Electromagnetic Geoservices ASA

EMGS: Final verdict in ISS litigation

As described in Electromagnetic Geoservices ASA (the "Company" or "EMGS") annual

reports, including the 2018 annual report, the Company has been involved in

litigation related to a Municipal Services Tax (ISS) claim in Brazil. EMGS has

previously deposited the disputed amount into a judicial escrow account in

Brazil.

The Company is pleased to announce that a final verdict in the matter has now

been delivered by the Brazilian courts. The court has found in EMGS' favour.

Consequently, the escrowed amount including accrued interest, has been released

to the Company.

The release will, following payment of legal fees and certain tax costs related

to the released amount, increase the Company's free cash position by approx.

MUSD 3.7. At the same time, the non-current restricted cash position will be

reduced to zero.

Contact

Hege Veiseth, EMGS Chief Financial Officer, +47 992 16 743

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 exploration experts 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,

Mexico City, Rio de Janeiro and Kuala Lumpur.

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

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