Status high-end 3D seismic vessels

Dophin is pleased to announce that the new high capacity 3D vessel, Polar Duchess, on 14th of April entered into steady production for TGS Nopec in the Barent Sea. The 6 months contract has previously been announced. The vessel is chartered on an initial 3 year time-charter from Armada Seismic from 6th April 2012, with Dolphin options to further extend the charter with additional 8 years.

Our second large 3D vessel, Polar Duke, is expected to complete our first 3D multi-client project in Senegal during first half of May. The vessel will then be relocated to the Barents Sea to start a previously announced 3D contract. The vessel was originally scheduled for exclusive contract in South America, however Dolphin was not in a position to extend the letter of award, due to uncertainty related to contract start-up. Polar Duke is currently marketed in the North Sea region with July availability.

For further information, please contact:

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

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


Dolphin Group ASA
Helsfyr Atrium
Innspurten 15
0663 OSLO

Phone:+47 23 16 70 00
Fax:+47 23 16 71 80         

www.dolphingroup.no
www.dolphingeo.com

Dolphin Group ASA has two main business areas; Dolphin Geophysical AS and Dolphin Interconnect Solutions AS. Dolphin Geophysical is a global full- range, asset light supplier of marine geophysical services and operates a fleet of new generation, high capacity seismic vessels and offers contract seismic
surveys and multi-client projects worldwide. Dolphin Interconnect is a global supplier of high performance solutions (hardware- and software) for the server and embedded systems market. Dolphin Group ASA is listed at Oslo Stock Exchange (OSE ticker: DOLP).