EMGS: Vessel Activity and multi-client sales update for the fourth quarter 2020
Electromagnetic Geoservices ASA (the “Company” or “EMGS”) releases information on vessel activity and multi-client sales during the quarter 4-5 working days after the close of each quarter.
At the end of the fourth quarter 2020 the Company had one vessel on charter, the Atlantic Guardian. The Atlantic Guardian was cold stacked in Norway for the entire quarter.
Multi-client revenues in the fourth quarter
The Company expects to record approximately USD 2.2 million in multi-client revenues for the fourth quarter 2020.
EMGS will publish its fourth quarter 2020 financial results on Thursday 4 February 2021 at 07:30 local time (Norway). A recorded presentation will be broadcasted over the Internet, available from 10:00 local time (Norway). To access the presentation, please go to the Company’s homepage (www.emgs.com ) and follow the link.
Anders Eimstad, Chief Financial Officer, +47 948 25 836
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 exploration experts a clearer and more complete understanding of the subsurface. This improves exploration efficiency and reduces risks and the finding costs per barrel.
For more information, visit www.emgs.com
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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