EMGS awarded 3D EM survey in the Caribbean

Electromagnetic Geoservices ASA (EMGS) has been awarded a contract by a repeat customer to conduct a 3D EM survey in the Caribbean. It is expected that the survey will commence in January 2010 and that the contract will generate first-quarter 2010 revenues in excess of USD 5 million.

Roar Bekker, EMGS chief executive officer, commented:

"We are delighted with this contract award, which adds even more value to one of our already strong customer relationships. This major oil company has gained extensive experience with 3D EM, and, in the upcoming campaign, will be applying our technology to de-risk hydrocarbon prospects in an area dominated by carbonate structures. We believe that the experience gained from this EM programme will broaden our technology's application window and open new market opportunities across the world."

The survey will be performed using EMGS's purpose-built, high-capacity vessel the BOA Galatea.

Contact
Roar Bekker, EMGS chief executive officer, +47 73 56 88 10
Svein Knudsen, EMGS chief financial officer, +47 22 01 14 00

About EMGS
EMGS uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. The company is the EM market leader, and provides Clearplay, the world's first fully integrated EM system.

Three service offerings - Clearplay Find, Test and Evaluate - have been designed to assist operators in the exploration and production phase. Clearplay supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The services enable 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 the world's first purpose-built 3D EM vessel fleet and has conducted more than 450 surveys to improve drilling success rates across the world's mature and frontier offshore basins. The company operates on a worldwide basis with main offices in Trondheim and Stavanger, Norway; Houston, USA; and Kuala Lumpur, Malaysia. Please visit www.emgs.com for more information.