Electromagnetic Geoservices ASA

Regulatory Filings • Sep 14, 2016

EMGS reports sale from its multi-client library in the Barents Sea, Norway

EMGS reports sale from its multi-client library in the Barents Sea, Norway

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

into a data licensing agreement for the provision of 3D CSEM data from the

multi-client data library in the Barents Sea providing net revenue of USD 2.1

million to EMGS. The revenue will be recognized in the third quarter of 2016.

EMGS is pleased with the oil company's purchase of the 3D CSEM data to evaluate

the exploration for hydrocarbons in the Barents Sea, says Christiaan Vermeijden,

CEO.

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 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.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.