Fjord Defence Group ASA

Regulatory Filings • Feb 24, 2020

Axxis Geo Solutions awarded a letter of intent

Axxis Geo Solutions awarded a letter of intent

24 February 2020, Lysaker

Axxis Geo Solutions ASA (OSE: AGS) has signed a Letter of Intent (LOI) with a major international oil company to commence an Ocean Bottom Node (“OBN”) survey in the North Sea. Subject to fulfillment of certain conditions, the work is expected to commence in the second quarter of 2020. The scope of work will include acquisition of 67 km2 of receiver area, comprising of approximately 30 days of operation for an OBN crew consisting of two seismic vessels.

“This LOI confirms AGS’ ability to continue to be awarded work by utilizing it’s unique asset-light operational model coupled with best in class operational excellence demonstrated in recent campaigns by our dedicated crew personnel”, says Lee Parker, CEO of AGS.

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

Contacts

Lee Parker, CEO

Lee.parker@axxisgeo.com

+1 832 275 7258

Svein Knudsen, CFO

Svein.Knudsen@axxisgeo.com

+47 906 94 170

About AGS

Axxis Geo Solutions (AGS) is a pure-play ocean bottom node seismic company uniquely positioned to pursue both contract and multi-client seismic. AGS specializes on delivering tailored seismic solutions and flexible project management and execution to oil and gas companies world-wide. Its operations are based on a scalable asset-light setup through chartering of vessels and nodes to complete seismic surveys.

AGS is listed on Oslo Axess and traded under the ticker AGS.

More information on www.axxisgeo.com