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2014-04-30

EMGS: EMGS - Agreement with ANCAP in Uruguay for multi-client EM data

Electromagnetic Geoservices ASA (EMGS) has entered into a partnership
agreement with La Administración Nacional de Combustibles, Alcohol y Portland
("ANCAP"). ANCAP is the regulating authority for oil and gas exploration in
Uruguay. It is ANCAP's intention that the licensing of EM data will count as
working units for the exploratory work program commitment in the upcoming
license bid round in 2015.
"This agreement confirms the strong commitment from ANCAP related to the oil
companies' use of EM data in their exploration workflow in this region. It
also expands our opportunities in Uruguay for the years to come," says Roar
Bekker, CEO of EMGS.
The Uruguayan continental shelf has over the last years been established as a
major area for exploration activity, attracting major international oil and
gas companies. Several large seismic programs have recently been conducted.
In the public licensing round arranged by ANCAP two years ago, a major
international oil and gas company won the right to explore more than 13,000
km2 by committing to acquire seismic and 3D EM over the entire area.
Contacts

Roar Bekker, EMGS chief executive officer, +47 73 56 88 10

Svein Knudsen, EMGS chief financial officer, +47 73 56 88 10

Charlotte Knudsen, EMGS head of investor relations, +47 97 56 19 59
About EMGS

EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM)
technology to support oil and gas companies in their search for offshore
hydrocarbons. EMGS supports each stage in the workflow, from survey design
and data acquisition to processing and interpretation. The company's services
enable the integration of EM data with seismic and other geophysical and
geological information to give explorationists a clearer and more complete
understanding of the subsurface. This improves exploration efficiency and
reduces risks and the finding costs per barrel.
EMGS operates on a worldwide basis with main offices in Trondheim and Oslo,
Norway; Houston, USA; and Kuala Lumpur, Malaysia.
For more information, visitwww.emgs.com

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

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: EMGS via Globenewswire

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