Investor News Story

Spectrum ASA: Spectrum Begins Shallow Water 3D Seismic Program Offshore North Gabon (2018-01-03T15:03:37 CET)

Spectrum, in collaboration with the Direction Generale des Hydrocarbures (DGH), has commenced the next phase of its shallow water 3D Multi-Client seismic acquisition campaign offshore Gabon with a 3D survey in the north of the country.

The campaign is focused on acquiring seismic programs in under-explored shallow water open blocks with the objective of offering the most up-to-date 3D imaging of the area. The DGH intends to make these blocks available through future shallow water license rounds so to accelerate exploration; this data will facilitate immediate activity when the blocks are awarded.

Up to 5,500 km2 of long offset broadband seismic data will be acquired alongside gravity and magnetic recordings. This follows the 11,400 km2 Gabon South 3D survey completed earlier this year and complements over 20,000 km of 2D Multi-Client seismic data offshore Gabon also held by Spectrum on behalf of the DGH, which gives a regional overview and highlights key areas of exploration.

Spectrum EVP of the Africa Region, Graham Mayhew commented, "Large areas of shallow water Gabonese acreage remain unexplored due to the inability of 2D seismic to image structures in the pre-salt, and the lack of modern 3D data. Our new Multi-Client 3D seismic will provide oil companies with new insight into the hydrocarbon prospectivity of these open blocks. "

The new 3D data will be processed with PSTM, PSDM and Broadband products with first deliveries in early Q3 2018 ahead of anticipated licensing rounds. The survey is carried out in partnership with China Oilfield Services (COSL).

Outline of the survey is included in the attached document.

For further information, please contact:

Jan Schoolmeesters, COO
Email: jan.schoolmeesters@spectrumgeo.com
Tel: +47 91 77 79 61

Graham Mayhew, EVP Africa, Med and Middle East
Email: graham.mayhew@spectrumgeo.com

Tel: +44 1483 730201

About Spectrum

Spectrum provides innovative Multi-Client seismic surveys and high-quality seismic imaging services to the global oil and gas industry from offices in Norway, the UK, USA, Brazil, Egypt, Australia, Indonesia and Singapore.Spectrum designs, acquires and processes seismic data to deliver high quality solutions through its dedicated and experienced workforce.
Spectrum holds the world's largest library of Multi-Client 2D marine seismic data and a significant amount of 3D seismic. The company's strategy focuses on both the major, established hydrocarbon-producing regions of the world as well as key frontier areas identified by our experienced team of geoscientists. The Spectrum library of Multi-Client data contains projects from many of the foremost oil producing regions of the world. These include new acquisition, reprocessing and interpretation reports.

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

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