Electromagnetic Geoservices ASA

Capital/Financing Update • Aug 26, 2016

EMGS reports prefunding for multi-client acquisition in Norway

EMGS reports prefunding for multi-client acquisition in Norway

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

into a data licensing agreement with a repeat customer for 3D EM data to be

acquired over the Hoop area in the Barents Sea. The pre-funding amounts to USD

1 million.

This new acquisition is expected to take place in Q3 2016 and will become part

of the EMGS multi-client library.

Christiaan Vermeijden, CEO of EMGS, is pleased that see that such a 3D CSEM

survey continues to add value to the exploration efforts for hydrocarbons in the

Barents Sea and encourages other customers to take advantage of the vessel being

active in the area.

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.