Electromagnetic Geoservices ASA

EMGS - Provisional agreement

Electromagnetic Geoservices ASA (EMGS) is pleased to announce that a customer

and the Company have reached a provisional agreement worth approximately USD 8

million. EMGS plans to send a new stock exchange notice when the agreement is

formalised. This is expected to take place within this month.

Contact

Hege Veiseth, CFO, +47 99 21 67 43

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.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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