EMGS enters into prefunded multi-client contract in Indonesia


NEW YORK -- Reference is made to the stock exchange notification published by Electromagnetic Geoservices ASA (EMGS) on Nov. 16, 2017, wherein it was announced that EMGS had received Letters of Intent for two contracts under which EMGS will perform prefunded multi-client acquisitions offshore Indonesia.

EMGS is pleased to announce that a final contract has been entered into under one of the Letters of Intent. The contract has a minimum gross contract value of $1.8 million.

The survey will be executed using the vessel BOA Thalassa. EMGS expects to start the surveys in December 2017, with completion in January 2018.

EMGS is still working towards converting the second Letter of Intent into a final contract.  

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