(Oslo, 14 December 2022) On 11 October 2022 TGS ASA ("TGS") completed the
recommended voluntary offer to acquire Magseis Fairfield ASA ("Magseis" or the
"Company"), through which TGS acquired approximately 75.40% of the issued and
outstanding shares in Magseis. The offer triggered an obligation to make a
mandatory offer for all the remaining shares in Magseis pursuant to Chapter 6 of
the Norwegian Securities Trading Act. On 10 November 2022, TGS launched the
mandatory offer to acquire all the shares in Magseis that are not already owned
by TGS (the "Offer" or the "Mandatory Offer").

Pursuant to the Norwegian Securities Trading Act section 6-16, the Board of
Directors of Magseis shall provide a statement on the Offer (the "Opinion"). In
this case, Oslo Børs is of the opinion that the Offer has been made in concert
with the Board of Directors of Magseis as the voluntary offer was recommended by
the Board of Directors of Magseis. Oslo Børs, in its capacity as take-over
supervisory authority, has therefore decided that the statement from Magseis on
the Mandatory Offer shall be made by an independent expert engaged by Magseis.
Magseis has engaged PricewaterhouseCoopers AS ("PwC", "we" or "us") to issue the
statement on behalf of Magseis.

PwC's conclusion:

"Subject to the foregoing conditions and limitations, it is PwC's Opinion that
the Offer as at this date, from a financial point of view, is fair to the owners
of shares in Magseis.

Please note that we do not express any opinions or recommendations as to whether
existing shareholders should accept the Offer. Each shareholder should make its
own assessment and evaluation of the attractiveness of the Offer."

See full report from PwC attached.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
	
For further information, please contact:

Carel Hooijkaas, CEO
Tel: +47 480 49 277
Email: carel.hooijkaas@magseisfairfield.com

Stig Hognestad, CFO
Tel: +47 902 59 040
Email: stig.hognestad@magseisfairfield.com

---

Magseis Fairfield is the global leading provider of ocean bottom seismic (OBS)
technology and data acquisition projects. The company has a flexible business
model with full scale node operations, as well as lease and sale models. The
Marine Autonomous Seismic System "MASS" nodes and the range of Z-nodes combined
with handling systems and source technology enables market leading deployment
speed and highly cost-efficient acquisition of data with exceptional quality.