Key Developments: Spectrum ASA (SPU.OL)

SPU.OL on Oslo Stock Exchange

29.50NOK
19 Dec 2014
Price Change (% chg)

kr1.10 (+3.87%)
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kr28.40
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Latest Key Developments (Source: Significant Developments)

Altor buys 23.3 pct in Spectrum
Wednesday, 17 Dec 2014 02:15am EST 

Spectrum ASA:Altor Fund IV (via Altor Invest 1 AS and Altor Invest 2 AS) has on Dec. 17 acquired 10 million shares in Spectrum, corresponding to 23.3 pct of Spectrum shares outstanding.Following the acquisition, Altor holds 10 million shares in Spectrum.Solan Capital AS, a company controlled by Spectrum board member Gunnar Hvammen, sold 1.5 million Spectrum shares at 29 Norwegian crowns per share.Following sale, Hvammen and associated companies have holding of 1,653,695 Spectrum shares, corresponding to about 3.87 pct.Ferncliff Listed DAI 1 AS, company controlled by Spectrum board member Oystein Stray Spetalen, sold 6.1 million Spectrum shares at 29 Norwegian crowns per share.Says after transaction Oystein Stray Spetalen and associated companies have a total holding of 4,181,183 Spectrum shares corresponding to 9.76 pct.  Full Article

Spectrum ASA commences 2D multi-client deep water infill project offshore Uruguay
Tuesday, 25 Nov 2014 03:56am EST 

Spectrum ASA:Spectrum commences a 3,600 kilometer 2D Multi-Client deep water infill project offshore Uruguay.Says survey is supported by industry funding.Says data is being collected by vessel BGP Challenger and will be processed in Spectrum's processing center in Houston.PreSTM and PreSDM data will be available early in Q2 2015.  Full Article

Spectrum ASA commences 2D multi-client project in Sergipe Basin offshore Brazil
Tuesday, 27 May 2014 02:00am EDT 

Spectrum ASA:Says it has commenced a 10,000 kilometer multi-client 2D seismic survey offshore Brazil in Sergipe and Alagoas basins along Eastern Margin of Brazil.New acquisition program will tie main wells in the Basins, including trecent Barra, Muriu, and Farfan discoveries in Sergipe Basin.Data is being acquired with a 10,000 meter long offset to record necessary information to understand basins' architecture as well as image prospective zones in mid and lower Cretaceous sections.Data is being collected by vessel BGP Challenger and will be processed in Spectrum's processing center in Houston.PreSTM and PreSDM data will be available in Q4.To supplement new acquisition in this active exploration area, Spectrum has completed reprocessing of 8,130 kilometers of data through both PreSTM and PreSDM and is also offering this data to industry.Survey is supported by industry funding.  Full Article

Spectrum commence Phase 2 of the Fingerdjupet-Hoop Multiclient survey, Barents Sea
Wednesday, 9 Apr 2014 04:26am EDT 

Spectrum ASA:Commences acquisition of the Phase 2 broadband 2D seismic survey in the Barents Sea Fingerdjupet-Hoop area.Says a minimum of 4,600 kilometers (km) will be acquired using the vessel Lazarev from SMNG.The acquisition is a continuation of the 2,226 km Phase 1 survey acquired in 2013.Says the company is also collaborating with ORG Geophysical AS acquiring a minimum of 5,100 km induced polarization measurements in the same area.  Full Article

Spectrum proposes FY 2013 dividend of NOK 0.75 per share
Friday, 14 Feb 2014 01:00am EST 

Spectrum ASA:Proposes dividend of 0.75 Norwegian crowns per share for FY 2013.Paid dividend of 0.6 Norwegian crowns per share for FY 2012.  Full Article

Spectrum gives Q4 2013 and full FY 2013 revenue guidance
Wednesday, 8 Jan 2014 01:00am EST 

Spectrum ASA:Expects to report Gross Revenues of about $47 million for Q4 2013 and Net Revenues after revenue share of about $37 million.Says this brings the Net Revenues for the full FY 2013 to about $141 million.  Full Article

CGG SA and Spectrum ASA announce joint multi-client survey offshore Brazil
Tuesday, 17 Dec 2013 01:30am EST 

CGG SA:Launches together with Spectrum ASA a joint, high-end BroadSeisTM 3D multi-client survey program offshore Brazil that will focus on a large proportion of open acreage in the Foz do Amazonas Basin.Says the two companies are working as equal partners on this project.Says the survey covering 11,330 square kilometers of the Foz do Amazonas will be acquired by the Oceanic Endeavour deploying Sercel's Sentinel RD solid streamer and is expected to start in January 2014.Says the high-end BroadSeis data set will be processed in CGG's Rio de Janeiro subsurface imaging center.  Full Article

Spectrum ASA Updates on Q3 2013 Financial Guidance
Thursday, 3 Oct 2013 05:17am EDT 

Spectrum ASA announced that based on preliminary figures for Q3 2013, the Company has decided to inform the market that Spectrum's Gross Revenues will be approximately USD 19 million and Net Revenues after revenue share with partners will be approximately USD 14 million for the third quarter of 2013, bringing Net Revenues for the first three quarters of 2013 to approximately USD 104 million; up 57% compared to the first three quarters of 2012.  Full Article

CORRECTION OFFICIAL - Spectrum ASA Announces Conversion of Bonds to Shares
Monday, 30 Sep 2013 02:20am EDT 

CORRECTED TO...to 1,130,700 shares...AND...to 770,932 shares...at NOK 13.6198 per share...10,240,593 shares...24.32% of shares...42,109,035 shares...INSTEAD OF...to 1,166,567 shares...AND...to 795,386 shares... at NOK 13.20113 per share...10,300,860 shares...24.43% of shares...42,169,356 shares Spectrum ASA announced that Ferncliff DAI 1 AS, a company controlled by Oystein Stray Spetalen, board member of Spectrum ASA, has on September 27, 2013 converted NOK 15,400,000 bond to 1,130,700 shares. The bonds are converted to shares at NOK 13.6198 per share. The Company also announced that Gross Management AS, a company associated to Glen Ole Rodland, board member of Spectrum ASA, has on September 27, 2013 converted NOK 10,500,000 bond to 770,932 shares. The bonds are converted to shares at NOK 13.6198 per share. After the transactions, Ferncliff DAI 1 AS, Gross Management AS and affiliated companies have a total holding of 10,240,593 shares, corresponding to 24.32% of the outstanding shares in the Company (based on 42,109,035 shares in Spectrum ASA).  Full Article

Spectrum ASA Launches Airborne Multi Client Survey in Barents Sea South East
Monday, 26 Aug 2013 02:27am EDT 

Spectrum ASA announced that the mobilization has commenced for the acquisition of an airborne gravity/magnetic/seep Multi-Client survey in the Barents Sea South East. The survey will cover the entire newly opened area with approximately 29,280 kilometers to be acquired. The survey aircraft will also carry, on an experimental basis, the new GRAVEX high-sensitivity gravity sensing system, that measures gravity and gravity gradients. Also the Seepfinder sensor, applied to detect oil-seeps from the sea floor into the water, will be introduced on the Norwegian Continental Shelf.  Full Article

BRIEF-Ferncliff Listed DAI 1 AS sells 6.1 million Spectrum shares

* Ferncliff Listed DAI 1 AS, company controlled by Spectrum board member Øystein Stray Spetalen, sold 6.1 million Spectrum shares at 29 Norwegian crowns ($4) per share

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