Electromagnetic Geoservices ASA ("EMGS" or the "Company") has entered into a
late-sales multi-client licensing agreement related to its multi-client library
in Norway. The net revenue to EMGS under the agreement is approximately USD 1.7
million.
The majority of the revenue will be recognised in the second quarter of 2020.
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.
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