2012 Financial Results Press Release

IG Seismic Services PLC

IG SEISMIC SERVICES ANNOUNCES AUDITED IFRS RESULTS

FOR THE FULL YEAR OF 2012

Moscow, April 25, 2013

IG Seismic Services PLC ("IGSS" or the "Company", LSE: IGSS), the leading pure-play land and transition zone seismic company in Russia and the CIS and one of the largest land seismic companies globally, announces audited IFRS results for the full year of 2012.

Select Financial Information

*Net Debt is calculated using FX rate as at the end of the period (RUB/USD): 32.20 as at December 31, 2011 and 30.37 as at December 31, 2012.

Key Financial Results for the Full Year of 2012

·; EBITDA increased by 2.9% year-on-year and amounted to USD 119.1 mln. EBITDA margin increased by 80 bp year-on-year to19.6% of sales compared to 18.8% of sales for the same period of 2011.

·; Net Profit for the full year of 2012 amounted to USD 12.5 mln with a Net Margin of 2.1% compared to a net loss of USD 85.1 mln for the same period of 2011.

·; Operating Cash Flow for the full year increased by 23.4% over the same period of 2011 to USD 84.1 mln.

·; Capital Expenditures for the full year of 2012 amounted to USD 56.7 mln.

·; As of December 31, 2012, net debt amounted to USD 390.5 mln. Gross debt amounted to USD 409.1 mln, cash and cash equivalents amounted to USD 18.6 mln.

Key Operating Results for the Full Year of 2012

·; 1,539 thousand shot points were performed, out of which 248 thousand related to 2D surveys and 1,291 thousand to 3D surveys

·; 11 thousand linear kilometers related to 2D surveys, and 20 thousand square kilometers related to 3D surveys were performed

·; As of December 31, 2012 the Company operated 75 field crews in Russia, Kazakhstan and certain other countries with 300,620 channels, 164 vibroseis sources, 215 pulse sources and 615 drilling units

·; As of December 31, 2012 the Company employed 12,330 employees.

·; In 2012, top 10 customers accounted for 76.6% of field seismic revenue, of which Gazprom Neft accounted for 13.8%, Gazprom for 13.1%, Rosnedra for 9.3%, Rosneft for 9.3%, TNK-BP for 9.5%, Bashneft for 6.5%, LUKOIL for 4.8%, Novatek for 3.9%, Surgutneftegaz for 3.5% and Russneft for 2.9%.

·; As of December 31, 2012, the Company's seismic services order book increased in RUR terms approximately by 19% compared to the order book as of 31 December 2011** and amounted to approximately USD 844 million (inclusive of VAT).

·; As of March 31, 2013, the Company's seismic services order book increased in RUR terms approximately by 69% compared to the order book as of 31 March 2012** and amounted to approximately USD 826 million (inclusive of VAT).

Order Book as of December 31, 2012

·; As of 31 December 2012, the Company's seismic services order book amounted to approximately USD 844 million (inclusive of VAT), of which approximately USD 680 million (inclusive of VAT) accounted for signed contracts and approximately USD 164 million (inclusive of VAT) represented tenders awarded this year.

·; The seismic services order book as of December 31, 2012 increased in RUR terms by approximately 19% compared to the order book as of December 31, 2011**.

·; Starting from 2013, the Company will be releasing data processing & interpretation (DPI) order book. As of 31 December 2012, the Company's DPI order book amounted to approximately USD 13 million (inclusive of VAT) of signed contracts.

Seismic Services Order Book as of December 31, 2012 (including VAT)

Data Processing & Interpretation Order Book as of 31 December 2012 (including VAT)

Order Book Update as of March 31, 2013

·; As of March 31, 2013, the Company's seismic services order book amounted to approximately USD 826 million (inclusive of VAT), of which approximately USD 725 million (inclusive of VAT) accounted for signed contracts and approximately USD 101 million (inclusive of VAT) represented tenders awarded this year.

·; The seismic services order book as of March 31, 2013 increased in RUR terms approximately by 69% compared to the order book as of March 31, 2012**.

·; As of March 31, 2013, the Company's DPI order book amounted to approximately USD 17 million (inclusive of VAT) of which approximately USD 12 million (inclusive of VAT) accounted for signed contracts and approximately USD 5 million (inclusive of VAT) represented tenders awarded this year.

Seismic Services Order Book as of March 31, 2013 (including VAT)

Data Processing & Interpretation Order Book as of March 31, 2013 (including VAT)

·; The Group is still in the process of contracting for 2013-2014 season which implies that current order book does not yet provide an accurate indication of revenues in 2013 and current order book trends could change.

