Ukategorisert
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EMGS – Board of directors approves audited financial statements for
The board of directors of Electromagnetic Geoservices ASA ("EMGS" or the "Company") has on 9 March 2018 approved the 2017 annual financial statements and full annual report.
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Proposed Comprehensive Refinancing and Calling of Extraordinary General Meeting
As further described in Electromagnetic Geoservices ASA's ("EMGS" or the "Company") Q4 2017 report, published on 8 February 2018, the Company's financial situation is such that additional financing is required.
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EMGS reports fourth quarter 2017 results
Electromagnetic Geoservices ASA (“EMGS” or the “Company”) recorded revenues of USD 11.3 million in the fourth quarter 2017, down from USD 12.0 million in the fourth quarter 2016 and up from USD 10.0 million in the third quarter 2017.
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EMGS will present its results for the fourth quarter of 2017 on Thursday 8 February
Link to webcast
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Multi-client revenues related to the APA 2017 awards
On 16 January 2018, the Norwegian Ministry of Petroleum and Energy (the "MPE") announced the awards of new production licenses through the Awards in Pre-defined Areas (APA 2017) licensing round.
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EMGS – Vessel update and activity for the fourth quarter 2017
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.