Electromagnetic Geoservices (EMGS)

[pdx]

Starter en tråd om ELECTROMAGNETIC GE (EMGS.OL) siden en del har den i favoritt-listen eller i porteføljen sin

Electromagnetic Geoservices ASA, together with its subsidiaries, provides electromagnetic (EM) surveying services to the offshore oil and gas exploration industry worldwide. It is involved in the planning, acquisition, processing, modelling, interpretation, and integration of EM data.

The company uses its patented EM survey method to detect hydrocarbons in offshore reservoirs. Its products and services include integrated interpretation consultancy, magnetotelluric survey, workflow integration, training, and controlled-source electromagnetic services.

The company was founded in 2002 and is headquartered in Trondheim, Norway.

La oss starte diskusjonen! @Haren @Janisak @Sunhome @Jensarven @Honda1380 @Frodoen @pdx

[TekBot]

EMGS: Result of voluntary bond buy-back offer

Reference is made to the stock exchange notification published by Electromagnetic Geoservices ASA (“EMGS” or the “Company”) on 14 May 2018 announcing the voluntary buy-back of bonds (the “Bond Buy-Back”) under 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 offer period under the Bond Buy-Back expired today, 22 May 2018.

Under the Bond Buy-Back, the Company received offers for, and has repurchased for immediate discharge, bonds with a total aggregate nominal value of NOK 112,004,425. The repurchased bonds were repurchased at the Bond Buy-Back offer price of 103% of the par value of each bond, plus accrued but unpaid interest up until, but not including, the settlement date under the Bond Buy-Back.

The remaining bonds under the Existing Bond Issue will, in accordance with the Company’s call option notice of 20 April 2018, be settled in full on 7 June 2018.

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

***

 

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: EMGS via Globenewswire

Nyheten er levert av GlobeNewswire.

http://www.netfonds.no/quotes/release.php?id=20180522.GlobeNewswire.HUG2194497

[TekBot]

Oslo Børs - Electromagnetic Geoservices ASA - Mottatt søknad om notering av obligasjonslån

Oslo Børs har mottatt søknad om børsnotering av ISIN NO0010821010.

Det følger av verdipapirhandelloven kapittel 5 at anvendelsesområde for
informasjonsplikt gjelder for låntagere hvis obligasjoner er eller er søkt
notert på børs. Informasjonsplikten etter reglene i verdipapirhandelloven er fra
og med i dag gjeldende for ovennevnte lån.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=451859

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20180522.OBI.20180522S53

[TekBot]

Oslo Børs - Electromagnetic Geoservices ASA - Received application for listing of bonds

Oslo Børs has received an application for ISIN NO0010821010 to be admitted to
stock exchange listing.

Section 5 of the Securities Trading Act sets out that the disclosure of
information requirement is applicable to issuers with bonds that is listed or
has been applied for listing on the stock exchange. The duty to disclose
information under the provisions of the Securities Trading Act is as of today
applicable for the above mentioned bond.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=451860

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20180522.OBI.20180522S54

[Kronn]

Gjør noen dårlig og noen gode trader, her ble det vertfall en god, vertfall prosentmessig, skulle jo self hatt ett høyere antal Aksjer

Inn på 2,17 igår og ut på 3,2 idag

[strongbuy]

Gratulerer. Rakk ikke hive meg på denne, var i søkelyset men tenkte det var et blaff.

[Kronn]

eg satt og følgte med, ville egentlig ta den da den var under 2kr litt rundt åpning, men ble litt treg, så måtte løpe litt, var veldig agresivt en stund, så eg gamlet på og overnatte, ble en bra sak, men dog ikke det store antallet, men noen kroner ble det

[UNO]

Hva er det som har endret det fundamentale i selskapet og markedes prising av selskapet? De har jo seismikk på noen områder i Barentshavet, som potensielt kan ha en stor verdi å årene som kommer. I tillegg til en relativt smal aksjonærbase, med få frie aksjer i omløp. Noe som må ses i sammenheng med de siste kontraktene.

