Electromagnetic Geoservices ASA

EMGS - Letter of Award with an oil company in Malaysia for BOA Thalassa

Electromagnetic Geoservices ASA (EMGS) has received a letter of award (LOA) for

a contract worth approximately USD 4.2 million from an oil company for 3D EM

data acquisition over their operated area in Malaysia. The two parties have

entered into a two-year contract, of which this LOA constitutes the commitment

for the first and initial phase. The parties have also designed a survey for an

optional second phase in 2016.

"We are very pleased to announce this letter of award with a repeat customer in

Malaysia. It is also important to us that it is a two-year agreement, with

expectations for more work next year," says CEO of EMGS, Bjarte Bruheim.

The survey will be done using the vessel BOA Thalassa which is expected to

commence acquisition as soon as possible. The duration of the work is expected

to be around one month.

Contacts

Svein Knudsen, EMGS chief financial officer, +47 911 41 149

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

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 main offices in Trondheim and Oslo,

Norway; Houston, USA; and Kuala Lumpur, Malaysia.

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#1944128]

AI Terminal