in Q2.

The work is estimated to take 4-5 months, depending on the final lay out of the acquisition design. The final contract is subject to board and government approvals.

About RXT:

Reservoir Exploration Technology ASA (RXT) is the only marine geophysical company specializing in multi component seismic seafloor acquisition.

Multi-component seismic solves several imaging challenges that cannot be resolved with towed streamer seismic, and targets improved oil recovery from existing fields. The technology also gives better data quality for appraisal and development, and is also the solution where towed streamers are impractical due to high density of platforms and/ or shallow waters. The Company has offices in Oslo, Norway in Rio de Janeiro, Brazil in Abu Dhabi, UAE and Houston, Texas.

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