Geoex Ltd successfully completes the voluntary offer to acquire all outstanding shares in MultiClient Geophysical ASA

19 April 2017

Reference is made to

Geoex Ltd's ("Geoex") voluntary cash offer (the "Offer") for all outstanding shares of MultiClient Geophysical ASA ("MCG") made on 19 January 2017, as amended.

The acceptance period under the Offer expired yesterday, 29 March 2017, at 16:30 CET. Following expiry of the acceptance period, Geoex has received acceptances of the Offer from shareholders holding 85,802,501 shares in MCG, representing approximately 92.4% of the issued and outstanding shares in MCG.

Geoex hereby confirms that the conditions for completion of the Offer, as set out in section 4.4 of the Offer Document, have been satisfied and/or waived by Geoex and that Geoex will complete the Offer as set out in the Offer Document, as amended.

Settlement of NOK 1.40 per share in MCG will be made to the accepting shareholders within 14 calendar days, i.e. no later than on 13 April 2017.

Geoex intends to, as soon as practically following completion of the Offer, carry out a compulsory acquisition of the remaining shares in MCG in accordance with section 4-25 of the Norwegian Public Limited Companies Act and section 6-22 of the Norwegian Securities Trading Act and have the shares of MCG delisted from the Oslo Axess.

Aabø-Evensen & Co Advokatfirma AS is acting as legal advisors to Geoex Ltd in connection with the Offer.

For additional information please contact:

Geoex Ltd:

Pierre Benichou, Chairman of the Board

Telephone: +44 7545 336930


About Geoex Ltd:

Geoex is a multi-disciplinary geophysical and geological services company whose core business consists of multi-client projects and data management solutions, centered on the Atlantic margins.

Geoex's portfolio of services starts with an evaluation of new potential areas, including all geophysical services up to the final stages of marketing and promoting new data and assets. Geoex's activity is focused on providing support to Oil & Gas companies and governments to develop an efficient exploration strategy. Geoex is a firm believer in new technology and partner with innovative service providers to enhance our coverage of the complete range of geophysical services.

Geoex was founded in 2003 and is made up of experienced geophysicists who have worked for major geophysical contractors.

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