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2014-05-02

EMGS: EMGS secures further pre-funding of multi-client EM survey in US Gulf of Mexico

EMGS has received additional pre-funding for the ongoing Daybreak 3D
multi-client electromagnetic survey in the Alaminos Canyon protraction of the
US Gulf of Mexico.

The survey started on 22 February and is expected to be completed mid-June
with integrated data delivery starting in June. The survey has strong
industry funding.
"We are very pleased with the initial industry interest for this project. The
strong level of pre-funding confirms both the project potential and the
importance of the US Gulf of Mexico as a new multi-client area for us. We
have extensive experience from working with Pemex just south of this area, so
we are excited to use this opportunity to further extend our experience along
the Perdido trend," says Roar Bekker, CEO of EMGS.
"Based on existing 2D data provided by TGS, we will, for the first time in the
US, deliver both fully integrated 3D EM products as well as using the EM data
to further define salt and structural features to provide a better subsurface
image in the region. We are optimistic about the upcoming Western Gulf of
Mexico lease sale and excited to show how our EM data can improve leasing
decisions for new customers," says David Hicks, President, Western Hemisphere
EMGS.
The Daybreak project is the first phase of a planned multi-year program in the
US Gulf of Mexico for EMGS. This phase is expected to cover approximately 80
blocks.

Contacts

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, visitwww.emgs.com

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 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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