First 3D Contract Award for Dolphin Geophysical

Dolphin Geophysical AS a 100% owned subsidiary of Dolphin Group ASA (OSE ticker: DOLP) has signed a Letter of Intent with TGS-NOPEC Geophysical Company ASA (OSE ticker: TGS) for the charter of the high-capacity 3D seismic vessel Polar Duke. The charter will begin in May 2011 and will last for a minimum of 3 months. The agreement also provides an option for TGS to extend the charter in two increments of 2 and 6 months respectively, under agreed commercial terms.
 
"This first 3D project is an important event in moving the company into an operational mode" commented Atle Jacobsen, CEO. "We are confident in our operational readiness and look forward to being able to showcase our ability to deliver results to both TGS and prospective customers."

This information is subject of the disclosure requirements acc. to §5-12 (Norwegian Securities Trading Act).

For further information; please contact:

Atle Jacobsen, CEO  
Mob:+47 97 71 53 36

Erik Hokholt, CFO
Mob:+47 90 75 60 64


Dolphin Geophysical AS
Solheimsgaten 13
5058 Bergen

Tel.:+47 55 38 75 00

www.dolphingeo.com


Dolphin Group ASA
Olaf Helsetsvei 6
0619 OSLO

Tel:+47 23 16 70 00

www.dolphinics.com