MGS issued a USD 32.5 million convertible bond bearing an interest in May 2018. The loan can at any time be converted into common shares in EMGS at the conversion price of USD 0.42677 per share until the maturity date on 9 May 2023. The USD 32.5 million convertible bond is separated into a liability and an equity component. On issuance of the convertible bond, the fair value of the liability component is determined using a market rate for an equivalent non-convertible bond; and this is classified as a financial liability measured at amortised cost (net of transaction costs) until it is extinguished on conversion or redemption. At 31 December 2018 the carrying value of the liability component was estimated to USD 30.8 million. The remainder of the proceeds is allocated to the conversion option that is recognised and calculated in shareholders’ equity. The carrying amount of the conversion option of USD 1.9 million is not re-measured in subsequent periods.

Innspill?

[Kronn]

Nye kontrakt bekreftet, er store ordrer i emgs nå, vet ikke hvilket marginer man her regner, men inntekter kommer, allerede i q1 skal det bokføres, kan emgs komme ut av gjørmen ?

https://www.netfonds.no/quotes/release.php?id=20190311.GlobeNewswire.GNW1000151989-en

[TekBot]

28/03-2019 19:58:54: (EMGS) EMGS participates in sole-sourced tender process

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Vis børsmeldingen

Electromagnetic Geoservices ASA (“EMGS” or the “Company”) is currently participating in a sole-sourced tender process for a multi-year acquisition contract.

Based on the information currently available to EMGS, the Company believes that the contract, if awarded, will have a value in excess of USD 30 million over a two-year period.  

The Company believes that the tendering process will be completed or, as the case may be, terminated within the second quarter of 2019.

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, Mexico City, Rio de Janeiro and Kuala Lumpur.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

http://www.netfonds.no/quotes/release.php?id=20190328.GlobeNewswire.GNW1000154970-en

[Investor]

Noe spesielt å melde en kontrakt før den er bekreftet? Vitner om litt desperasjon?

Hva tenker kunden?

[TekBot]

02/04-2019 16:19:42: (EMGS) EMGS: Update on multi-client Letter of Intent

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Reference is made to the stock exchange notification published by Electromagnetic Geoservices ASA (.EMGS. or the .Company.) on 23 March 2019, announcing that the Company had received a multi-client letter of intent with an approximate value of USD 2.5 million.

EMGS and the customer, Spirit Energy Norway AS on behalf of the PL1031 license group, have today entered into a final contract under the letter of intent.

Following an extension of the scope of work, the final contract value is approximately USD 3.4 million.

The vessel Atlantic Guardian has started mobilisation for the survey. It is expected that acquisition will commence early April and be completed within the second quarter of 2019.

Contact
Hege Veiseth, CFO, +47 992 16 743

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, Mexico City, Rio de Janeiro and Kuala Lumpur.

For more information, visit

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

http://www.netfonds.no/quotes/release.php?id=20190402.GlobeNewswire.GNW1000175849-en

[TekBot]

04/04-2019 08:29:06: (EMGS) EMGS - Vessel update and activity for the first quarter 2019

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Electromagnetic Geoservices ASA (the “Company” or “EMGS”) releases information on vessel activity and utilisation 4-5 working days after the close of each quarter. The Company defines vessel utilisation as the percentage of the vessel charter period spent on proprietary or multi-client data acquisition. Downtime (technical or maritime), mobilisation, steaming, and some standby activities are not included in the utilisation rate.

Vessel utilisation for the first quarter 2019 was 11% compared with 37% for the first quarter in 2018.

In the first quarter of 2019, the Company’s vessels were allocated 11% to proprietary work and no time was spent on multi-client projects. In the comparable quarter of 2018, the vessels were allocated 37% to multi-client projects and no time was spent on proprietary work.

EMGS had two vessels on charter and recorded 6.0 vessel months in the quarter. In the first quarter 2018, the Company also had two vessels on charter.

Vessel activity
The Atlantic Guardian began the first quarter acquiring data on a proprietary contract in South America. This proprietary survey was completed on 14 January 2019. After that, the vessel was idle before she transited to Norway in March. As announced on 2 April 2019, the Atlantic Guardian has started mobilisation for a fully pre-funded multi-client acquisition over PL 1031 in the Norwegian Barents Sea.

