Electromagnetic Geoservices ASA

Capital/Financing Update • Jun 9, 2017

EMGS reports prefunding for multi-client acquisition in Norway

EMGS reports prefunding for multi-client acquisition in Norway

Electromagnetic Geoservices ASA (EMGS) announces that the Company has entered

into prefunding agreements related to 3D CSEM data surveys in the Barents Sea

and Norwegian Sea in Norway using the conventional technology and the new Deep

Blue source. The agreements represent revenues of approximately USD 3 million.

The data will be acquired during the 2017 summer season.

The Company is also pleased to announce that the original JIP agreement has been

amended wherein the Deep Blue source is now available to the industry. The Deep

Blue source provides a significantly higher output when compared to the

conventional system.

"After the successful JIP test surveys during the summer of 2016, we are very

pleased to see the first commercial uptake of the new equipment. Providing the

industry with a much stronger source output is a breakthrough for EMGS and our

EM technology as we will be more sensitive to deeper targets and smaller targets

close to infrastructure", says Christiaan Vermeijden, CEO.

Contact

Hege Veiseth, CFO, +47 992 16 743

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 offices in Trondheim, Oslo, Houston,

Villahermosa, Rio de Janeiro and Kuala Lumpur.

For more information, visit www.emgs.com

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.