Oslo, 8 August 2019

With reference to the announcement of 7 August 2019 confirming that the
contemplated merger between Spectrum ASA ("Spectrum") and TGS-NOPEC Geophysical
Company ASA ("TGS"), all outstanding options in Spectrum have vested and been
exercised upon the merger becoming unconditional.

The board of directors of Spectrum has resolved, in accordance with the
authorization granted by the general meeting on 24 May 2019, to issue 2,629,352
new shares to fulfil the company's obligations under the option agreements and
thereby increasing the Spectrum's share capital by NOK 2,629,352. The shares
were subscribed at a total subscription/exercise price of NOK 2,629,352.

Following the share capital increase, the share capital of Spectrum ASA will be
NOK 57,414,455, divided into 57,414,455 shares, each with a par value of NOK 1.
The share capital increase will be registered with the Norwegian Register of
Business Enterprises (Nw.: Foretaksregisteret) as soon as practically possible
after the share contribution has been fully paid.

The following primary insiders in Spectrum has subscribed for shares in Spectrum
through their exercise of options:

  * Rune Eng has exercised 1,584,924 options, corresponding to 1,584,924 shares
    at the strike price of NOK 1 per share. Following the exercise of options
    and the issuance of the new shares, Rune Eng will hold 1,726,618 shares in
    Spectrum and no additional rights to shares in Spectrum.
  * Jan Schoolmeesters has exercised 459,765 options, corresponding to 459,765
    shares at the strike price of NOK 1 per share. Following the exercise of
    options and the issuance of the new shares, Jan Schoolmeesters will hold
    506,726 shares in Spectrum and no additional rights to shares in Spectrum.
  * Graham Mayhew has exercised 146,329 options, corresponding to 146,329 shares
    at the strike price of NOK 1 per share. Following the exercise of options
    and the issuance of the new shares, Graham Mayhew will hold 157,329 shares
    in Spectrum and no additional rights to shares in Spectrum.
  * Svein Staalen has exercised 149,948 options, corresponding to 149,948 shares
    at the strike price of NOK 1 per share. Following the exercise of options
    and the issuance of the new shares, Svein Staalen will hold 160,497 shares
    in Spectrum and no additional rights to shares in Spectrum.
  * Richie Miller has exercised 90,452 options, corresponding to 90,452 shares
    at the strike price of NOK 1 per share. Following the exercise of options
    and the issuance of the new shares, Richie Miller will hold 309,957 shares
    in Spectrum and no additional rights to shares in Spectrum.
  * Dean Zuzic has exercised 28,630 options, corresponding to 28,630 shares at
    the strike price of NOK 1 per share. Following the exercise of options and
    the issuance of the new shares, Dean Zuzic will hold 28,630 shares in
    Spectrum and no additional rights to shares in Spectrum.
  * Neil Hodgson has exercised 63,317 options, corresponding to 63,317 shares at
    the strike price of NOK 1 per share. Following the exercise of options and
    the issuance of the new shares, Neil Hodgson will hold 63,317 shares in
    Spectrum and no additional rights to shares in Spectrum.
  * Mike Mellen has exercised 39,438 options, corresponding to 39,438 shares at
    the strike price of NOK 1 per share. Following the exercise of options and
    the issuance of the new shares, Mike Mellen will hold 44,248 shares in
    Spectrum and no additional rights to shares in Spectrum.
  * Ian Trevor Edwards has exercised 41,901 options, corresponding to 41,901
    shares at the strike price of NOK 1 per share. Following the exercise of
    options and the issuance of the new shares, Ian Trevor Edwards will hold
    42,931 shares in Spectrum and no additional rights to shares in Spectrum.

For additional information about this press release, please contact:

Dean Zuzic; CFO
Email: dean.zuzic@spectrumgeo.com (mailto:dean.zuzic@spectrumgeo.com)
Cell: +47 414 33560

Company summary
"Spectrum provides innovative Multi-Client seismic surveys and seismic imaging
services to the global oil and gas industry from offices in Norway, the UK, USA,
Brazil, Egypt, Australia, Indonesia and Singapore. Spectrum designs, acquires
and processes seismic data to deliver high quality solutions through its
dedicated and experienced workforce. Spectrum holds the world's largest library
of Multi-Client 2D marine seismic data and a significant amount of 3D seismic.
The company's strategy focuses on both the major, established hydrocarbon
producing regions of the world as well as key frontier areas identified by our
experienced team of geoscientists. The Spectrum library of Multi-Client data
contains projects from many of the foremost oil producing regions of the world.
These include new acquisition, reprocessing and interpretation reports".

www.spectrumgeo.com (http://www.spectrumgeo.com)

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act