The vessel.s utilisation for the first quarter was 13%.

The BOA Thalassa was idle until she commenced a proprietary survey in South-East Asia on 23 March 2019.

The vessel.s utilisation for the first quarter was 8%.

Multi-client revenues in the first quarter
The Company expects to record approximately USD 7 million in multi-client revenues for the first quarter 2019.

EMGS will publish its first quarter 2019 financial results on Thursday 9 May 2019 at 07:30 (local time, Norway). A presentation will be broadcasted live over the Internet, starting at 10:00 (local time, Norway). To access the presentation, please go to the Company’s homepage (www.emgs.com) and follow the link.

Contact
Hege Veiseth, EMGS Chief Financial Officer, +47 992 16 743

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 exploration experts 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, Mexico City, Rio de Janeiro and Kuala Lumpur.

For more information, visit

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

http://www.netfonds.no/quotes/release.php?id=20190404.GlobeNewswire.GNW1000176198-en

[TekBot]

04/04-2019 13:21:29: (EMGS) EMGS signs second well calibration study

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Electromagnetic Geoservices ASA (“EMGS” or the “Company”) is pleased to announce that it has signed an agreement for its second full-scale CSEM well calibration study project in cooperation with Equinor. The revenue associated with this second well calibration study is expected to be approx. USD 1 million over a one-year period.

The objective of these well calibration studies is to provide global learning and experience integrating CSEM data from EMGS. global multi-client library with seismic- and well data, thereby allowing the Company.s customers to better understand and assess for each opportunity going forward whether and how CSEM should be applied to further de-risk their exploration portfolios.

CEO of EMGS, Bjørn Petter Lindhom, comments:

.We are very excited and proud that another one of our customers has decided to carry out a well calibration study in cooperation with EMGS. Through such a study, Equinor.s own personnel can add to their understanding of, and verify when and how, CSEM provides added value.

We are confident that customers who undertake such a study will achieve an even better understanding of the value of CSEM information, and the added returns and reduced costs which can be achieved when using the product, thereby strengthening their willingness to invest in such information… 

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, Mexico City, Rio de Janeiro and Kuala Lumpur.

About Equinor
Equinor is an international energy company present in more than 30 countries worldwide, including several of the world.s most important oil and gas provinces. Equinor is the leading operator on the Norwegian continental shelf and have substantial international activities. Equinor is engaged in exploration, development and production of oil and gas, as well as wind and solar power. 

http://www.netfonds.no/quotes/release.php?id=20190404.GlobeNewswire.GNW1000176287-en

[TekBot]

23/04-2019 08:57:47: (EMGS) OSLO BØRS - MATCHING HALT

A matching halt has been imposed in anticipation of an announcement from the
company.
…

Vis børsmeldingen

http://www.netfonds.no/quotes/release.php?id=20190423.OBI.20190423S25

[TekBot]

23/04-2019 09:25:32: (EMGS) EMGS receives Letter of Award

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Reference is made to the stock exchange notification published by Electromagnetic Geoservices ASA (“EMGS” or the “Company”) on 28 March 2019, wherein the Company announced that it is participating in a sole-sourced tender process for a multi-year acquisition contract.

EMGS is pleased to announce that the Company has now received a letter of award for the contract. The multi-year call-off acquisition contract, awarded by one of the world.s largest national oil companies, has a minimum value of approx. USD 29.3 million, and a maximum value of approx. USD 73.3 million, over a two-year period. Based on current acquisition estimates, the Company expects that all or a substantial part of the minimum contract value will be recognised in 2019.

The Company expects that final contract execution will take place within approx. three weeks. The Company will mobilise the Atlantic Guardian for the project.

CEO of EMGS, Bjørn Petter Lindhom, comments:

.This letter of award from a repeat customer, together with the on-going proprietary acquisition in south-east Asia, has secured backlog for both of the Company.s vessels, providing a sound basis for two-vessel operation for the Company in 2019.

