Electromagnetic Geoservices (EMGS)

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02/05-2019 09:21:11: (EMGS) EMGS . Presentation of first quarter 2019 results

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Electromagnetic Geoservices ASA (EMGS) will release its first quarter 2019 results on Thursday 09 May 2019.
CEO Bjørn Petter Lindhom and CFO Hege Veiseth will present the results from 10:00 CET.

The presentation will be broadcasted live over the Internet, and the webcast can be accessed on . It will be possible to post questions through the webcast.

The quarterly report and the presentation will be available for download on EMGS’ website and the Oslo Stock Exchange, from about 7:30am on Thursday 09 May 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.

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=20190502.GlobeNewswire.GNW1000190686-en

[TekBot]

09/05-2019 07:30:00: (EMGS) EMGS reports first quarter 2019 results

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Electromagnetic Geoservices ASA.s (.EMGS. or the .Company.) financial report and market presentation for the first quarter of 2019 are attached.

Highlights:

* The Company recorded revenues of USD 10.8 million, up from USD 4.3 million in the first quarter 2018 and down from USD 13.4 million in the fourth quarter 2018.

* Adjusted EBITDA (including capitalised multi-client expenses and vessel and office leases expenses) of negative USD 1.2 million, up from negative USD 8.1 million in the first quarter 2018.

* The Company decreased its quarterly cost base, consisting of all operational costs including multi-client investments, from USD 12.4 million in the first quarter last year to USD 12.0 million this quarter.

* Free cash increased with USD 3.2 million during the quarter, to USD 9.6 million.

* During the quarter, the Atlantic Guardian completed the proprietary acquisition contract in South America. The BOA Thalassa commenced work under the USD 24 million proprietary acquisition contract in South-East Asia.

* Backlog at the end of the quarter of approx. USD 26 million.

CEO of EMGS, Bjørn Petter Lindhom, comments:

.EMGS has had a strong start to 2019, with a substantial increase to the Company.s backlog. The Company.s backlog as of today is approx. USD 100 million, including the LOA received from Pemex for a multi-year proprietary acquisition contract, announced by EMGS on 23 April 2019.

Furthermore, I am very pleased to note that in the first quarter of 2019, the Company has experienced increased sales traction in all major business regions…

The results will be presented at 10:00 (local time Norway) today. The presentation will be held by CEO Bjørn Petter Lindhom and CFO Hege A. Veiseth and will be broadcasted live over the Internet. The webcast can be accessed on www.emgs.com. It will be possible to post questions through the webcast.

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

Attachments

Q1 2019 Report

Q1 2019 Presentation

http://www.netfonds.no/quotes/release.php?id=20190509.GlobeNewswire.GNW1000191817-en

[TekBot]

16/05-2019 13:22:49: (EMGS) EMGS: Pre-funded multi-client survey in the Norwegian Barents Sea

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Electromagnetic Geoservices ASA (.EMGS. or the .Company.) has entered into an agreement for a fully pre-funded multi-client 3D CSEM survey in the Norwegian Barents Sea.

The contract has a value of USD 1.25 million. The survey is expected to be executed in the second quarter of 2019.

The Company will mobilise the vessel Atlantic Guardian for the survey.

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=20190516.GlobeNewswire.GNW1000193100-en

[TekBot]

20/05-2019 15:39:14: (EMGS) EMGS: Proposed changes to the board of directors

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The chairman of the board of directors of Electromagnetic Geoservices ASA (.EMGS. or the .Company.), Mr Eystein Eriksrud, has today notified the Company that he will not seek re-election at the end of his current service period.

The Company has further been informed that Ms Anne Øian, a member of the board of directors of EMGS, will also abstain from seeking re-election at the end of her service period.

This means that Mr Eriksrud and Ms Øian will both step down from the board of directors of EMGS at the annual general meeting scheduled for 13 June 2019 (the .AGM.).

The nomination committee of EMGS has informed the Company that it will propose to the AGM that Mr Johan Kr. Mikkelsen, a current member of the board of directors, is elected as the new chairman of the board.

