Dolphin increases Loan Facility to USD 93 million for financing of new seismic equipment

Oslo,Norway, 12 November 2013 - Dolphin Group ASA (OSE:DOLP)

Dolphin Geophysical AS, a wholly-owned subsidiary of Dolphin Group ASA, has today entered into a term sheet with DNB Bank ASA and SpareBank 1 SR-Bank ASA, which contemplates an increase of the existing Loan Facility by USD 20 million to the total amount of USD 93 million. Currently  USD 50 million is undrawn and available to finance the seismic equipment for the vessels  Polar Marquis (the new "Geo Atlantic") and Sanco Sword, both vessels to be delivered in 2014.

The new terms allow for a potential third party to provide additional seismic equipment financing, which will mean that the DnB/SR-Bank facility can  be used for the "Super Duke", the final vessel of Dolphin's existing business plan (planned delivery 1H 2015).

The availability of the facility is subject to final loan documentation.

Further details of this increased Term Loan Facility will be integrated in the Q3 report and presentation to be released 13 November 2013.

For further information, please contact:

Erik Hokholt, CFO
Mobile:+47 90 75 60 64
E-mail:erik.hokholt@dolphingeo.com

Atle Jacobsen, CEO
Mobile:+47 97 71 53 36
E-mail:atle.jacobsen@dolphingeo.com

Phone:+47 55 38 75 00
www.dolphingroup.no
www.dolphingeo.com

Dolphin Group ASA is the parent company of Dolphin Geophysical AS, a global full-range, asset light supplier of marine geophysical services. Dolphin operates a fleet of new generation, high capacity seismic vessels and offers contract seismic surveys and Multi-Client projects and processing services on a worldwide basis. Dolphin Group ASA is listed at Oslo Stock Exchange (OSE ticker: DOLP).