Electromagnetic Geoservices ASA

Earnings Release • Oct 19, 2020

EMGS: Reports multi-client revenue

EMGS: Reports multi-client revenue

?Electromagnetic Geoservices ASA ("EMGS" or the "Company") has entered into

late-sales multi-client licensing agreements related to its existing multi-

client library in Norway. These agreements represent combined revenues of

approximately USD 1.2 million.

The Company will recognise the revenue in the fourth quarter of 2020.

Contact

Anders Eimstad, EMGS Chief Financial Officer, +47 948 25 836

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.

For more information, visit www.emgs.com (http://www.emgs.com/)

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act