Electromagnetic Geoservices ASA

Regulatory Filings • Jun 3, 2019

EMGS: Revenue from change of control events

EMGS: Revenue from change of control events

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

agreements relating to certain change of control events affecting two of its

customers.

The agreements entail combined payments to EMGS of approximately USD 2.7

million, which will be recognised in the second quarter of 2019.

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.

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act