News
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EMGS – Contract awarded in Brazil
Electromagnetic Geoservices ASA (EMGS) has received a contract worth USD 1.5 million for a research project in Brazil. The project will use 3D EM data to map shallow gas hydrates in the Pelotas Basin.
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EMGS reports third quarter 2014 results
Electromagnetic Geoservices ASA (EMGS) reported revenues of USD 41.7 million in the third quarter 2014, down from USD 42.5 million in the second quarter this year and up from USD 23.6 million in the corresponding quarter last year. Contract sales totaled USD 29.8 million, while multi-client sales were at USD 11.9 million this quarter. The Company had an EBITDA of USD 11.0 million and a net income of USD 7.0 million.
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EMGS – Letter of Intent for BOA Thalassa in Asia
Electromagnetic Geoservices ASA (EMGS) has received a letter of intent worth USD 7.0 million from an oil company for 3D EM data acquisition in Thailand and Myanmar.
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EMGS – Contract awarded in Malaysia
With reference to the stock exchange notice of 6 October 2014, with the announcement of a letter of intent in Malaysia, Electromagnetic Geoservices ASA (EMGS) hereby confirms that the Company has been awarded a contract.
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EMGS – Letter of Intent with International Oil Company in Malaysia for BOA Thalassa
Electromagnetic Geoservices ASA (EMGS) has received a letter of intent worth USD 6.8 million from an International Oil Company for 3D EM data acquisition in Malaysia.
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CSEM as a tool for better exploration decisions
After more than 30 years of exploration and more than 100 wells drilled in the Barents Sea, only one field is in production, and another under development.