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EMGS: EMGS and North Sea Commander Shipping AS agree on new terms for the charter agreement of the Atlantic Guardian

Electromagnetic Geoservices ASA (EMGS) has signed an extended charter
agreement for the vessel Atlantic Guardian with North Sea Commander Shipping
AS (owner of the vessel) at new and improved commercial terms. The new terms
are valid as of 1 October 2016.
EMGS and the owners have agreed to a reduction of the charter hire rate by
approximately 27% and a new 5 year term for the charter.

"We are pleased to see that our suppliers are contributing to the targeted
cost savings in the Company. The new terms provide for a sound commercial
basis when the market turns," says Christiaan Vermeijden, CEO of EMGS.


Hege Veiseth, EMGS Chief Financial Officer, +47 992 16 743

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 exploration experts 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 offices in Trondheim, Oslo, Houston,
Villahermosa, Rio de Janeiro and Kuala Lumpur.

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 Corporate Solutions on behalf of Nasdaq 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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