Electromagnetic Geoservices ASA

Legal Proceedings Report • May 8, 2014

EMGS - agreement with Nalcor Energy in Eastern Canada for 3D multi-client EM survey

EMGS - agreement with Nalcor Energy in Eastern Canada for 3D multi-client EM survey

EMGS has signed a multi-client license agreement with Nalcor Energy, the

Provincial Energy Corporation of Newfoundland and Labrador, for the acquisition

of up to 13,500 km2 in a multi-season campaign.

The CSEM survey is expected to begin in June of this year and will target the

Flemish Pass Basin, where recent major oil discoveries have been made.   The

survey will collect 4,000km2 of 3D EM data calibrated to these discoveries and

will image key prospects in nearby areas. Integrated data delivery will be

available in early 2015. This survey is supported by industry pre-funding.

"We are very pleased to have Nalcor Energy invest in this important project for

Newfoundland and Labrador. Working closely with Nalcor in this large region

presents a tremendous opportunity for clients and service providers alike,"

stated Roar Bekker, CEO of EMGS.

Richard Wright, Manager Exploration of Nalcor Energy, added "The offshore basins

of Newfoundland and Labrador are relatively underexplored, particularly in the

slope and deepwater.    Investing in this calibrated 3D EM survey with EMGS will

provide the global industry with a new tool to identify and de-risk new leads

and high- grade existing prospects in this frontier area.

Contacts

Roar Bekker, EMGS chief executive officer, +47 911 41 149

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

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

About Nalcor Energy

Nalcor Energy is Newfoundland and Labrador's Provincial Crown Energy Company.

Nalcor Energy's business includes the development, generation, transmission and

sale of electricity; the exploration, development, production and sale of oil

and gas: industrial fabrication and energy marketing. Focused on sustainable

growth, the company is leading the development of the province's energy

resources and has a corporate-wide framework which facilitates the prudent

management of its assets while continuing an unwavering focus on the safety of

its workers and the public.  Nalcor has a staff of 1400 in five lines of

business. Newfoundland and Labrador Hydro, Churchill Falls, Oil and Gas, Lower

Churchill Project and Bull Arm Fabrication.

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#1783725]