Electromagnetic Geoservices ASA ("EMGS" or the "Company") has been notified by
Ms Silje Augustson of her resignation from the position as chairman of the board
of directors (the "Board") of EMGS. The resignation is effective immediately,
and is due to personal reasons.
The Board would like to thank Ms Augustson for her leadership and contributions
to the Company during her tenure as chairman.
The Board will, working closely with the nomination committee, immediately start
a process of evaluating whether to call for an extraordinary general meeting of
the Company to elect a new chairman of the board, or whether a current member of
the Board should be elected as interim chairman until the next annual general
meeting of the Company.
Contact
Anders Eimstad, CFO, +47 948 25 836
This information is published in accordance with the Norwegian Securities
Trading Act ยง 5-12.
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. CSEM technology can also be used to detect the
presence of marine mineral deposits (primarily Seabed Massive Sulphides) and
EMGS believes that the technology can also be used to estimate the mineral
content of such deposits. The Company is undertaking early-stage initiatives to
position itself in this future market.