Oslo, Norway 6 June 2014. Reference is made to the announcement by Oslo Stock Exchange that Magseis has been admitted to list its shares on Oslo Axess under the ticker “MSEIS” with Friday June 6 as the first day of trading.
Magseis has since 2009 developed an industry leading proprietary OBS (Ocean Bottom Seismic) technology. The company has one purpose built vessel in operation, Artemis Athene, which started its first survey for Statoil in the fourth quarter 2013. During the first half of 2014, Magseis has successfully completed the Albatross and Varg surveys for Statoil and Talisman – delivering excellent data quality and establishing the ability to work near complicated infrastructure. Work has now commenced on the Oseberg and Gullfaks fields for Statoil and the company is well-positioned to deliver profitable growth in 2014 and beyond. The company firmly believes that in a rapidly growing market for production related seismic services, Ocean Bottom Seismic will capture an increasingly larger market share due to the significant advantages in data quality.
“We regard the listing on Oslo Axess as an important milestone for Magseis as it marks the start of a new growth phase with our now field-proven system. The next twelve months will be an exciting period in our development with the ongoing upgrade of capacity on Artemis Athene as well as the start-up of our second crew during 2015” says CEO Ivar Gimse.
For further information, please contact:
Ivar Gimse, CEO
Tel: +47 91 83 92 69
Mikkel Ektvedt, CFO
Tel: +47 91 84 84 88