Dolphin Group As News

Seismic vessel operator Dolphin Group AS reported its financial results for the third quarter 2013. Atle Jacobsen, Dolphin Group CEO commented, "Dolphin delivered solid operating margins for third quarter with EBIT of 25%, driven by improved contract prices and high vessel efficiency. As for the entire seismic industry, Dolphin also experienced low Multi-Client late sales and a competitive market for new projects in the quarter. The seismic market has recently been challenging and will impact our Q4 2013 and Q1 2014.

Dolphin Geophysical has secured a 3D contract award from an undisclosed client for work in the North Sea. The survey will be acquired by the high capacity 3D vessel M/V Polar Duke, commencing in August for the duration of approximately five weeks. "We now have a full backlog for the Summer Season", says Håvard Åsli, Regional Marketing and Sales Manager for North Europe, "with all of our vessels working in the North Sea region and busy into Q4". Norway's Dolphin Group ASA is the parent company of Dolphin Geophysical AS, a global full-range, asset light supplier of marine geophysical services.

• Encouraging organic growth in Dolphin processing, external contract revenues of $1.9 million for Q1 confirming market acceptance. Atle Jacobsen, Dolphin Group CEO, commented, “Dolphin continues to deliver solid earnings from a fleet, which is soon to be doubled in size. We experience improved market conditions ahead and Dolphin becomes an even more attractive service provider as major clients experience our efficient operations with modern high capacity vessels. Further Atle Jacobsen (CEO) and Erik Hokholt (CFO) will give a presentation of the quarterly results at Hotel Continental, Stortingsgaten 24-26, and Oslo at 9:30 a.m. (CET). The presentation is open to the public. The company’s full results and presentation can be viewed online here.

Atle Jacobsen, the CEO of Dolphin Geophysical, is, in many ways, a bit of a paradox. An experienced, no-nonsense, veteran of the marine seismic surveying industry, he is also disarmingly easy to “talk shop” with, engaging and has an obvious thirst for new ideas and technology. But the core contradiction lies in his approach to business. This is a man that shows no qualms about ripping up the rulebooks and making brave decisions, but at the same time there is a steadfast caution that underpins the very essence of the Dolphin business model.

Dolphin Group ASA,  headquartered in Norway, awarded multiple North Sea 3D seismic contracts for 2013. Dolphin has been awarded several contracts for the upcoming North Sea season. The awards are for both 3D and 4D seismic services and will involve three of its 3D seismic vessels with a total duration in the range of 8-12 months. Dolphin sat they will revert with further contract details when they present their 2013 guidance on or about 8 January 2013. "These early awards with…

· Dolphin successfully enters into and completes the  first 3D Multi-Client survey in Norway. Atle Jacobsen, Dolphin Group CEO, commented: 
"There is strong market demand for Dolphin's marine  
seismic services. "From day one, Dolphin has emphasised the importance  
of building a strong internal geophysical and Multi- 
Client business competence. This strategy works. Today our Multi-Client seismic model is being  
recognised by an increasing number new global clients  
and governmental authorities.

Dolphin Geophysical accepted a Letter of Award from TGS-NOPEC Geophysical Company ASA for a six-months charter of the new high-capacity 3D seismic vessel, M/V Polar Duchess. The contract is expected to begin during first half of April and continue through a full 2012 summer season in Europe. Atle Jacobsen, CEO said, "We experience positive development in demand for high capacity 3D seismic vessels and this large contract for our second new 3D vessel is an important milestone in the fast growth phase of Dolphin Group.