Electromagnetic Geoservices ASA

EMGS - Letter of award for vessel Atlantic Guardian in Norway

Electromagnetic Geoservices ASA (EMGS) has received a Letter of Award (LOA) from

North Energy ASA for a contract of NOK 20 million (USD 3.3 million) for 3D EM

data acquisition over and in the vicinity of license PL509S in the North Sea.

"This contract means that EM is becoming accepted as an exploration tool in the

North Sea and re-iterates that the application of the EM technology will be an

integral part of North Energy's exploration workflow," says CEO of EMGS, Roar

Bekker.

"We believe that the use of electromagnetic data, together with other advanced

geophysical technologies, will considerably de-risk our exploration portfolio in

the North Sea," says SVP of exploration and business development of North

Energy, Kristen Berli.

The survey is expected to commence mid-April, using the vessel Atlantic

Guardian.

Contacts

Roar Bekker, EMGS chief executive officer, +47 73 56 88 10

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#1774876]

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