Electromagnetic Geoservices ASA

EMGS secures additional pre-funded multi-client survey in Norway

Reference is made to the stock exchange notice published by Electromagnetic

Geoservices ASA ("EMGS" or the "Company") on 8 April 2022, where EMGS announced

that the Company had entered into an agreement for a fully pre-funded multi-

client 3D CSEM survey on the NCS.

EMGS is pleased to announce the Company has secured an additional fully pre-

funded multi-client 3D CSEM survey in Norway, to be acquired in connection with

the survey announced on 8 April 2022.

The total secured pre-funding for the two surveys, including the previously

announced USD 1 million, is approximately USD 2.8 million.

The Company has initiated mobilisation of the Atlantic Guardian, and the surveys

are expected to be executed within Q2 2022.

Contact

Anders Eimstad, CFO, +47 948 25 836

This information is published in accordance with the Norwegian Securities

Trading Act § 5-12.

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. CSEM technology can also be used to detect the

presence of marine mineral deposits (primarily Seabed Massive Sulphides) and

EMGS believes that the technology can also be used to estimate the mineral

content of such deposits. The Company is undertaking early-stage initiatives to

position itself in this future market.

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