Polarcus Limited: Patent claim received in Australia
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
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
Caleb Raywood, General Counsel
+971 50 189 7146
Hans-Peter Burlid, CFO
+971 50 559 8175
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
Companys principal office is in Dubai, United Arab Emirates. For more
information, visit www.polarcus.com
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Polarcus Limited via Globenewswire