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2016-08-26

EMGS: EMGS reports prefunding for multi-client acquisition in Norway

Electromagnetic Geoservices ASA (EMGS) announces that the Company has entered
into a data licensing agreement with a repeat customer for 3D EM data to be
acquired over the Hoop area in the Barents Sea. The pre-funding amounts to
USD 1 million.
This new acquisition is expected to take place in Q3 2016 and will become part
of the EMGS multi-client library.

Christiaan Vermeijden, CEO of EMGS, is pleased that see that such a 3D CSEM
survey continues to add value to the exploration efforts for hydrocarbons in
the Barents Sea and encourages other customers to take advantage of the
vessel being active in the area.

Contact

Hege Veiseth, CFO, +47 99 21 67 43

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

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 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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