Electromagnetic Geoservices ASA

Result of the bond buy-back offer to bondholders in FRN Electromagnetic Geoservices ASA Senior Unsecured Callable Bond Issue 2013/2019

Reference is made to the stock exchange announcement by Electromagnetic

Geoservices ASA ("EMGS" or the "Company") on 23 March 2017 regarding the buy-

back offer of the entire outstanding amount of EMGS02 (ISIN NO 001 068253.7)

senior unsecured callable bonds at 70% of par.

The buy-back offer period closed at 16:00 CET on 28 March 2017.

EMGS hereby confirms to buy back a nominal amount of NOK 24 million in EMGS02 as

per this offer.

The settlement date of the Bond Buy-Back is expected to be on 31 March 2017.

Following the settlement, the nominal outstanding amount of EMGS02 will be NOK

246 million.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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 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

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