Electromagnetic Geoservices ASA

Regulatory Filings • Oct 19, 2018

EMGS Mobilises Vessel for Potential Acquisition Contract

EMGS Mobilises Vessel for Potential Acquisition Contract

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

in the final stages of a contractual exchange for a proprietary data acquisition

survey with an undisclosed customer.

The survey will take place in South America with an expected duration between

one and two months.

The Company will be mobilising the Atlantic Guardian shortly, at the request of

the customer. Under the terms of this request, the Company will, subject to

certain conditions, be compensated for the mobilisation and demobilisation costs

in the event no contract is awarded.

Subject to the contract being awarded, EMGS expects that the survey will

commence in the fourth quarter of 2018.

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

5-2 of the Norwegian Securities Trading Act.