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2016-09-14

EMGS: EMGS reports sale from its multi-client library in the Barents Sea, Norway

Electromagnetic Geoservices ASA (EMGS) announces that the Company has entered
into a data licensing agreement for the provision of 3D CSEM data from the
multi-client data library in the Barents Sea providing net revenue of USD 2.1
million to EMGS. The revenue will be recognized in the third quarter of 2016.
EMGS is pleased with the oil company's purchase of the 3D CSEM data to
evaluate the exploration for hydrocarbons in the Barents Sea, says Christiaan
Vermeijden, CEO.

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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