The nomination committee has further informed that it will propose that Ms Alexandra A. Herger is elected as a new member of the board of directors at the AGM. Ms Herger has over 40 years of experience from the E&P industry, and holds several other directorships, including as a member of the board of directors of Oslo listed Panoro Energy ASA and Stockholm listed Tethys Oil  

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=20190520.GlobeNewswire.GNW1000193665-en

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21/05-2019 15:19:18: (EMGS) EMGS: Notice of Annual General Meeting

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Notice is hereby given of the annual general meeting of Electromagnetic Geoservices ASA (.EMGS. or the .Company.). The annual general meeting will be held at the Company.s offices in Karenslyst Allé 4, 1 floor, 0278 Oslo, Norway on 13 June 2019 at 12:00 local time.

The calling notice is attached to this stock exchange notification, and will, together with all appendixes and the Company.s annual report for 2018 be published on the Company.s webpage www.emgs.com.

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, Mexico City, 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 the Norwegian Securities Trading Act

Attachment

EMGS 2019 AGM Calling Notice

http://www.netfonds.no/quotes/release.php?id=20190521.GlobeNewswire.GNW1000193867-en

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31/05-2019 12:48:36: (EMGS) EMGS: Bjorn Petter Lindhom appointed CEO

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Reference is made to the stock exchange notification published by Electromagnetic Geoservices ASA (“EMGS” or the “Company”) on 15 October 2018, wherein it was announced that Bjørn Petter Lindhom had been appointed interim CEO of the Company.

The board of directors of the Company has now resolved to make the appointment permanent.

Eystein Eriksrud, Chairman of the board of directors: "The board of directors is very pleased with the strong positive developments in EMGS. As previously announced, the Company has secured a number of important awards, including the LOA for a USD 73 million proprietary acquisition contract for Pemex and the USD 24 million acquisition contract in south-east Asia, which has further strengthened the Company.s leading position within the global EM market. 

The board of directors is very pleased to make Mr Lindhom.s appointment permanent, and look forward to continuing to work together with him and his management team…

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=20190531.GlobeNewswire.GNW1000195528-en

[TekBot]

03/06-2019 16:26:09: (EMGS) EMGS: Revenue from change of control events

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Electromagnetic Geoservices ASA (“EMGS” or the “Company”) has entered into agreements relating to certain change of control events affecting two of its customers.

The agreements entail combined payments to EMGS of approximately USD 2.7 million, which will be recognised in 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=20190603.GlobeNewswire.GNW1000195915-en

[TekBot]

04/06-2019 23:18:47: (EMGS) EMGS signs multi-year acquisition contract with PEMEX

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Reference is made to the stock exchange notifications published by Electromagnetic Geoservices ASA (“EMGS” or the “Company”) on, respectively, 28 March 2019 and 23 April 2019, wherein the Company informed that it had received a letter of award for a multi-year acquisition contract.

The final contract with the end customer, PEMEX, has now been signed.

As previously communicated, the two-year contract has a value of approx. USD 73.3 million with a minimum value of approx. USD 29.3 million.

Start of mobilisation is expected to take place early Q3 2019.

Subject to actual start-up date, it is expected that close to the full minimum value will be recognised in 2019.

The work programme is located in the Gulf of Mexico and consists of both shallow and deep-water surveys.

CEO of EMGS, Bjørn Petter Lindhom, comments:

.We are proud that PEMEX, one of the world.s largest national oil companies, has again chosen to contract with EMGS for a large multi-year acquisition project. This demonstrates that PEMEX values 3D CSEM data as an important and complementary input in their exploration workflow. We are confident that the 3D CSEM data EMGS will now acquire will help PEMEX identify, evaluate and de-risk prospects, thereby significantly contributing to their exploration efforts.

Chairman of the board of directors of EMGS, Eystein Eriksrud, comments:

.This contract represents an important vote of confidence from one of the Company.s largest repeat customers. This shows, in my opinion, not only that PEMEX believes in the Company.s technology and product, but also that they believe in the Company.s highly competent and dedicated employees and their ability to deliver the world.s premier CSEM product.

