January 24, 2012: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') advises that the Company yesterday re-purchased a total of $2,000,000 of nominal value of its Convertible Bonds (the CBs') with ISIN NO 0010402761 at a price of 99.75% of nominal value.
Following the transaction PGS owns $222,500,000 of CBs representing 55.6% of the total outstanding issue, and 1,223,921 shares.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.