Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) announces the Company's first quarter 2019 vessel utilization as follows:
| Utilization | Q1 - 2019 | Q1 - 2018 | FY - 2018 |
| Utilization | 92% | 83% | 87% |
| By category: | |||
| Contract Seismic | 92% | 65% | 82% |
| Multi-Client | 0% | 18% | 5% |
| Transit | 6% | 11% | 10% |
| Yard | 2% | 0% | 1% |
| Standby | 0% | 6% | 2% |
Polarcus Nadia is excluded from vessel utilization subsequent to cold-stacking in April 2015.
The Company will be releasing its first quarter 2019 report on 30 April 2019 at approximately 07:00hrs CEST (09:00hrs UAE). A webcast and conference call will be hosted by Polarcus commencing at 08:00hrs CEST (10:00hrs UAE).
Contacts
Hans-Peter Burlid, CFO
+971 50 559 8175
hp.burlid@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 3D seismic vessels incorporating leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions and employs approximately 325 professionals worldwide. The Company's principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com