Electromagnetic Geoservices ASA

Audit Report / Information • Mar 30, 2017

EMGS - Board of Directors approved the audited financial statements for 2016

EMGS - Board of Directors approved the audited financial statements for 2016

The Board of Directors of Electromagnetic Geoservices ASA (EMGS) has, on 29

March 2017, approved the 2016 annual financial statements prepared in accordance

with International Financial Reporting Standards ("IFRS").

The Company reported its unaudited fourth quarter and preliminary full year

2016 results on 9 February 2017. There were no material changes in the

statements compared to those presented in February.

Please find EMGS' Annual Report for 2016 enclosed.

Contact

Hege Veiseth, EMGS Chief Financial Officer, +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 exploration experts 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 of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.