Electromagnetic Geoservices ASA

EMGS reports sale from its multi-client library in Flemish Pass Basin offshore Newfoundland, Canada

Electromagnetic Geoservices ASA (EMGS) is pleased to announce that the Company

has entered into a data licensing agreement with a major international oil

company for the provision of 3D electromagnetic (EM) data from the multi-client

data library over the Flemish Pass Basin offshore Newfoundland, Canada worth a

total of USD 3.9 million.

The EM data will be delivered in May 2016 and thus the multi-client revenue will

be recognised in the second quarter of 2016.

"We are very pleased with this agreement, which represents a breakthrough for

the application of our technology in this region. The offshore basins of

Newfoundland are largely underexplored and the use of 3D EM data will aid

companies in developing a better understanding of the basin's complex geological

structures and its hydrocarbon potential." says Christiaan Vermeijden, CEO of

EMGS.

The multi-client data was acquired in 2014.

Contacts

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.

[HUG#2014905]

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