Electromagnetic Geoservices (EMGS)

[TekBot]

EMGS - Vessel update and activity for the third quarter 2019

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
…

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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 third quarter 2019 was 73% compared with 29% for the
third quarter in 2018.

In the third quarter of 2019, the Company’s vessels were allocated 73% to
proprietary work and no time was spent on multi-client projects. In the
comparable quarter of 2018, the vessels were allocated 29% 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 third quarter 2018, the Company also had two vessels on charter.

Vessel activity
The Atlantic Guardian commenced a proprietary survey for Pemex in Mexico on 25
July 2019. This survey is still ongoing. The vessel’s utilisation for the third
quarter was 66%.

The BOA Thalassa spent the entire third quarter of 2019 acquiring EM data for
Petronas in South-East Asia. The vessel’s utilisation for the third quarter was
79%.

Multi-client revenues in the third quarter
The Company expects to record approximately USD 6 million in multi-client
revenues for the third quarter 2019.

EMGS will publish its third quarter 2019 financial results on Thursday 7
November 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
(http://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 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: New multi-client contract

Electromagnetic Geoservices ASA (the “Company” or “EMGS”) is pleased to announce
that the Company has signed a USD 8 million multi-client contract with an
undisclosed customer.
…

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Under the contract, the customer will license certain data from the Company’s
existing EM multi-client library in Norway and settle future potential uplift
obligations towards the Company for certain multi-client data already licensed
by the customer. The contract furthermore includes a number of user licenses to
the Company’s proprietary EMU and SBLwiz software, and prepayment for consulting
services.

The Company expects that the full contract value will be recognized in the
fourth quarter of 2019.

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 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: Final verdict in ISS litigation

As described in Electromagnetic Geoservices ASA (the “Company” or “EMGS”) annual
reports, including the 2018 annual report, the Company has been involved in
litigation related to a Municipal Services Tax (ISS) claim in Brazil. EMGS has
…

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previously deposited the disputed amount into a judicial escrow account in
Brazil.

The Company is pleased to announce that a final verdict in the matter has now
been delivered by the Brazilian courts. The court has found in EMGS’ favour.
Consequently, the escrowed amount including accrued interest, has been released
to the Company.

The release will, following payment of legal fees and certain tax costs related
to the released amount, increase the Company’s free cash position by approx.
MUSD 3.7. At the same time, the non-current restricted cash position will be
reduced to zero.

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 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 - Invitation to presentation of third quarter 2019 results

Electromagnetic Geoservices ASA (EMGS) will release its third quarter 2019
results on Thursday 7 November 2019. CEO Bjørn Petter Lindhom and CFO Hege
Veiseth will present the results from 10:00 CET.
…

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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 7 November 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 third quarter 2019 results

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

…

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Highlights:

• The Company recorded revenues of USD 26.9 million, up from USD 6.0 million in
  the third quarter 2018 and up from USD 14.5 million in the second quarter 2019.

• Adjusted EBITDA (including capitalised multi-client expenses and vessel and
  office lease expenses) of USD 11.6 million, up from negative USD 5.9 million in
  the third 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 11.9 million in the third quarter last year to USD 15.3 million this
  quarter.

• The Company is currently experiencing a delay in the approval and payment of
  invoices under an on-going acquisition contract.

• Free cash decreased with USD 2.0 million during the quarter, to USD 3.8
  million.

• Backlog at the end of the quarter of approx. USD 78 million, whereof USD 37
  million is firm.

• During the quarter, the Atlantic Guardian commenced a proprietary survey for
  Pemex in Mexico. This survey is still ongoing. The BOA Thalassa worked on the
  USD 24 million proprietary acquisition contract for Petronas in Malaysia in the
  third quarter.

CEO of EMGS, Bjørn Petter Lindhom, comments:

“I am pleased to present EMGS’ strongest quarter in over four years. The quarter
was characterised by strong operational performance by both vessels. Despite
operating under challenging conditions, both vessels delivered outstanding
operational uptime, QHSSE results and first-class data quality.”

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]

Bra her da ?
Har holdt meg unna grunnet tilnærmet null volum i aksjen, tipper den går en del idag

[TekBot]

EMGS: Change of CFO

CFO of Electromagnetic Geoservices ASA (“EMGS” or the “Company”), Hege Veiseth,
has resigned her position with the Company to pursue new challenges as CFO of
Polaris Media ASA. Ms Veiseth joined EMGS in 2007 and has served as CFO since
…

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Anders Eimstad has been appointed interim CFO of EMGS. Mr Eimstad holds a Master
of Business Administration from Baylor University. He joined EMGS in 2006 and
has held a number of positions within the Company, most recently as VP Business
Control.

