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EMGS: EMGS - agreement with Nalcor Energy in Eastern Canada for 3D multi-client EM survey

EMGS has signed a multi-client license agreement with Nalcor Energy, the
Provincial Energy Corporation of Newfoundland and Labrador, for the
acquisition of up to 13,500 km2 in a multi-season campaign.
The CSEM survey is expected to begin in June of this year and will target the
Flemish Pass Basin, where recent major oil discoveries have been made. The
survey will collect 4,000km2 of 3D EM data calibrated to these discoveries
and will image key prospects in nearby areas. Integrated data delivery will
be available in early 2015. This survey is supported by industry pre-funding.
"We are very pleased to have Nalcor Energy invest in this important project
for Newfoundland and Labrador. Working closely with Nalcor in this large
region presents a tremendous opportunity for clients and service providers
alike," stated Roar Bekker, CEO of EMGS.
Richard Wright, Manager Exploration of Nalcor Energy, added "The offshore
basins of Newfoundland and Labrador are relatively underexplored,
particularly in the slope and deepwater. Investing in this calibrated 3D
EM survey with EMGS will provide the global industry with a new tool to
identify and de-risk new leads and high- grade existing prospects in this
frontier area.

Roar Bekker, EMGS chief executive officer, +47 911 41 149

Svein Knudsen, EMGS chief financial officer, +47 911 41 149

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

Nalcor Energy is Newfoundland and Labrador's Provincial Crown Energy Company.
Nalcor Energy's business includes the development, generation, transmission
and sale of electricity; the exploration, development, production and sale of
oil and gas: industrial fabrication and energy marketing. Focused on
sustainable growth, the company is leading the development of the province's
energy resources and has a corporate-wide framework which facilitates the
prudent management of its assets while continuing an unwavering focus on the
safety of its workers and the public. Nalcor has a staff of 1400 in five
lines of business. Newfoundland and Labrador Hydro, Churchill Falls, Oil and
Gas, Lower Churchill Project and Bull Arm Fabrication.
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,
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.


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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