News
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EMGS receives Letter of Intent for multi-client pre-funding in Namibia
Electromagnetic Geoservices ASA (“EMGS” or the “Company”) is pleased to announce that the Company has received a letter of intent with a minimum value of USD 3.6 million from an undisclosed customer on behalf of a JV block consortium, offshore Namibia. Under the terms of the pending data licensing agreement, a final survey option type and license fee is expected to be determined by the customer within end of Q1 2020.
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Update from EMGS
Electromagnetic Geoservices ASA ("EMGS" or the "Company") has been advised by the customer that the Company will not, in the near to medium future, receive additional acquisition work under the two-year acquisition contract announced to the market on 4 June 2019.
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New chairman of the board of directors
Electromagnetic Geoservices ASA ("EMGS" or the "Company") has been notified by Mr Johan Kr Mikkelsen of his resignation from the position as chairman of the board of directors of the Company. The resignation is effective immediately. Mr Mikkelsen resigns for personal reasons.
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EMGS reports fourth quarter 2019 results
Electromagnetic Geoservices ASA’s (“EMGS” or the “Company”) financial report and market presentation for the fourth quarter of 2019 are attached.
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EMGS – Invitation to presentation of fourth quarter 2019 results
Electromagnetic Geoservices ASA (EMGS) will release its fourth quarter 2019 results on Thursday 06 February 2020. CEO Bjørn Petter Lindhom and CFO Anders Eimstad will present the results from 10:00 CET.
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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 with PEMEX with a total value of approx. USD 73.3 million and a minimum value of approx. USD 29.3 million.