Strategic initiatives to meet weak market fundamentals
With reference to communications previously released, Dolphin continues to explore a possible financing or sale of the company's multi-client library. Dolphin has received a non-binding term sheet in regards to financing the multi-client library, and has also received interest for sale of part of or alternatively the entire Multi Client data library, at terms reflecting the current market.
Dolphin is currently evaluating these offers together with other strategic and financial alternatives to strengthen the Company's financial position. This includes among other restructuring of the Company’s debt and obligations, and raising new capital.
The objective for Dolphin is to maximise value to all stakeholders, meet its obligations and to create a platform for growth post current market downturn.
Dolphin has appointed Pareto Securities AS as financial advisor in this process.
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 22 07 15 30
Fax: +47 22 07 15 31
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, Multi-Client projects and processing services on a worldwide basis.
Dolphin Group ASA is listed at Oslo Stock Exchange
(OSE ticker: DOLP)