Fjord Defence Group ASA

Regulatory Filings • Mar 5, 2020

AGS announces delivery of milestone Utsira OBN project in North Sea

AGS announces delivery of milestone Utsira OBN project in North Sea

5 March 2020, Lysaker

Axxis Geo Solutions ASA (OSE: AGS) announces delivery of processed data from the northern part of the Utsira Ocean Bottom Node (OBN) multi-client project to pre-funding clients. The processing of the full survey is expected to be ready for delivery in Q3 2020.

“This delivery confirms AGS’ ability to execute complex offshore acquisitions and world class geophysical processing projects. The Utsira OBN is the world’s largest multi-client project of its kind, and we are proud to successfully complete this delivery together with our partners TGS and DUG. The delivery of the Utsira OBN library marks another milestone in the collaboration between TGS and AGS. The uplift in seismic data quality add significant value to oil companies engaged in infrastructure led exploration in the North Sea”, says Lee Parker, CEO of AGS.

During March AGS and TGS will conduct a road show in Norway and present highlights from the Utsira OBN data.

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