Investor News Story

Spectrum and TGS announce collaboration on expanded Santos Basin Multi-Client 3D Survey (2018-10-16T07:00:00 CET)

Spectrum and TGS have joined forces and expanded the Santos 3D program to 15,000 square kilometers over the prospective southern Santos Basin offshore Brazil. TGS and Spectrum will be equal partners with data processing and imaging to be performed by TGS.  The survey covers an area south of the high profile discoveries of the Santos Basin and the recent sought after blocks offered in Rounds 2,3,4,5 and 15.
Rune Eng, CEO Spectrum, comments, "Spectrum is excited to cooperate with TGS in this survey over such a highly prospective area. The two companies will be working together to unlock the southern Santos Basin for exploration. The Santos Basin is one of the hottest exploration basins in the world with a high potential for further discoveries in deep water."
Kristian Johansen, CEO TGS, comments, "TGS is extremely pleased about this collaboration with Spectrum.  This will be our second major investment in Brazil this year, expanding TGS' commitment to this significant exploration play."

For survey location and outline see, see attached file. 

www.spectrumgeo.com

Spectrum ASA
is listed on the Oslo Stock Exchange  (OSLO:SPU).

For additional information about this press release please contact:

Rune Eng, CEO 
Email: rune.eng@spectrumgeo.com
Cell: +47 915 70 845

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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