With this landmark contract, the fourth biggest in EMGS. history, together with the proprietary acquisition contract in south-east Asia, the Company has established a firm platform from which it is well positioned for further development and growth…

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=20190604.GlobeNewswire.GNW1000196183-en

[Kronn]

Emgs kan fort bli blandt årets vinneraksjer, ordrereserver på oppmålt 1 milliard, å kontraktene har kommet tett.
En aksje det kan være verdt å følge

[strongbuy]

Hvordan er det med gjelda i selskapet? Forfall og hvor mye?

[Buffet]

Egenkapitalen var negativ i q1. Ca. -45 millioner NOK. Det er vel egentlig ikke “lov”.
“Aksjeloven har krav om at selskapet til enhver tid skal ha egenkapital som er forsvarlig i forhold til risiko, arten og omfanget av virksomheten.”

[Kronn]

Ja emgs sliter jo med gjeld, men etter siste tids kontrakter samt garantier fra eigere av selskap, kan man vel øyne lys i tunellen.
Eg har aksjen som ett krydder i porteføljen, men eg liker jo stort sett high risk smal cap

[Buffet]

Liker også risk i smal cap. Men de har vært igjennom tøffe år og ratene er vel ikke allverdens enda. Kontrakter betyr økt omsetning ikke nødvendigvis overskudd. Med en så rød egenkapital så må noe gjøres. Om det bli emisjon eller konvertering av gjeld gjenstår og se.

[TekBot]

07/06-2019 16:35:50: (EMGS) EMGS: Employee elected board members

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In an election by the employees of Electromagnetic Geoservices ASA (“EMGS” or the “Company”), the following persons have been elected to serve as members of the board of directors of the Company, each for a period of two years:

Board members:

Marte Karlsen 

Jon Gunnar Solheim

Alternate board members:

Adam Robinson

Ellen Fossbak 

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=20190607.GlobeNewswire.GNW1000196718-en

[TekBot]

28/06-2019 08:33:49: (EMGS) EMGS: Proprietary acquisition for BP

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Electromagnetic Geoservices ASA (“EMGS” or the “Company”) is pleased to announce that it has been awarded a contract from BP for a proprietary CSEM survey, offshore Senegal and Mauritania.

The contract has a total value of approx. USD 6 million.

Acquisition is expected to start in the first quarter of 2020. 

CEO of EMGS, Bjørn Petter Lindhom comments:

.EMGS is delighted to return to Africa and for the opportunity to work for BP and partners on their high-profile acreage in Mauritania and Senegal. This contract extends our already healthy backlog and puts us in a good position to secure additional work in the prolific MSGBC Basin and in West Africa…   

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.

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

Kilde

[TekBot]

04/07-2019 09:05:42: (EMGS) EMGS: Vessel update and activity for the second 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 second quarter 2019 was 73% compared with 31% for the second quarter in 2018.

In the second quarter of 2019, the Company’s vessels were allocated 45% to proprietary work and 28% to multi-client projects. In the comparable quarter of 2018, the vessels were allocated 31% 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 second quarter 2018, the Company also had two vessels on charter.

Vessel activity
The Atlantic Guardian began the second quarter acquiring data on a fully pre-funded multi-client acquisition over PL 1031 in the Norwegian Barents Sea. This survey was completed on 5 May 2019. After that, the vessel was idle before she commenced another fully pre-funded multi-client survey in the Barents Sea late May and thereafter acquired data on a non-prefunded multi-client project. The Atlantic Guardian started the transit to Mexico in June. Prior to the departure from Europe, certain vessel maintenance was undertaken in dry-dock in in Brest, France.

The vessel.s utilisation for the second quarter was 63%.

The BOA Thalassa commenced a proprietary survey in South-East Asia on 23 March 2019 and this survey is currently ongoing.

The vessel.s utilisation for the second quarter was 82%.

Multi-client revenues in the second quarter
The Company expects to record approximately USD 4 million in multi-client revenues for the second quarter 2019.

EMGS will publish its second quarter 2019 financial results on Thursday 25 July 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
H ege 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

Kilde

[TekBot]

EMGS - Invitation to presentation of second quarter 2019 results.

Electromagnetic Geoservices ASA (EMGS) will release its second quarter 2019
results on Thursday 25 July 2019.
CEO Bjørn Petter Lindhom and CFO Hege Veiseth will present the results from
…

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10:00 CET.

