Electromagnetic Geoservices ASA

EMGS: Exercise of Call Option under Existing Bond Issue

Reference is made to the stock exchange notifications published by

Electromagnetic Geoservices ASA ("EMGS" or the "Company") pertaining to the

Comprehensive Refinancing, including the stock exchange notifications published

on 16 April 2018 and 19 April 2018.

As part of the Comprehensive Refinancing and the Bond Issue, EMGS has today

called, in full, the bond issue described as FRN Electromagnetic Geoservices ASA

Senior Unsecured Callable Bond Issue 2013/2016, with ISIN NO 001 0682537 (the

"Existing Bond Issue").

The Company's call option exercise notification to the bond trustee is attached

to this stock exchange notification, together with a copy of the bond trustee's

further notification to the bondholders.

In accordance with the terms of the Existing Bond Issue and the Company's

exercise notification, the Existing Bond Issue will be repaid in full by the

Company at 103% of par value (plus accrued interest) on 7 June 2018.

For further information, please 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,

Villahermosa, 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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