Mr Eimstad’s appointment will be effective as of 1 January 2020. Ms Veiseth will
continue to serve as an employee of the Company for a transitional period.

CEO of EMGS, Bjørn Petter Lindhom, comments:

“I would like to take this opportunity to thank Hege for her outstanding
dedication to EMGS over a number of years, and whish her the best of luck in her
new position.”

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

[TekBot]

Update from EMGS

Reference is made to Electromagnetic Geoservices ASA’s (“EMGS” or the “Company”)
financial report for the third quarter of 2019, wherein the Company described
delays in the approval and payment of invoices under an on-going acquisition
…

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contract in the Americas. Further details regarding the situation, and the
potential consequences thereof in the event the Company is not able to resolve
it, is set out in the 2019 third quarter financial report.

The delays in payment and approval of these invoices continues. However, the
Company is experiencing progress both with regards to payment of approved
invoices and approval of invoices ready for final submittal to the customer.

As of today and after 30 September 2019, the Company has received cash payments
of approximately MUSD 8.6 under the contract, including cash advances received
under a factoring facility related to the contract.

Based on current projections, and the information available to the Company
today, EMGS expects to have a free cash position at 31 December 2019 in excess
of MUSD 10. This projection assumes, amongst other things*, no further cash
payments from the end customer before 31 December 2019.

Additional details will be provided in due course.

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.

• please see the Disclaimer for forward-looking statements, included on page 15
  of the Company’s 2019 third quarter financial report for further details
  regarding the inherent uncertainty associated with all projections and forward
  looking statements.

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

Kilde

[TekBot]

EMGS: Vessel update and activity for the fourth quarter 2019

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
…

Vis børsmeldingen

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 fourth quarter 2019 was 80% compared with 32% for the
fourth quarter in 2018. For the full year 2019, the vessel utilisation was 59%,
whereas the utilisation for the full year 2018 was 33%.

In the fourth quarter of 2019, the Company’s vessels were allocated 80% to
proprietary work and no time was spent on multi-client projects. In the
comparable quarter of 2018, the vessels were allocated 32% to proprietary work
and no time was spent on multi-client projects.

EMGS had two vessels in operation and recorded 5.9 vessel months in the quarter.
In the fourth quarter 2018, the Company recorded 5.7 vessel months.

Vessel activity
The Atlantic Guardian spent the entire fourth quarter on a proprietary survey
for Pemex in Mexico. The vessel’s utilisation for the fourth quarter was 92%.

The Petrel Explorer (formerly Thalassa) completed acquisition of EM data for
Petronas in South-East Asia on 6 December 2019. On 12 December 2019 the vessel
started transit towards the Atlantic. The vessel’s utilisation for the fourth
quarter was 67%.

Multi-client revenues in the fourth quarter
The Company expects to record approximately USD 9 million in multi-client
revenues for the fourth quarter 2019.

EMGS will publish its fourth quarter 2019 financial results on Thursday 6
February 2020 at 07:30 CET. A presentation will be broadcasted live over the
Internet, starting at 10:00 CET. To access the presentation, please go to the
Company’s homepage (www.emgs.com (http://www.emgs.com)) and follow the link.

Contact
Anders Eimstad, EMGS Interim Chief Financial Officer, +47 948 25 836

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 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]

Update on multi-year acquisition contract

Reference is made to the stock exchange notification published by
Electromagnetic Geoservices ASA (“EMGS” or the “Company”) on 4 June 2019,
wherein the Company informed that it had signed a two-year acquisition contract
…

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with PEMEX with a total value of approx. USD 73.3 million and a minimum value of
approx. USD 29.3 million.

The Company is currently in the process of finishing all acquisition work
initially ordered by PEMEX. Additional acquisition operations will thus be
subject to issuance of new call-offs.

EMGS is pleased to announce that it has received a call-off for additional
acquisition work. The call-off consists of deep-water acquisition work and has a
total value of approx. USD 3.4 million, excluding associated processing.

Furthermore, the Company has also received a call-off covering modelling work in
preparation for other potential acquisition operations.

CEO of EMGS, Bjørn Petter Lindhom, comments:

“I am very proud of the outstanding operational efficiency and first-class
product EMGS is delivering to PEMEX under this contract. The additional
acquisition work now ordered by PEMEX is an important confirmation that we are
meeting PEMEX’s expectations.”

Based on modelling work already ordered and completed, on-going discussions with
PEMEX and the new modelling call-off received, the Company has reason to believe
that additional acquisition work is likely to be forthcoming.

