TGS : TGS Announces Record Revenues of 281 MUSD and a Proposed Dividend of NOK 8 per Share

TGS : TGS Announces Record Revenues of 281 MUSD and a Proposed Dividend of NOK
                                 8 per Share

ASKER, NORWAY (7 February 2013) - TGS reports net revenues of USD 281.4
million in Q4 2012, compared to USD 180.9 million in Q4 2011, a 56% increase.
The Company's operational multi-client investments were USD 95.3 million, up
56% from Q4 2011. TGS' net late sales totaled USD 203.7 million, up 29% from
Q4 2011.

At the meeting held on 6 February 2013, the TGS Board of Directors decided to
propose a dividend of NOK 8 per share to the shareholders at the June 2013
Annual General Meeting.

4th QUARTER HIGHLIGHTS

  *Consolidated net  revenues were  USD  281.4 million,  an increase  of  56% 
    compared to Q4 2011.
  *Net late sales totaled USD 203.7 million, up 39% from Q4 2011.
  *Net pre-funding revenues  were USD  65.0 million,  up 115%  from Q4  2011, 
    funding 68% of the  Company's operational multi-client investments  during 
    Q4 (investments of USD 95.3 million, up 56% from Q4 2011).
  *Proprietary revenues were USD 12.7 million, compared to USD 4.5 million in
    Q4 2011.
  *Operating profit  (EBIT) was  USD  117.9 million  (42% of  net  revenues), 
    compared to USD 62.7 million (35% of net revenues) in Q4 2011.
  *Cash flow from operations was USD 243.4 million, up from USD 189.4 million
    in Q4 2011.
  *Earnings per share (fully diluted) were USD 0.81, compared to USD 0.43  in 
    Q4 2011.

FULL YEAR 2012 FINANCIAL HIGHLIGHTS

  *Consolidated net  revenues were  USD  932.2 million,  an increase  of  53% 
    compared to 2011.
  *Net late sales from the multi-client library totaled USD 563.8 million, up
    34% from USD 419.5 million in 2011.
  *Net pre-funding  revenues  were USD  338.2  million, up  129%  from  2011, 
    funding 68% of the  Company's operational multi-client investments  during 
    2012 (investments of USD 496.2 million, up 79% from 2011).
  *Proprietary revenues were USD  30.3 million, compared  to 41.7 million  in 
    2011.
  *Operating profit  (EBIT) was  USD  402.3 million  (43% of  net  revenues), 
    compared to USD 240.4 million (40% of net revenues) in 2011.
  *Cash flow from operations was USD  663.4 million, an increase of 36%  from 
    USD 486.7 million in 2011.
  *Earnings per share (fully diluted) were USD 2.76 compared to USD 1.65  for 
    the same period in 2011.

"As announced at our 2013 guidance release on 8 January 2013, Q4 2012 was
another record breaking quarter for TGS. We are particularly pleased to see
that our existing library continues to perform well with late sales up 39%
from Q4 2011," TGS' CEO Robert Hobbs stated. "Our pipeline of new investment
opportunities continues to be strong in both traditional as well as new
multi-client markets for TGS. The 2013 guidance therefore reflects a strong
seismic market providing good opportunities for profitable growth."

To access TGS Q4 2012 results information click below:

  *Earnings Release
  *Presentation Slides
  *Live Presentation

Investor Presentation and Webcast

CEO Robert Hobbs and CFO Kristian Johansen will present the results at 08:30
CET on 7 February at Shippingklubben located at Haakon VII's gt 1 in Oslo,
Norway. The presentation is open to the public and can also 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 2012 Conference Call

CEO Robert Hobbs and CFO Kristian Johansen will host a conference call on 7
February 2013 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.

  oNorwegian attendees are invited to call 800 56054 or +47 2350 0486
  oInternational attendees are invited to call 0800 279 4992 or +44(0)20
    3427 1900
  oUS attendees are invited to call +1 877 280 1254

Participants will need to quote the following confirmation code when dialing
into the conference: 9966648.

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
replay of the TGS conference call,

  odial +47 2100 0498 (Norway) or +44 (0)20 3427 0598 (International) or +1
    866 932 5017 (US)
  oreplay access code 9966648 followed by # (pound-sign)

A replay of the conference call will also be available at www.tgs.com.

Company summary

TGS-NOPECGeophysical Company (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.

For more information visitTGS online atwww.tgs.com.

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 products 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).

For additional information about this press release please contact:

Kristian Johansen
Chief Financial Officer
Cell: +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

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)

2012 Q4 Earnings Release Report
2012 Q4 Earnings Release Slides

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Source: TGS via Thomson Reuters ONE
HUG#1676213
 
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