Electromagnetic Geoservices ASA

Regulatory Filings • May 30, 2016

23rd licensing round awards generate multi-client revenues for EMGS

23rd licensing round awards generate multi-client revenues for EMGS

On 18 May 2016, The Ministry of Petroleum and Energy announced the offer of ten

new production licenses in the 23rd licensing round on the Norwegian continental

shelf to a total of thirteen (13) companies. All ten licenses are in the Barents

Sea, of which three licenses are in the new area in the southeastern Barents

Sea.

Based on these awards, Electromagnetic Geoservices ASA (EMGS) expects to realize

uplift revenues, net after adjustment for partner's share of revenues, of

approximately USD 9.5 million from data-licensing agreements related to the

Company's multi-client library in the Barents Sea.

The uplift revenues, which will be recognized in the second quarter 2016, are

subject to EMGS customers' formal approval of the awards offered by the Ministry

of Petroleum and Energy.

"We are very pleased with the results of the 23rd licensing round and, in

addition to the uplift revenues, we see significant late sales potential owing

to our extensive and well-positioned data library in the Barents Sea," says

Christiaan Vermeijden, CEO of EMGS.

Contact

Charlotte Knudsen, EMGS head of investor relations, +47 97 56 19 59

About EMGS

EMGS, the marine electromagnetic (EM) market leader, uses its proprietary 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 probability of

success.

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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