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*Signed contracts may be subject to renegotiation of volumes and/or other terms or even cancellation, and both signed contracts and tenders won may not proceed as originally planned at all.

**Order book data for December 31, 2011 and 31 March, 2012 represents a sum of order books of two entities existing before their combination in December 2011 (JV between Integra Group and Schlumberger and CJSC GEOTECH Holding). Order books were not consolidated at that time.

Nikolay Levitskiy, IGSS Chief Executive Officer, commented:

2012 marks an important strategic step for the development of IG Seismic Services.

This was the first year in which the Company started operations as a combined, integrated company, following the transaction to combine the Russian and CIS seismic assets of three leading companies (GEOTECH Holding, Integra and Schlumberger) that was finalized in December 2011.

Combined capacities allowed the company to strengthen its positions and attain a larger scale for the purpose of contracting, marketing and logistics; increase its operational capacities and competencies; and make operations more flexible.

In 2012, we successfully accomplished the integration of our combined assets, from the optimization of our operational processes and personnel functions to the streamlining of the operations and support infrastructure, as well as the centralization of management functions.

We have already seen a positive effect upon our financials in 2012, and we plan to gain an additional synergetic effect stemming from the integration during future periods, and create significant additional value for the company's shareholders.

The seismic market in 2012 exhibited two trends:

- A significant increase in customer demand for more advanced seismic exploration technologies in response to the complex geology of existing and new oil and gas fields;

- A significant shift of customer focus towards frontier areas and greenfields;

We can proudly say that in 2012, IGSS has successfully met all challenges of the rapidly evolving seismic market.

IGSS once again demonstrated its reputation as an industry pioneer, having signed the first contract for providing seismic exploration using the most innovative, high-density seismic acquisition UniQ technology (developed by IGSS shareholder Schlumberger). In December 2012, GEOTECH Holding (the managing company for IGSS' assets) and Gazprom Neft signed an agreement on the seismic exploration of the Vakunayskoe deposit at the Chonsky project in the Irkutsk Region. Although this technology has been successfully used during the previous few years by leading foreign oil and gas companies abroad, in 2013 it will be used in the Russian Federation for the first time. The UniQ technology makes it possible to explore areas that cannot be explored using conventional seismics, allowing customers to improve exploration efficiency through the most advanced possible understanding of reservoirs.

We believe this allows IGSS to not only create a new high-density seismic market segment, but to firmly position ourselves there. We are optimistic about the new high-density market's prospects, since new technologies are opening a new era in the sphere of oil and gas seismic exploration in Russia. We also believe that a significant pent up customer demand for these services will clearly manifest itself over the course of the next several years.

As part of the process of customers' transition to more advanced seismics, the year of 2012 was also marked for IGSS by a transition to longer-term contracts, making it possible to provide oil and gas companies more customized services tailored to their specific needs. For the first time, a three-year agreement was signed with one of the most prominent oil and gas market players.

And, finally, on 12 December 2012, the Global Depositary Receipts (GDRs) of IG Seismic Services were admitted for trading on the London Stock Exchange's Main Market. Becoming a public company is an important step in IGSS's development, and we strive to adhere to the best corporate practices of transparency and accountability before our shareholders."

Consolidated Financial Statements, prepared in accordance with IFRS, as of and for the year ended 31 December 2012, and Management Report on 2012 Results for twelve months ended December 31, 2012, are available on the website at http://www.igseis.com/en/investor-relations/financial-and-operational-results.

For additional information please see our Corporate Governance Statement on the website at: http://www.igseis.com/en/about-us/corporate-governance/corporate-documents 

Contacts

For further information please visit www.igseis.com or contact:

IGSS Investor Relations

Olga Popova

+ 7 495 580 7882 ext. 395

[email protected]

IGSS Media Relations

Victoria Smirnova

+ 7 495 580 7882 ext. 396

[email protected]

This document may contain "forward-looking statements" which include all statements other than statements of historical fact. Such forward-looking statements can often be identified by words such as "plans", "expects", "intends", "estimates", "will", "may", "continue", "should" and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the IG Seismic Services plc's (the "Company") control that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These forward-looking statements speak only as at the date as of which they are made, and neither the Company, nor any of its respective agents, employees or advisors intends or has any duty or obligation to supplement, amend, update or revise any of the forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. The information and opinions contained in this document are provided as at the date of this document or as otherwise specified herein and are subject to change without notice.