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Spectrum ASA (SPU.OL)

SPU.OL on Oslo Stock Exchange

21 Jul 2016
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Latest Key Developments (Source: Significant Developments)

Spectrum expects lower net revenues for Q2
Tuesday, 12 Jul 2016 01:30am EDT 

Spectrum ASA :Expects to report net revenues of approximately $14 million for 2nd quarter of 2016 ($35 million in Q2 2015)..  Full Article

Spectrum in agreement to amend amortization schedule on company's term loan facility
Friday, 1 Jul 2016 02:15am EDT 

Spectrum ASA : Has entered into an agreement to amend amortization schedule on company's term loan facility . With new repayment schedule term loan is amortized $10 million in Q2, $10 million in Q3 2016 and $15 million in Q1 2017 . Previous amortization schedule was of $15 million in Q2 2016 and $20 million in Q3 2016 . Based on preliminary figures for Q2 2016, management expects to report a cash balance of about $15 million after Q2 2016 term loan payment of $10 million .In addition, Spectrum has obtained a waiver for NIBD/EBITDA - MC capex covenant for Q2 2016.  Full Article

Spectrum to commence 2D multi-client project offshore Brazil
Wednesday, 30 Mar 2016 03:31am EDT 

Spectrum ASA:To commence 2D multi-client project in Amazonas and Para Maranhao basins along the Equatorial Margin of Brazil.PreSTM, PreSDM and Broadband products will be available in Q4 2016.Says survey is acquired in partnership with BGP.  Full Article

Spectrum says dividend will be considered in Q4 2016
Friday, 12 Feb 2016 01:16am EST 

Spectrum ASA:Board recommends that dividend will be considered in Q4 2016, after amortization of the current loan facility in Q2 and Q3‍​.  Full Article

Spectrum ASA gives Q4 net revenues guidance
Tuesday, 12 Jan 2016 09:00am EST 

Spectrum ASA:‍Says based on preliminary figures for Q4 2015, management expects to report net revenues of about $42 million for quarter ($48 million in Q4 2014).  Full Article

Spectrum ASA announces 3D multi-client project offshore Australia
Wednesday, 16 Dec 2015 01:15am EST 

Spectrum ASA:New 3D multi-client project over Vulcan Sub-basin, offshore North West Shelf, Australia​.Cygnus 3D survey is being acquired in collaboration with Polarcus and Downunder Geosolutions​.Final processed data will be available from Q3 2016.  Full Article

Spectrum signs multi-client master co-operation agreement in Somalia
Monday, 7 Sep 2015 01:00am EDT 

Spectrum ASA:Says entered into a multi-client master co-operation agreement with federal government of Somalia.Agreement allows Spectrum to acquire about 28,000 km of long offset 2D seismic data offshore south Somalia in order to image subsurface structures.  Full Article

Spectrum announces final result of subsequent offering
Friday, 24 Jul 2015 01:45am EDT 

Spectrum ASA:Announces final result of subsequent offering.In total, 122,478 offer shares were subscribed for at a subscription price of 32 Norwegian crowns per share.Board of directors will allocate and issue 122,478 new shares, raising gross proceeds of 3,919,296 crowns.  Full Article

Spectrum ASA announces guidance for Q2 2015
Friday, 3 Jul 2015 07:44am EDT 

Spectrum ASA:Announces prospectus approval, operational update and subsequent offering.Expects an improvement in Q2 2015 net revenues versus Q1 2015 and estimates about $35 million as net revenues for Q2.  Full Article

Spectrum ASA, PGS and Schlumberger in cooperation in Mexico
Wednesday, 1 Jul 2015 01:59am EDT 

Spectrum ASA:PGS have executed an MOU (memorandum of understanding) for a cooperation agreement with Spectrum and Schlumberger in Mexico.Surveys are supported by industry pre-funding.  Full Article