Electromagnetic Geoservices ASA

Regulatory Filings • Mar 11, 2019

EMGS: Update on Survey in South-East Asia

EMGS: Update on Survey in South-East Asia

Reference is made to the stock exchange notification published by

Electromagnetic Geoservices ASA ("EMGS" or the "Company") on 20 February 2019,

wherein the Company announced that it had received a letter of award from an

undisclosed customer for a proprietary data acquisition survey in south-east

Asia.

The Company has now received a purchase order from the customer for the survey.

The total value of the purchase order is approximately USD 24 million.

Based on the purchase order and the letter of award, the Company has initiated

mobilisation of the BOA Thalassa for the survey.

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