April 2019

• Board of directors approves audited financial statements and annual report for 2018

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

• EMGS receives Letter of Award

  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 secures second guarantee facility

  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.

• Vessel update and activity for the first 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 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.

• EMGS signs second well calibration study

  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.

• EMGS participates in sole-sourced tender process

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