Electromagnetic Geoservices ASA

Major Shareholding Notification • Mar 17, 2014

EMGS - 3D EM contract now signed in Africa

EMGS - 3D EM contract now signed in Africa

On 14 February 2014 Electromagnetic Geoservices ASA (EMGS) announced that the

Company had received a Letter Of Intent (LOI) to award a contract for a minimum

of USD 8.3 million for 3D EM data acquisition in North-West Africa. The LOI has

resulted in a signed contract with an undisclosed client.

The vessel BOA Thalassa has commenced the survey, which is expected to take

about one month, after which the vessel will be moved to Norway.

Contacts

Roar Bekker, EMGS chief executive officer, +47 73 56 88 10

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.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1769007]