Electromagnetic Geoservices ASA

EMGS: Voluntary bond buy-back offer to all bondholders in FRN Electromagnetic Geoservices ASA Senior Unsecured Callable Bond Issue 2013/2016

Reference is made to the stock exchange notifications published by

Electromagnetic Geoservices ASA ("EMGS" or the "Company") pertaining to the

Comprehensive Refinancing, including the stock exchange notifications published

on 16 April 2018 and 19 April 2018.

Reference is further made to the stock exchange notification published by the

Company on 20 April 2018, wherein it was announced that the Company had called,

in full, the bond issue described as FRN Electromagnetic Geoservices ASA Senior

Unsecured Callable Bond Issue 2013/2016, with ISIN NO 001 0682537 (the "Existing

Bond Issue").

The Company has today offered all bondholders in the Existing Bond Issue to sell

its bonds to the Company (the "Bond Buy-Back") for immediate discharge by the

Company. The purpose of the Bond Buy-Back is to offer an alternative to

bondholders who wish to receive early settlement of their bonds under the

Existing Bond Issue.

The Bond Buy-Back will commence today, 14 May 2018, at 22:00 CET and expire on

22 May 2018 at 10:00 CET. Settlement under the Bond Buy-Back is expected to take

place on or about 22 May 2018.

The offer price under the Bond Buy-Back is equal to 103% of the par value of all

bonds offered, plus accrued but unpaid interest up until, but not including, the

settlement date under the Bond Buy-Back.

The Bond Buy-Back is offered to all bondholders on equal terms, and is not

conditional on any minimum number of bonds being offered to the Company.

Further details regarding the Bond Buy-Back are included in the attached Bond

Buy-Back offer document and the bondholder offer form.

For further information, please contact:

Hege Veiseth, CFO, +47 99 21 67 43

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

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