Electromagnetic Geoservices ASA (the "Company" or "EMGS") releases information
on vessel activity and multi-client sales during the quarter approximately 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.
At the end of the third quarter 2025 the Company had one vessel on charter, the
Atlantic Guardian. The Atlantic Guardian completed the fully prefunded multi-
client surveys in the North Sea and will be redelivered to her owners at the
expiry of the current charter period on 20 October 2025.
The utilization for the third quarter was 24% compared with 40% for the third
quarter 2024.
EMGS had one vessel in operation and recorded 3.0 vessel months in the quarter.
In the third quarter 2024, the Company recorded 3.0 vessel months.
Multi-client revenues in the third quarter
The Company does not expect to record any multi-client revenue in the third
quarter of 2025. The Company expects to recognize the revenue from the fully
prefunded North Sea surveys in the fourth quarter upon final data delivery.
EMGS will publish its third quarter 2025 financial results on Thursday 06
November 2025 prior to 07:30 local time (Norway). A recorded presentation will
also be made available over the Internet. To access the presentation, please go
to the Company's homepage (www.emgs.com (http://www.emgs.com)) and follow the
link.
Contact
Anders Eimstad, Chief Financial Officer, +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 in
other offshore construction and exploration activity.