Electromagnetic Geoservices ASA

Regulatory Filings • Dec 23, 2020

EMGS: Update to Letter of Award

EMGS: Update to Letter of Award

Reference is made to the stock exchange notification published by

Electromagnetic Geoservices ASA ("EMGS" or the "Company") on 2 December 2020

wherein the Company announced that it had received a letter of award for a 3D

CSEM and MT (magnetotelluric) multi-client survey in the Gulf of Mexico.

EMGS is pleased to announce that the project contract has now been signed.

The Company has begun preparations and expects commencement of the survey in

late Q1 2021.

Contact

Anders Eimstad, Chief Financial Officer, +47 94 82 58 36

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.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.