Electromagnetic Geoservices ASA

EMGS and BOA agree on new terms for the charter agreements for the BOA vessels

Electromagnetic Geoservices ASA (EMGS) has signed an extended charter agreement

for the vessel BOA Thalassa with BOA SBL AS (owner of the vessel) at new and

improved commercial terms. The new terms are valid as of 1 October 2015.

"We are very pleased with this new agreement. It lowers our cost commitment and

gives us operational flexibility," says Stig Eide Sivertsen, CEO of EMGS.

Following the agreement, EMGS will re-deliver the BOA Galatea on 15 December,

which originally was the expiry date for BOA Thalassa. The charter agreement for

BOA Thalassa will be extended from 17 July, which originally was the expiry date

for BOA Galatea, until 1 April 2017.

The agreement provides EMGS with improved commercial terms, which will benefit

the Company under the current contract work in Malaysia and going forward. The

agreement includes different rates for when the vessel is in operation, idle or

laid up.

Contacts

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#1956251]

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