Electromagnetic Geoservices ASA

Regulatory Filings • Dec 20, 2017

EMGS enters into second prefunded multi-client contract in Indonesia

EMGS enters into second prefunded multi-client contract in Indonesia

Reference is made to the stock exchange notification published by

Electromagnetic Geoservices ASA (the "Company" or "EMGS") on 16 November 2017,

wherein it was announced that EMGS had received Letters of Intent for two

contracts under which EMGS will perform prefunded multi-client acquisitions

offshore Indonesia. Reference is further made to the stock exchange notification

published by the Company on 19 December 2017 wherein it was announced that a

final contract with a minimum gross contract value of USD 1.8 million had been

entered into under one of the Letters of Intent while the second Letter of

Intent remained outstanding.

EMGS is pleased to announce that a final contract has been entered into under

the second Letter of Intent. The contract has a minimum gross contract value of

USD 1.0 million, giving a combined minimum gross value for the two contracts of

USD 2.8 million.

Both surveys will be executed using the vessel BOA Thalassa, with expected

start-up in December 2017 and completion in January 2018.

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.