Electromagnetic Geoservices ASA

EMGS secures further pre-funding of multi-client EM survey in US Gulf of Mexico

EMGS has received additional pre-funding for the ongoing Daybreak 3D multi-

client electromagnetic survey in the Alaminos Canyon protraction of the US Gulf

of Mexico.

The survey started on 22 February and is expected to be completed mid-June with

integrated data delivery starting in June. The survey has strong industry

funding.

"We are very pleased with the initial industry interest for this project. The

strong level of pre-funding confirms both the project potential and the

importance of the US Gulf of Mexico as a new multi-client area for us. We have

extensive experience from working with Pemex just south of this area, so we are

excited to use this opportunity to further extend our experience along the

Perdido trend," says Roar Bekker, CEO of EMGS.

"Based on existing 2D data provided by TGS, we will, for the first time in the

US, deliver both fully integrated 3D EM products as well as using the EM data to

further define salt and structural features to provide a better subsurface image

in the region. We are optimistic about the upcoming Western Gulf of Mexico lease

sale and excited to show how our EM data can improve leasing decisions for new

customers," says David Hicks, President, Western Hemisphere EMGS.

The Daybreak project is the first phase of a planned multi-year program in the

US Gulf of Mexico for EMGS. This phase is expected to cover approximately 80

blocks.

Contacts

Svein Knudsen, EMGS chief financial officer, +47 73 56 88 10

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#1778844]

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