Electromagnetic Geoservices ASA

EMGS receives multi-client Letter of Intent

Electromagnetic Geoservices ASA ("EMGS" or the "Company") is pleased to announce

that the Company has today received a letter of intent with an approximate value

of USD 8 million from an undisclosed customer.

Under the letter of intent, the customer will license certain data from the

Company's existing EM multi-client library in Norway, and prefund a new multi-

client acquisition in the North Sea. The letter of intent furthermore includes a

settlement of future potential uplift obligations towards the Company for

certain multi-client data licensed by the customer.

Subject to a final contract being entered into under the letter of intent, the

Company expects to recognise approximately USD 7 million in the first quarter of

Contact

Hege Veiseth, CFO, +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 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

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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