EMGS: New contract for Tullow Oil in the North Sea

              EMGS: New contract for Tullow Oil in the North Sea

Electromagnetic Geoservices ASA (EMGS) has received a signed contract from
Tullow Oil Norge AS worth USD 7.7 million for 3D EM data acquisition in the
northern part of the North Sea.

"We are delighted to work with Tullow again, and also, encouraged to see
contract coverage in the Norwegian waters continue to develop favorably.
Adding a multitude of contracts to our multi-client activities this year
should result in the most active year in Norway to date," says Roar Bekker,
CEO of EMGS.

The survey is expected to commence in August, using the vessel BOA Thalassa.

Contacts

Svein Knudsen, EMGS CFO, +47 911 41 149

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.

EMGS operates on a worldwide basis with main offices in Trondheim and Oslo,
Norway; Houston, USA; and Kuala Lumpur, Malaysia.

For more information, visit www.emgs.com


This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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Source: EMGS via Globenewswire
HUG#1803670
 
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