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Business News of Saturday, 17 September 2011

Source: Ghana Celebrities

EMGS awarded survey offshore Ghana

Electromagnetic Geoservices ASA (EMGS) is pleased to announce the award of a contract by a new customer partnership to acquire and process 3D electromagnetic (EM) data offshore Ghana. The contract value is about USD 5.5 million, and data acquisition will be performed by the 3D EM vessel BOA Galatea starting in early October.

Chief Executive Officer Roar Bekker commented: "We are excited by the prospect of returning to West Africa and applying our latest technology, including full-azimuth 3D EM data acquisition and 3D anisotropic inversion, in this highly prospective region."

Contact
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, 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 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 has conducted more than 500 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 pursuant to section 5-12 of the Norwegian Securities Trading Act.

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