EMGS Secures Prefunding for multi-client Acquisition in Norway

Electromagnetic Geoservices ASA (EMGS) announces that the Company has entered into a data licensing agreement with a repeat customer for 3D EM data to be acquired over the Hoop area in the Barents Sea. The pre-funding amounts to USD 1 million.

This new acquisition is expected to take place in Q3 2016 and will become part of the EMGS multi-client library.

Christiaan Vermeijden, CEO of EMGS, is pleased that see that such a 3D CSEM survey continues to add value to the exploration efforts for hydrocarbons in the Barents Sea and encourages other customers to take advantage of the vessel being active in the area.