The presentation will be broadcasted live over the Internet, and the webcast can
be accessed on www.emgs.com (http://www.emgs.com/).
It will be possible to post questions through the webcast.

The quarterly report and the presentation will be available for download on
EMGS’ website www.emgs.com (http://www.emgs.com/) and the Oslo Stock Exchange,
www.newsweb.no
(https://newsweb.oslobors.no/search?category=&issuer=8264&fromDate=&toDate=&mark
et=&messageTitle=) from about 7:30am on Thursday 25 July 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.

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.

Kilde

[TekBot]

EMGS reports second quarter 2019 results

Electromagnetic Geoservices ASA’s (“EMGS” or the “Company”) financial report and
market presentation for the second quarter of 2019 are attached.

…

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Highlights:

• The Company recorded revenues of USD 14.5 million, up from USD 7.9 million in
  the second quarter 2018 and up from USD 10.8 million in the first quarter 2019.

• Adjusted EBITDA (including capitalised multi-client expenses and vessel and
  office lease expenses) of USD 2.1 million, up from negative USD 3.0 million in
  the second quarter 2018.

• The Company increased its quarterly cost base, consisting of all operational
  costs including multi-client investments and vessel and office lease expenses,
  from USD 10.9 million in the second quarter last year to USD 12.4 million this
  quarter.

• Free cash decreased with USD 3.9 million during the quarter, to USD 5.8
  million.

• During the quarter, the Atlantic Guardian acquired data on three multi-client
  projects in Norway of which two were fully prefunded and started the transit to
  Mexico. The BOA Thalassa worked on the USD 24 million proprietary acquisition
  contract for Petronas in South-East Asia in the second quarter.

• Backlog at the end of the quarter of approx. USD 97 million.

CEO of EMGS, Bjørn Petter Lindhom, comments:

"The arrival of Atlantic Guardian in Mexico and the start of acquisition for
Pemex is an important milestone for EMGS. We now have both our vessels working
on long term contracts securing a healthy cashflow for the Company.

The award from BP for a survey in Mauritania and Senegal, marks our return to
Africa, and shows that our efforts and focus on getting the majors to use our
technology in the Atlantic Margin is starting to pay off."

The results will be presented at 10:00 (local time Norway) today. The
presentation will be held by CEO Bjørn Petter Lindhom and CFO Hege A. Veiseth
and will be broadcasted live over the Internet. The webcast can be accessed on
www.emgs.com (http://www.emgs.com/investors/). It will be possible to post
questions through the webcast.

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

Kilde

[Kronn]

Emgs er vel inne i ett spennende kvartal nå, med bra ordrer

[TekBot]

EMGS: Proprietary acquisition for Nabirm Global LLC

Electromagnetic Geoservices ASA (“EMGS” or the “Company”) is pleased to announce
that it has been awarded a contract from Nabirm Global LLC (“Nabirm”) for a
proprietary 3D CSEM survey over Block 2113A, Petroleum Exploration License (PEL
…

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58. in the Walvis Basin offshore Namibia. The contract value is in excess of
    USD 1 million.

Under the contract, EMGS will also provide processing, inversion and
interpretation services to Nabirm post acquisition.

Subject to, amongst other things, vessel availability, acquisition is projected
to take place in Q1/Q2 2020, with a backstop date (automatic termination in the
event if no vessel availability) of May 2020.

CEO of EMGS, Bjørn Petter Lindhom comments:

“We are very pleased with the award of this vessel of opportunity contract from
Nabirm, which further strengthens our belief that we are well placed to deliver
significant value to customers operating offshore Africa, and that the
importance of the African market will increase going forward.We are working on
developing a 2020 multi-client campaign offshore Namibia, which will allow us to
deploy a vessel to the region.”

CEO of Nabirm, Olayinka Arowolo comments:

“We are pleased to be working with EMGS on this project; it is a significant
opportunity for all our stakeholders as this will be the first survey of its
kind in the region. We believe that EMGS’s proprietary technology will help us
de-risk our prospects significantly. Risk Based Solutions Namibia will assist
with obtaining the required Environmental Clearance Certificate prior to the
acquisition.”

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.

Kilde