Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) announces that it has accepted service of court proceedings filed by PGS Australia Pty Ltd relating to the acquisition of seismic data on 3 surveys in Australia and the processing of that data.

These proceedings follow 3 years of intermittent correspondence from PGS in response to which Polarcus, supported by leading patent counsel, has provided overwhelming evidence that Polarcus' activity did not intersect the patent. The claim will be vigorously contested and has no impact on any project outside Australia. 

PGS' principal claim under its patent has previously been held to be unpatentable by the United States Patent and Trademark Office and Polarcus intends to challenge the validity of all relevant aspects of PGS' Australian patent.  

Contacts

Caleb Raywood, General Counsel
+971 50 189 7146
caleb.raywood@polarcus.com

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 350 professionals worldwide. The Company's principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com