21/04/2017 18:19:11

POLARCUS AMANI delivered to Sovcomflot

Related content
25 Apr - 
First Quarter 2017 Report - Webcast and Conference Call
17 Apr - 
Amended Notice of Annual General Meeting 2017
10 Apr - 
Polarcus 2016 Annual Report and Corporate Social Respon..

Reference is made to the stock exchange release from Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) published 9 February 2017 regarding a Norwegian subsidiary's agreement with SCF GEO AS ("Sovcomflot") for a 5 1/2 year bareboat charter (the "Charter").

The Company is pleased to announce that the Charter agreement between Polarcus Amani AS and Sovcomflot has been signed and the vessel delivered to Sovcomflot today in Bergen. The vessel was delivered without streamers, providing the Polarcus fleet with one excess streamer package, which will significantly reduce capital expenditure requirements through 2017 and 2018.

Following delivery of the vessel to Sovcomflot, the Polarcus Group has two vessels on long-term bareboat charter and operates a fleet of four vessels in the contract market.

Duncan Eley, Group CEO said: "We are very pleased that Sovcomflot has taken a second Polarcus vessel on bareboat charter, reinforcing our collaboration with a strategic client. We see this as a strong endorsement of our vessels' capabilities and suitability for state of the art seismic data acquisition. Importantly, this agreement delivers significant positive cash flow throughout the charter period. Our two vessels on long-term bareboat charter provide a total fixed backlog in excess of $100 million with no associated operating costs."

 

Contacts

Duncan Eley, CEO

+971 4 436 0800

duncan.eley@polarcus.com

Hans-Peter Burlid, CFO

+971 50 559 8175

hp.burlid@polarcus.com

 

About Polarcus

Polarcus (OSE: PLCS) is an innovative marine geophysical company with a pioneering environmental agenda, delivering high-end towed streamer data acquisition and imaging services from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions and employs nearly 500 professionals worldwide. The Company's principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com

 

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


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Polarcus Limited via Globenewswire

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
Ingen indlæg

Majedie Asset Management Ltd : Form 8.3 - TESCO PLC

27/04/2017 15:52:23
*** AMENDS PREVIOUS DISCLOSURE *** FORM 8.3   PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code")   1.         KEY INFORMATION   ..

Alliance Trust PLC : Net Asset Value(s)

27/04/2017 13:47:13
ALLIANCE TRUST PLC                                    At the close of business on Wednesday 26 April 2017: The Company's NAV per ordinary share, valued on a bid price basis with Debt at Par, was -       excluding income, 721.0p -       including income, 728.5p  The Company's NAV per ordinary share, valued on a bid price basis with Debt at Fair Value, was -       excluding inc..

Admiral Group PLC : Result of AGM

27/04/2017 09:21:14
  ANNUAL GENERAL MEETING RESULT The 2017 Annual General Meeting of Admiral Group Plc was held at Cardiff City Hall, Cardiff, CF10 3ND on Wednesday 26th April 2017 at 2:00pm. All resolutions were decided on a poll and all resolutions proposed at the Meeting were passed.   Resolutions Votes For ..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Hamilton Thorne Reports Record Revenue Growth for Quarter and Year-Ended December 31, 2016
2
Check Point Software Technologies Reports First Quarter 2017 Financial Results
3
Thinfilm Readies for Industrial IoT Market Through Key Partnerships with Socket Mobile, Famoco, and SpringCard
4
Admiral Group PLC : Result of AGM
5
SDRL - Filing of 2016 Annual Report on Form 20-F

Related stock quotes

Polarcus Limited USD0.01 0.040 0.0% Stock price unchanged
Polarcus Ltd 0.270 0.0% Stock price unchanged

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2017   Disclaimer and Terms of Use
Quote information is delivered by Interactive Data.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
28 April 2017 07:24:45
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: ReleaseCandidateBuild_20170427.1 - EUROWEB5 - 2017-04-28 08:24:45 - 2017-04-28 07:24:45 - 1000 - Website: OKAY