Electromagnetic Geoservices ASA

M&A Activity • Mar 28, 2019

EMGS participates in sole-sourced tender process

EMGS participates in sole-sourced tender process

Electromagnetic Geoservices ASA ("EMGS" or the "Company") is currently

participating in a sole-sourced tender process for a multi-year acquisition

contract.

Based on the information currently available to EMGS, the Company believes that

the contract, if awarded, will have a value in excess of USD 30 million over a

two-year period.

The Company believes that the tendering process will be completed or, as the

case may be, terminated within 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