Electromagnetic Geoservices ASA

Capital/Financing Update • Mar 2, 2015

EMGS - Forward rate agreement to secure foreign exchange gain

EMGS - Forward rate agreement to secure foreign exchange gain

Electromagnetic Geoservices ASA (EMGS) has entered into a forward rate agreement

to purchase NOK 350 million in exchange for USD 46.1 million, to secure the

unrealized foreign exchange gain arising from the Company's existing NOK 350

million bond loan.

The bond loan was initially entered into when the exchange rate was NOK/ USD

6.07, resulting in a loan obligation at that time of USD 57.7 million.

Contacts

Svein Knudsen, Chief Financial officer +47 911 41 149

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#1898374]