Electromagnetic Geoservices ASA

Earnings Release • Dec 27, 2017

EMGS reports multi-client late sales and revenues related to existing multi-client licenses

EMGS reports multi-client late sales and revenues related to existing multi-client licenses

Electromagnetic Geoservices ASA (the "Company" or "EMGS") has entered into an

agreement with one of its clients related to the client's licenses to CSEM data

from EMGS' multi-client library in Norway. The agreement covers the client's

merger with another entity and the merger fees payable as a result of this, as

well as an upfront settlement of all uplifts which would otherwise be payable to

EMGS from that client as a result of license awards in APA17 and the 24(th)

licensing round in Norway.

Furthermore, EMGS has entered into a data licensing agreement related to its

existing CSEM multi-client library in the Americas.

The two agreements mentioned above represent combined net revenues to EMGS of

approximately USD 5.9 million.

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,

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.