Contact
Anders Eimstad, EMGS Interim Chief Financial Officer, +47 948 25 836

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.

Kilde

[Kronn]

Emgs med fine tall idag, eg er ikke inne men det er ett selskap som stadig har hanket inn kontrakter, det viser seg igjen i regnskaper nå etterhvert

[Sjakk]

Ja det var ikke småtterier. Q4 EPS på 0,14 USD, FY2019 0,11USD Ser forrige kvartal var fhvs bra også. Hairy mary sier nå jeg. Hva er galt siden den går bare 30% i dag?

Jeg ser 2 fallgruver,

1. konvertibelt lån 32,5MUSD => 76M aksjer, strike 0,42677 dollar. (In the money på kurs 3,9)
2. For liten backlogg? -20MUSD til 58MUSD i Q4 (tilsvarer litt mer enn 2 kvartals omsetning)

Noen andre som ser hvorfor denne ikke skal mangedoble seg?

[TekBot]

EMGS: Proposed changes to board of directors

Reference is made to the stock exchange notification published by
Electromagnetic Geoservices ASA (“EMGS” or the “Company”) on 27 March 2020,
wherein the Company announced that it had initiated a transition to a new low-
…

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cost set-up.

As part of this transition, the board of directors of EMGS has resolved to
propose a number of changes to the organisation of the board, with a view to
right sizing the board to reflect the new, smaller EMGS organisation as well as
to make certain changes to the composition of the board. Furthermore, the board
has resolved to discontinue employee elected representation at the board.

The board will therefore propose to the annual general meeting of the Company,
scheduled for 19 June 2020 (the “AGM”), to resolve to amend the articles of
association of the Company to reduce the minimum permitted number of board
members to three.

To facilitate this transition, Ms Alexandra A. Herger (shareholder elected), Ms
Marte V. Karlsen (employee elected) and Mr Jon Gunnar Solheim (employee elected)
have all notified the Company that they will resign their positions as board
members effective as of the AGM.

Subject to the proposed resolution by the AGM to allow for a board consisting of
three directors, the nomination committee of EMGS has informed the Company that
it will propose to the AGM that the following three persons are elected as the
new board of directors, each for a term of one year:

• Ms Mimi Berdal, chairman of the board of directors. Ms Berdal currently serves
  as a member of the board of directors of EMGS.

• Mr Petteri Soininen, board member. Mr Soininen currently serves as chairman of
  the board of directors of EMGS.

• Mr Øyvind G. Bjørndal, board member. Mr Bjørndal currently serves as Chief
  Legal Counsel of EMGS until September 2020.

Contact
Anders Eimstad, Chief Financial Officer, +47 948 25 836

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.

For more information, please visit www.emgs.com.

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

Kilde

[TekBot]

EMGS: Notice of Annual General Meeting

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(st) floor, 0278 Oslo,
…

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Norway on 19 June 2020 at 12:00 local time.

Due to the ongoing novel coronavirus pandemic (Covid-19), shareholders are
encouraged to not physically attend the meeting. Rather, shareholders should
consider exercising their shareholder rights through electronic advance voting
in VPS or by completing the proxy form with voting instruction.

The calling notice is attached to this stock exchange notification, and will,
together with all appendixes and the Company’s annual report for 2019 be
published on the Company’s webpage www.emgs.com.

For further information, please contact:
Anders Eimstad, Chief Financial Officer, +47 948 25 836

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.

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: Minutes from 2020 annual general meeting and changes to the board of directors

The annual general meeting (the “AGM”) of Electromagnetic Geoservices ASA
(“EMGS” or the “Company”) was held today, 19 June 2020 at 12:00 CEST.

…

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All items were resolved in accordance with the board of directors’ proposals and
the Nomination Committee’s recommendations.

Following the AGM, the board of directors of EMGS consists of the following
persons:

• Mimi K. Berdal (chairman)

• Petteri Soininen

• Øyvind Greaker Bjørndal

The minutes of meeting are attached hereto.

Contact
Anders Eimstad, Chief Financial Officer, +47 948 25 836

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.

Kilde

[TekBot]

EMGS: Vessel update and activity for the second quarter 2020

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
…

Vis børsmeldingen

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.

As further described below, at the end of the second quarter 2020 the Company
had one vessel on charter, the Atlantic Guardian. The Atlantic Guardian is
currently cold stacked in Norway. Going forward, the Company intends to continue
to publish a trading update shortly after the end of each quarter, inter alia to
communicate multi-client sales during the relevant quarter.

Vessel utilisation for the second quarter 2020 was 23% compared with 73% for the
second quarter of 2019.

