Electromagnetic Geoservices ASA

Regulatory Filings • Jun 25, 2021

EMGS: New framework contract for multi-client data

EMGS: New framework contract for multi-client data

Electromagnetic Geoservices ASA ("EMGS" or the "Company") is pleased to announce

that it has entered into a framework contract with an existing customer for

licensing of multi-client data from the Company's international multi-client

library.

There are no minimum licensing commitments for the customer under the framework

contract. However, based on the information currently available, EMGS believes

that the contract will result in late sales during 2H 2021 with a total value

between USD 2.5 and USD 3.0 million.

Contact

Anders Eimstad, Chief Financial Officer, +47 948 25 836

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.

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act