How can we explore the Russian Arctic Shelf?
David Bamford – david@windwardexploration.com Western oil & gas technical journals as well as ordinary newspapers wax lyrical over the hydrocarbon resources of the Arctic, typically referring to it as the next global frontier. Huge resource estimates are bandied about – the USGS has suggested as much as 400 billion barrels …
Polarcus expands operational footprint to Australasia
Polarcus Limited is pleased to announce that the Company has received a contract award and a separate Letter of Intent from two undisclosed clients for 3D seismic acquisition projects in Australasia. The projects, to be acquired back-to-back by POLARCUS ALIMA, will commence in Q4 2011 and are expected to run …
Polarcus takes delivery of Polarcus Selma
Polarcus Limited (OAX: PLCS) is pleased to announce that Polarcus Selma Ltd, a member of the Polarcus Group, took delivery on 08 August 2011 of POLARCUS SELMA, the sixth 3D seismic vessel to date to join the Polarcus fleet. POLARCUS SELMA is the sister ship to POLARCUS SAMUR, delivered to …
Polarcus signs strategic agreement with Russian OAO Sovcomflot
Polarcus Limited (OAX: PLCS) is pleased to announce that the Company has signed a five year Bareboat Charter Party Agreement (BBCP) with OAO Sovcomflot (SCF) of Russia. Under the terms of the BBCP Sovcomflot will charter POLARCUS SELMA, inclusive of an 8 streamer seismic equipment package, from Polarcus at a …
Polarcus 3D siesmic acquisition for the Bjarmeland Platform in the Barents Sea
Polarcus Limited is pleased to announce that the Company will commence acquisition imminently of a 3D multi-client project over the Bjarmeland Platform in the Barents Sea, offshore Norway. The project, with the potential to cover an area of up to 1,100 square kilometers, is supported through strong industry pre-funding. The …
Polarcus Q2 report and presentation
Polarcus Limited is pleased to announce the release of its second quarter 2011 financial statements. In the second quarter 2011 Polarcus has focused on strengthening the Company’s operations, backlog and balance sheet. Revenues for the second quarter are significantly higher compared to the same quarter last year due to the …
Polarcus receives Letter of Intent for 4D seismic acquisition
Polarcus Limited (OAX: PLCS) is pleased to announce that the Company has received a Letter of Intent for a 4D marine seismic acquisition project for an undisclosed client. The project, subject to the execution of a service contract, will commence in Q4 2011 and is expected to run for approximately …
Polarcus receives Letter of Intent from Wintershall
Polarcus Limited is pleased to announce that the Company has received a Letter of Intent from Wintershall Norge ASA for a 500 square kilometer 3D seismic acquisition project over PL577 in the Norwegian North Sea, offshore Norway. The project, subject to the execution of a service contract, will be acquired …
Polarcus Limited – Successful placement of convertible bond offering
Polarcus Limited is pleased to announce that, due to overwhelming investor demand, the Company has decided to close the previously announced offering of USD 125 million in principal amount of Senior Secured Convertible Bonds (the “Bonds”). The Bonds to be issued by Polarcus are convertible into common shares with an …
Polarcus Arctic operating procedures qualified by DNV
Polarcus Limited is pleased to announce that the Company has today received a Statement of Qualification from Det Norske Veritas (DNV) to qualify Polarcus’ Arctic operating procedures according to industry best practice and relevant standards. The Statement of Qualification was presented to Polarcus at the 7th Annual Arctic Shipping Summit …