Contract Award in the North Sea

15 December 2016

Thalassa Holdings Ltd

(Reuters: THAL.L, Bloomberg: THAL:LN)

("Thalassa" or "the Company")

Contract Award in the North Sea

The Board announces that the Company's wholly owned subsidiary WGP Group Ltd has been awarded a contract from ConocoPhillips Skandinavia AS to acquire seismic data sets on the Eldfisk field in the North Sea in 2017. The duration of the 2017 shoot is estimated at approximately 2 months and is expected to commence during Q2.

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

Investor Enquiries:

Thalassa Holdings Ltd

Duncan Soukup, Chairman +33 (0)6 78 63 26 89

WH Ireland Limited (Nominated Adviser and Broker)

Chris Fielding, Head of Corporate Finance +44 (0)207 220 1650

Press Enquiries:

Square1 Consulting (Public Relations)

David Bick +44 (0)207 929 5599

www.thalassaholdingsltd.com