Electromagnetic Geoservices ASA

EMGS and North Sea Commander Shipping AS agree on new terms for the charter agreement of the Atlantic Guardian

Electromagnetic Geoservices ASA (EMGS) has signed an extended charter agreement

for the vessel Atlantic Guardian with North Sea Commander Shipping AS (owner of

the vessel) at new and improved commercial terms. The new terms are valid as of

1 October 2016.

EMGS and the owners have agreed to a reduction of the charter hire rate by

approximately 27% and a new 5 year term for the charter.

"We are pleased to see that our suppliers are contributing to the targeted cost

savings in the Company. The new terms provide for a sound commercial basis when

the market turns," says Christiaan Vermeijden, CEO of EMGS.

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.

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