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Friday, 9 March 2018

EMGS - Board of directors approves audited financial statements for 2017


Published: 15:07 CET 09-03-2018 /GlobeNewswire /Source: EMGS / : EMGS /ISIN: NO0010358484

EMGS - Board of directors approves audited financial statements for 2017

The board of directors of Electromagnetic Geoservices ASA ("EMGS" or the "Company") has on 9 March 2018 approved the 2017 annual financial statements and full annual report.

The Company announced its unaudited fourth quarter and preliminary full year 2017 financial results on 8 February 2018. After this point in time, the Company has made a provision of USD 750,000 related to an indemnity obligation towards one of its suppliers.  

EMGS' full annual report for 2017 is enclosed to this stock exchange notification.

Hege Veiseth, EMGS Chief Financial Officer, +47 992 16 743

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 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.

EMGS operates on a worldwide basis with offices in Trondheim, Oslo, Houston, Villahermosa, Rio de Janeiro and Kuala Lumpur.

For more information, visit

EMGS Annual Report 2017

This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: EMGS, Stiklestadveien 1, Trondheim N-7041 , Norway
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