Electromagnetic Geoservices ASA

Earnings Release • Apr 30, 2020

EMGS reports multi-client revenue

EMGS reports multi-client revenue

Electromagnetic Geoservices ASA ("EMGS" or the "Company") has entered into a

late-sales multi-client licensing agreement related to its multi-client library

in Norway. The net revenue to EMGS under the agreement is approximately USD 1.7

million.

The majority of the revenue will be recognised in the second quarter of 2020.

Contact

Anders Eimstad, EMGS Interim 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.

For more information, visit www.emgs.com (http://www.emgs.com/)

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act