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EMGS: EMGS - Letter of award for vessel Atlantic Guardian in Norway

Electromagnetic Geoservices ASA (EMGS) has received a Letter of Award (LOA)
from North Energy ASA for a contract of NOK 20 million (USD 3.3 million) for
3D EM data acquisition over and in the vicinity of license PL509S in the
North Sea.
"This contract means that EM is becoming accepted as an exploration tool in
the North Sea and re-iterates that the application of the EM technology will
be an integral part of North Energy's exploration workflow," says CEO of
EMGS, Roar Bekker.
"We believe that the use of electromagnetic data, together with other advanced
geophysical technologies, will considerably de-risk our exploration portfolio
in the North Sea," says SVP of exploration and business development of North
Energy, Kristen Berli.
The survey is expected to commence mid-April, using the vesselAtlantic

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,
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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