Melding i dag. Dette er gledelige nyheter og en smak på hva som kommer. Strategiske kontrakter (et ben innenfor), kan bli til gullkantede kontrakter. Det bookes arbeid i 2020, selv om kunden vet at EMGS bare har to skip tilgjengelig pt.


EMGS: Proprietary acquisition for Nabirm Global LLC

Electromagnetic Geoservices ASA ("EMGS" or the "Company") is pleased to announce
that it has been awarded a contract from Nabirm Global LLC ("Nabirm") for a
proprietary 3D CSEM survey over Block 2113A, Petroleum Exploration License (PEL
0058) in the Walvis Basin offshore Namibia. The contract value is in excess of
USD 1 million.

Under the contract, EMGS will also provide processing, inversion and
interpretation services to Nabirm post acquisition.

Subject to, amongst other things, vessel availability, acquisition is projected
to take place in Q1/Q2 2020, with a backstop date (automatic termination in the
event if no vessel availability) of May 2020.

CEO of EMGS, Bjørn Petter Lindhom comments:

"We are very pleased with the award of this vessel of opportunity contract from
Nabirm, which further strengthens our belief that we are well placed to deliver
significant value to customers operating offshore Africa, and that the
importance of the African market will increase going forward.We are working on
developing a 2020 multi-client campaign offshore Namibia, which will allow us to
deploy a vessel to the region."

CEO of Nabirm, Olayinka Arowolo comments:

"We are pleased to be working with EMGS on this project; it is a significant
opportunity for all our stakeholders as this will be the first survey of its
kind in the region. We believe that EMGS's proprietary technology will help us
de-risk our prospects significantly. Risk Based Solutions Namibia will assist
with obtaining the required Environmental Clearance Certificate prior to the
acquisition."

Contact
Hege Veiseth, CFO, +47 99 21 67 43