In the second quarter of 2020, the Company’s vessels were allocated 0% to
proprietary work and 23% to multi-client projects. In the comparable quarter of
2019, the vessels were allocated 45% to proprietary work and 28% to multi-client
projects.

EMGS recorded 5.0 vessel months in the quarter. In the second quarter 2019, the
Company recorded 6.0 vessel months.

Vessel activity
During the quarter, the Atlantic Guardian transited to Norway and completed the
previously announced transit to Norway for cold stacking. The vessel’s
utilisation for the second quarter was zero.

The Petrel Explorer (formerly Thalassa) completed acquisition of two multi-
client surveys on the Norwegian continental shelf, whereof one was prefunded,
and one was not. Following completion of these two surveys, the vessel was
demobilised and returned to the vessel owner at expiry of the charter period.
The vessel’s utilisation for the second quarter was 56%.

Multi-client revenues in the second quarter
The Company expects to record approximately USD 5 million in multi-client
revenues for the second quarter 2020.

EMGS will publish its second quarter 2020 financial results on Thursday 23 July
2020 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 (http://www.emgs.com)) and
follow the link.

Contact
Anders Eimstad, Chief Financial Officer, +47 948 25 836

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.

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 - Invitation to presentation of second quarter 2020 results

Electromagnetic Geoservices ASA (EMGS) will release its second quarter 2020
results on Thursday 23 July 2020. CEO Bjørn Petter Lindhom and CFO Anders
Eimstad will present the results from 10:00 CET.
…

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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 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 23 July 2020.

Contact
Anders Eimstad, CFO, +47 94 825 836

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.

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

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EMGS reports second quarter 2020 results

Electromagnetic Geoservices ASA’s (“EMGS” or the “Company”) financial report and
market presentation for the second quarter of 2020 are attached.

…

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Highlights:

• The Company recorded revenues of USD 7.5 million, down from USD 14.5 million
  in the second quarter of 2019 and down from USD 11.3 million in the first
  quarter of 2020.

• Adjusted EBITDA (including capitalised multi-client expenses and vessel and
  office lease expenses) of negative USD 2.0 million, down from USD 2.1 million in
  the second quarter of 2019.

• Free cash decreased with USD 6.2 million during the quarter, to USD 9.8
  million.

• A renegotiated charter party agreement for the Atlantic Guardian has been
  agreed. Amongst other changes, as part of the renegotiated charter party
  agreement, the day rate applicable while the vessel is cold stacked (for a
  period not to exceed 12 months) is significantly reduced, leading to an
  aggregate reduction in the Company’s operational cost base for the period June
  through December 2020 of more than USD 1.5 million. The firm period of the
  charter party agreement is extended by 12 months, with a new expiry of the firm
  period in October 2022.

• During the quarter, the Petrel Explorer completed acquisition of two multi-
  client surveys on the Norwegian continental shelf. Following completion of these
  surveys, the vessel was demobilised and returned to the vessel owner. The
  Atlantic Guardian completed transit to Norway for cold stacking.

The results will be presented at 10:00 (local time Norway) today. The
presentation will be held by CEO Bjørn Petter Lindhom and CFO Anders Eimstad 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
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 to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

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Renteregulering

Det er fastsatt ny rente for NO0010821010.
Ny rentesats i perioden 10.08.2020 - 09.11.2020 er 5,74325.
Ticker:EMGS03
…

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Den nye rentesats (og rentebindindingsperiode) er fastsatt i henhold til avtale, jf. låneavtalens og tegningsinnbydelsens/lånebeskrivelsens bestemmelser.

Se vedlagt dokument for utfyllende informasjon.

(Publisert av Nordic Trustee, Morten Sannes Bredesen)

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EMGS: Vessel activity and multi-client sales update for the third quarter 2020

Electromagnetic Geoservices ASA (the “Company” or “EMGS”) releases information
on vessel activity and multi-client sales during the quarter 4-5 working days
after the close of each quarter.
…

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At the end of the third quarter 2020 the Company had one vessel on charter, the
Atlantic Guardian. The Atlantic Guardian was cold stacked in Norway for the
entire quarter.

Multi-client revenues in the third quarter
The Company expects to record approximately USD 0.1 million in multi-client
revenues for the third quarter 2020.

EMGS will publish its third quarter 2020 financial results on Thursday 5
November 2020 at 07:30 local time (Norway). A recorded presentation will be
broadcasted over the Internet, available from 10:00 local time (Norway). To
access the presentation, please go to the Company’s homepage (www.emgs.com
(http://www.emgs.com/)) and follow the link.

Contact
Anders Eimstad, Chief Financial Officer, +47 948 25 836

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.

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

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