TGS Proposes Dividend of NOK 8.5 per Share and Introduces a Share Buy-back Program

ASKER, NORWAY (6 February 2014) - At the meeting held on 5 February 2014, the TGS Board of Directors decided to propose a dividend of NOK 8.5 per share to the shareholders at the June 2014 Annual General Meeting. The Board has also authorized a share buy-back program of USD 30 million. Following its update on 9 January, TGS now confirms net revenues of USD 271 million in Q4 2013, compared to USD 281 million in Q4 2012...

New York, 06/02/2014 (informazione.news - comunicati stampa - varie)

ASKER, NORWAY (6 February 2014) - At the meeting held on 5 February 2014, the TGS Board of Directors decided to propose a dividend of NOK 8.5 per share to the shareholders at the June 2014 Annual General Meeting. The Board has also authorized a share buy-back program of USD 30 million.

Following its update on 9 January, TGS now confirms net revenues of USD 271 million in Q4 2013, compared to USD 281 million in Q4 2012. Net late sales totaled USD 218 million in Q4 2013, up 7% from USD 204 million in Q4 2012 and representing a record high for the Company.

4th QUARTER HIGHLIGHTS

FULL YEAR 2013 FINANCIAL HIGHLIGHTS

"We are very pleased to announce a strong fourth quarter and end of year 2013, which caused us to beat our revenue guidance as announced in early October. Q4 was marked by continued strong late sales from our high-quality data library and we set a new record for late sales in the quarter. Energy companies continue to demand higher resolution subsurface images in mature basins and new regional data in frontier basins to guide their exploration efforts. Customer interest in new projects is confirmed by our record backlog at the end of Q4. TGS is clearly positioned to deliver the data needed by the industry to identify new reserves. TGS has a strong commitment to deliver shareholder returns through a combination of growth, dividends and share buy-backs" TGS' CEO Robert Hobbs stated.

To access TGS Q4 2013 results information click below:

Investor Presentation and Webcast  

Robert Hobbs (CEO) and Kristian Johansen (CFO) will present the results at 08:30 CET at Vika Konferansesenter located at Dronning Maudsgate in Oslo, Norway. Directions to Vika Konferansesenter can be found by visiting http://goo.gl/maps/P2rXm . The presentation is open to the public. The presentation can be followed live on the internet at www.tgs.com .

The slides from the presentation will also be available in PDF format at both the TGS and Oslo Stock Exchange websites.

Q4 2013 Conference Call

CEO Robert Hobbs and CFO Kristian Johansen will host a conference call on 6 February 2014 at 15:00 CET (9:00 AM New York time). Attendees may want to call 5-10 minutes before 15:00 CET (9:00 AM NY) to ensure registration and access.

A Q&A session will follow a short introduction, based upon the presentation issued in the morning. To pose a question, please press *1.

A replay of the conference call will be available shortly after. To access a replay of the TGS conference call,

Company Summary 

TGS provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide. In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, permanent reservoir monitoring and data integration solutions.

Forward-looking statements and contact information

All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data product at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO:TGS).

TGS sponsored American Depositary Shares trade on the U.S. over-the-counter market under the symbol "TGSGY".

For additional information about this press release please contact:

Kristian Johansen
Chief Financial Officer
Tel: +47 47 60 33 34
Email: kristian.johansen@tgs.com

Will Ashby
Director Investor Relations and M&A
Tel: +1 713 860 2184
Email: will.ashby@tgs.com



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