Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) announces that the Company has secured high industry prefunding for a multi-client project in Australia with an approximate duration of one month.

The project will commence in Q1 2020 immediately following completion of the XArray^TM project in Australia previously announced on 1 October 2019.

Contacts

Hans-Peter Burlid, CFO
+971 50 559 8175
hp.burlid@polarcus.com

Lars Oestergaard, COO
+971 54 791 0564
lars.oestergaard@polarcus.com

About Polarcus

Polarcus (OSE: PLCS) is an innovative marine geophysical company with a pioneering environmental agenda, delivering high-end towed streamer data acquisition and imaging services from Pole to Pole. Polarcus operates a fleet of high performance seismic vessels with 3D and 4D imaging capabilities, which incorporate leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions. The Company services its clients globally from its head office in Dubai and regional offices located in Houston, London and Singapore. For more information, visit www.polarcus.com

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.