Magseis to Conduct Seabed Seismic Acquisition for Hess Denmark

Magseis has been awarded a contract by Hess Denmark ApS for seabed seismic acquisition in the southern part of the North Sea using the company’s proprietary MASS system and the Artemis Athene.

The duration of the contract is estimated between 45 – 60 days and work will commence upon completion of the ongoing Oseberg and Gullfaks surveys.

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

Magseis is a rapidly growing Norwegian geophysical company which has developed new technology for ocean bottom seismic (“OBS”) acquisition. The Company’s proprietary Marine Autonomous Seismic System (“MASS”) has been developed with the purpose of significantly improving the efficiency of OBS operations. The Company is headquartered in Oslo, Norway and has offices in Bergen, Norway and Stockholm, Sweden.

Press Release, August 29, 2014