Investor News Story

Spectrum ASA: Spectrum Commences the Ceara Basin 2D Multi-Client Seismic Survey Offshore Equatorial Margins of Brazil (2017-10-16T08:38:00 CET)

Spectrum is pleased to announce the commencement of a 6,000 km Multi-Client 2D seismic survey covering the Ceara Basin within the Equatorial Margins of Northern Brazil, which contains sectors of the 15th licensing round.

Data is being acquired with a 12,000 m streamer with continuous recording to enable extended recording lengths and high fold data to enable full interpretation from Moho to water bottom. The data will be processed with PSTM, PSDM and Broadband products with first deliveries in Q1 2018.

Richie Miller, EVP Multi-Client Americas, comments, "We have commenced our next 2D acquisition campaign in Brazil with the BGP Challenger, starting in the prospective Ceara Basin to cover an open sector that is available in Round 15, expected to close in Q2 2018. When the survey is completed it will provide a continuous modern long-offset ten kilometer grid from the border with French Guiana to the eastern extent of the Potiguar Basin."

This survey is being carried out in partnership with BGP Marine.

For further information, please contact:

Jan Schoolmeesters, COO
Tel: +47 91 77 79 61

Richie Miller, EVP Multi-Client Americas
Tel: +1 281 647 0602

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.