Electromagnetic Geoservices ASA

Report Publication Announcement • Jun 13, 2019

EMGS: Updated financial statements and annual report for 2018

EMGS: Updated financial statements and annual report for 2018

Reference is made to the stock exchange notification published by

Electromagnetic Geoservices ASA ("EMGS" of the "Company") on 26 April 2019,

wherein it was announced that the board of directors had approved the EMGS'

2018 annual financial statements and annual report. Reference is further made to

the stock exchange notification published by EMGS on 13 June 2019, wherein it

was announced that the annual general meeting (the "AGM") of the Company had, in

accordance with the proposal by the board of directors, resolved to approve the

2018 annual financial statements and the annual report, however so that the

Company's share premium account as of the balance sheet date was reduced to zero

and offset in full against other equity (uncovered loss).

As announced in the stock exchange notification on 13 June 2019, based on the

AGM's resolution the Company has prepared updated financial statements and

annual report for 2018.  A complete overview of the updates made is included on

page 4 of the updated annual report.

The updated annual report is enclosed to this stock exchange notification.

For further information, please contact:

Hege Veiseth, CFO, +47 99 21 67 43

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 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