It also gives us confidence that our strategy of integrating CSEM into oil companies. exploration workflow is on the right track. More and more oil companies. realise that CSEM is an important tool for reducing exploration risk and cost, with an attractive ROI when used correctly…

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, Mexico City, Rio de Janeiro and Kuala Lumpur.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

http://www.netfonds.no/quotes/release.php?id=20190423.GlobeNewswire.GNW1000178862-en

[TekBot]

23/04-2019 09:31:57: (EMGS) OSLO BØRS - MATCHING HALT ENDS

See announcement from EMGS at 09:25 CET. Matching halt to end at 09:40 CET.
There will be a Re-Opening Auction Call until 09:45 CET.
…

Vis børsmeldingen

http://www.netfonds.no/quotes/release.php?id=20190423.OBI.20190423S32

[TekBot]

23/04-2019 09:32:48: (EMGS) EMGS secures second guarantee facility

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Electromagnetic Geoservices ASA (“EMGS” or the “Company”) is pleased to announce that it has secured a second guarantee facility, to supplement the Company.s existing USD 10 million guarantee facility. The new guarantee facility (the .New Facility.) has a maximum limit of USD 7.5 million and is limited in scope to providing certain performance and warranty guarantees required under the multi-year acquisition contract which the Company, as announced in the stock exchange notification published 23 April 2019, has received a letter of award for.

The New Facility is provided by the Company.s existing bank. At the time of establishment, the New Facility will be fully guaranteed by the Company.s three largest shareholders (the .Shareholder Guarantors.). The shareholder guarantees will over time be replaced by a pledged cash depot (the .Pledged Depot.) to be built up by the Company, which will serve as security for the New Guarantee.  

A counter guarantee agreement entered into between EMGS and the Shareholder Guarantors regulates the Company.s obligations towards the Shareholder Guarantors in connection with the New facility. The Company will pay the Shareholder Guarantors a guarantee commission of 8% p.a. of the guaranteed amount. As the Pledged Depot is built up, the guarantee commission will be reduced to 1.5% p.a. for such parts of the New Guarantee which are covered by the Pledged Depot, and to 0% as the Shareholder Guarantors are released form their obligations towards the bank. A cash sweep mechanism has been agreed with the Shareholder Guarantors to ensure swift build-up of the Pledged Depot. Under current estimates, the Company expects that the Pledged Depot will reach the full USD 7.5 million during the course of the first quarter 2020.

Under certain change of control events, including a sale by a Shareholder Guarantor of its shares in the Company, EMGS will be obligated to, within 30 days, replace the relevant Shareholder Guarantor with a new guarantor (or otherwise ensure the release of such Shareholder Guarantor.s obligations towards the bank).

CEO of EMGS, Bjørn Petter Lindhom, comments:

.The New Facility is a prerequisite for the Company to be able to move forward with the multi-year acquisition contract for which we have received a letter of award from the customer. As such, this is a pivotal part of the puzzle in EMGS. efforts to secure a material addition to the Company.s backlog.

EMGS is very grateful towards the Shareholder Guarantors who have made this possible, and highly committed to building up the required Pledged Depot as soon as practicable possible to ensure that the bank will release the Shareholder Guarantors from their obligations…

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, Mexico City, Rio de Janeiro and Kuala Lumpur.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

http://www.netfonds.no/quotes/release.php?id=20190423.GlobeNewswire.GNW1000178864-en

[Buffet]

Det virker som ting begynner å løsne i Emgs, men en emisjon til er vel ganske unngåelig?

[TekBot]

26/04-2019 15:57:17: (EMGS) EMGS: Board of directors approves audited financial statements and annual report for 2018

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The board of directors of Electromagnetic Geoservices ASA (.EMGS. or the .Company.) has today approved EMGS. 2018 annual financial statements and annual report.

There are no material changes in the financial statements compared to the preliminary and unaudited full year results presented by the Company on 30 January 2019.   

EMGS. annual report for 2018 is enclosed to this stock exchange notification.

Contact
Hege Veiseth, EMGS Chief Financial Officer, +47 992 16 743

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 exploration experts 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, Mexico City, Rio de Janeiro and Kuala Lumpur.

For more information, visit

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

Attachment

EMGS ANNUAL REPORT 2018

http://www.netfonds.no/quotes/release.php?id=20190426.GlobeNewswire.GNW1000179727-en