Electromagnetic Geoservices ASA

Regulatory Filings • Mar 24, 2017

EMGS reports approximately USD 3.7 million in sales

EMGS reports approximately USD 3.7 million in sales

Electromagnetic Geoservices ASA (EMGS) announces that the Company has entered

into agreements involving data licensing (prefunding and late sales) related to

3D EM data in the Barents Sea, Norway. The agreements represent revenues of

approximately USD 3.7 million.

The use of 3D EM data allows our customers to reduce exploration uncertainty.

EMGS is pleased to announce the execution of the above agreements, says

Christiaan Vermeijden, CEO.

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.