Arrow Prospectus - PGS

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ARROW SEISMIC ASA – INITIAL PUBLIC OFFERING 6.6.3 CGG Laurentian Figure 6-6: CGG Laurentian Technical specifications Table 6-2: Technical specifications CGG Laurentian Built: 1983 Converted to seismic: 1998 Upgraded: 2005 Length: 84.7 meter Beam: 16.8 meter Compressors : Owned by Arrow; 3 x LMF compressors Streamer winches: Owned by Arrow; 3 x double winches from Odim Streamers: Owned by charterer; max 6 streamers The “CGG Laurentian” is operating on a time charter party with CGGVertias expiring in September 2008 whereupon the charterer has an option to extend the terms of the charter party lease for either two or three years. For further information see section 14.2 “Material Contracts”. 41
ARROW SEISMIC ASA – INITIAL PUBLIC OFFERING 6.6.4 2D/Source vessels Figure 6-7: Illustration of 2D/source vessel post conversion Arrow owns the cargo vessels “Polar Explorer” and “Polar Pearl” and has entered into an agreement for the purchase of the cargo vessel “Lisbeth C” (to be renamed “Polar Sea”) expected to be delivered within end May 2007. The total purchase price for these vessels is some USD 21 million. Arrow has access to winches and compressors for delivery in 2007 and is planning to convert and renew the cargo vessels to 2D/source vessels of high standard in 2007/2008 in order to meet the requirement of safety and comfort from the oil exploration industry. Total investment for the vessels, including conversion cost, winches and compressors, is estimated to about USD 110 million. The vessels are currently open for contract. Table 6-3: Technical specifications Polar Explorer Built: 1992 Converted: Planned for conversion to 2D/source vessel in 2007/2008 Upgraded: n.a. Length: 92 meter Beam: 17 meter Compressors : Owned by Arrow; 3 x LMF compressors Streamer winches: Owned by Arrow; 1 x double winch from Odim Streamers: Owned by charterer; 1 long offset streamer of up to 16 km Table 6-4: Technical specifications Polar Pearl Built: 1993 Converted: Planned for conversion to 2D/source vessel in 2007/2008 Upgraded: n.a. Length: 92 meter Beam: 17 meter Compressors : Owned by Arrow; 3 x LMF compressors Streamer winches: Owned by Arrow; 1 x double winch from Odim Streamers: Owned by charterer; 1 long offset streamer of up to 16 km Table 6-5: Technical specifications Polar Sea Built: 1993 Converted: Planned for conversion to 2D/source vessel in 2007/2008 Upgraded: n.a. Length: 92 meter Beam: 17 meter Compressors : Owned by Arrow; 3 x LMF compressors Streamer winches: Owned by Arrow; 1 x double winch from Odim Streamers: Owned by charterer; 1 long offset streamer of up to 16 km For “Polar Sea”, Arrow has made a design for conversion to 6 streamer (3 x double winches). This includes new propulsion plant of 2 x 3,000 kw and Azimuth. Necessary equipment is secured for delivery in Q4 2007. This is per date an option being considered. 42
Page 1 and 2: Prospectus Arrow Seismic ASA Offeri
Page 3 and 4: The contents of this Prospectus are
Page 5 and 6: 7.2 OVERVIEW OF THE GLOBAL SEISMIC
Page 7 and 8: 1. SUMMARY The following summary sh
Page 9 and 10: • Geopolitical risks - Changes in
Page 11 and 12: Summary of comparison of three mont
Page 13 and 14: Subscription Period: From and inclu
Page 15 and 16: 1.11.5 Statements from experts refe
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Solheimsgt 13, PB 1114 Sentrum, N-5
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Arrow Prospectus - PGS

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