https://newsweb.oslobors.no/message/473557

Reference is made to the stock exchange notification published by
Electromagnetic Geoservices ASA ("EMGS" or the "Company") on 23 March 2019,
announcing that the Company had received a multi-client letter of intent with an
approximate value of USD 2.5 million.

EMGS and the customer, Spirit Energy Norway AS on behalf of the PL1031 license
group, have today entered into a final contract under the letter of intent.

Following an extension of the scope of work, the final contract value is
approximately USD 3.4 million.

The vessel Atlantic Guardian has started mobilisation for the survey. It is
expected that acquisition will commence early April and be completed within the
second quarter of 2019.

Contact
Hege Veiseth, CFO, +47 992 16 743

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 offices in Trondheim, Oslo, Houston,
Mexico City, Rio de Janeiro and Kuala Lumpur.

For more information, visit www.emgs.com (http://www.emgs.com/)