Second quarter results 2010

Important events in the second quarter 2010:
 
  * Total revenues at USD 14.7 million for the quarter
  * EBITDA gain of USD 1.2 million
  * EMGS awarded contract in Asia worth USD 7.5 million
  * Pre-funding from Statoil for Barents Sea multi-client campaign
  * EMGS awarded survey worth minimum USD 150 million
  * Successful completion of private placement resulting in gross proceeds of
    USD 30 million
 
Subsequent important events:
 
  * EMGS signed abovementioned USD 150 million contract with PEMEX
  * EMGS secured USD 20 million bond
  * EMGS won patent dispute launched by Schlumberger
 
The full second quarter report and presentation can be downloaded by clicking on
the links below.
 
Contacts
Roar Bekker, EMGS chief executive officer, +47 22 01 14 00
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.
 
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
 
[HUG#1440336]
 
Second quarter presentation 2010: 
http://hugin.info/137402/R/1440336/384730.pdf
 
Second quarter report 2010: 
http://hugin.info/137402/R/1440336/384729.pdf
 
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Source: EMGS via Thomson Reuters ONE