Spectrum extends agreement with Seabird


(Oslo, August 17th, 2012) Spectrum secures long-term 2D seismic acquisition capacity for Multi Client library expansion from SeaBird.

Spectrum  ASA 'SPU'  has signed an extension to the frame  agreement with SeaBird Exploration 'SBX',  for acquisition of  2D seismic data, The award under the new extended frame agreement amounts to USD30m over the next 48 months.

"Securing flexible access to vessel capacity greatly facilitates our planning of new 2D acquisition projects, CEO Rune Eng said in comment. "And we have a very positive experience working with Seabird."

About Spectrum

Spectrum ASA 'SPU' is a global provider of  multi-client seismic surveys, marine acquisition  and seismic data processing to the global oil and gas industry from offices in Norway, UK, US, Brazil, China, Egypt, Jakarta and Singapore. SPU designs, acquires and processes seismic data to deliver high quality solutions through its dedicated and experienced workforce.

SPU's data processing division offers 2D and 3D, land and marine seismic data processing in both depth and time.


For further information or questions, please contact

Jan Schoolmeesters, COO, Spectrum
Email: jan.schoolmeesters@spectrumasa.com
Tel: +47 23 01 49 60

or

Arne Helland, EVP Strategy & Business Development
Email ; arne.helland@spectrumasa.com
Tel : +47 91 88 78 29

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