Electromagnetic Geoservices ASA

Regulatory Filings • Nov 11, 2018

EMGS: Update on Survey in South America

EMGS: Update on Survey in South America

Reference is made to the stock exchange notifications published by

Electromagnetic Geoservices ASA ("EMGS" or the "Company") on, respectively, 19

and 26 October 2018, regarding an acquisition in South America for an

undisclosed customer.

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

The total value of the purchase order is approximately USD 8.2 million.

Subject to inter alia all necessary governmental permits, EMGS expects to

commence the survey as soon as practicable possible after the vessel arrives in

the area of operations.

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 of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.