Polar Petroleum Corp. has signed an agreement with Fugro Gravity and Magnetic Services (part of the Fugro group) to license magnetic data and receive interpretation services for Polar's Hemi Springs Project and Franklin Bluffs Project on Alaska's North Slope. The magnetic data and related interpretation is expected to reduce exploration risk in a cost-effective manner while assisting in the exploration for oil and natural gas.

Fugro Gravity and Magnetic Services (Fugro) houses the world's most comprehensive, privately owned non-exclusive airborne, land and marine potential fields geophysical database. The database includes roughly 14,000,000 line kilometers of aeromagnetic data and 2,000,000 stations of land gravity data worldwide. Polar Petroleum will license only that data that is of specific relevance to the Company's 2 North Slope projects.

Tags: Polar Petroleum Corp.