Electromagnetic Geoservices ASA

M&A Activity • Dec 3, 2014

EMGS commence new 3D EM multi-client campaign and expands cooperation with TGS in Barents Sea

EMGS commence new 3D EM multi-client campaign and expands cooperation with TGS in Barents Sea

Electromagnetic Geoservices ASA (EMGS) and TGS have agreed to further expand the

companies' cooperation agreement in the Barents Sea. The companies have agreed

to acquire 3D EM data over approximately 10 new blocks in the Nordkapp and

Tiddly areas and have a 50% ownership each in the data acquired.

The contribution from TGS related to the new campaign will be booked as a

reduction of the carrying value of EMGS existing multi-client library.

EMGS expect to commence acquisition, using the vessel Atlantic Guardian, in

about two weeks. The campaign has an expected duration of 2 month and is

supported by industry funding.

Contacts

Roar Bekker, EMGS chief executive officer, +47 911 41 149

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#1876327]