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Electromagnetic Geoservices ASA (ELRMF.PK)

ELRMF.PK on OTC Markets Group - US Other OTC and Grey Market

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Latest Key Developments (Source: Significant Developments)

Electromagnetic Geoservices Q1 vessel utilisation up at 92 pct
Wednesday, 5 Apr 2017 02:30am EDT 

ELECTROMAGNETIC GEOSERVICES ASA : VESSEL UTILISATION FOR Q1 2017 WAS 92% COMPARED WITH 55% FOR Q1 IN 2016. .IN Q1 OF 2017, VESSELS WERE ALLOCATED 92% TO MULTI-CLIENT PROJECTS AND NO TIME WAS SPENT ON CONTRACT WORK.  Full Article

EMGS buys back nominal amount of NOK 24 mln in EMGS02 bonds
Wednesday, 29 Mar 2017 02:30am EDT 

ELECTROMAGNETIC GEOSERVICES ASA : REG-RESULT OF THE BOND BUY-BACK OFFER TO BONDHOLDERS IN FRN ELECTROMAGNETIC GEOSERVICES ASA SENIOR UNSECURED CALLABLE BOND ISSUE 2013/2019 . CONFIRMS TO BUY BACK A NOMINAL AMOUNT OF NOK 24 MILLION IN EMGS02 AS PER THIS OFFER. . NOMINAL OUTSTANDING AMOUNT OF EMGS02 WILL BE NOK 246 MILLION. .EMGS HEREBY CONFIRMS TO BUY BACK A NOMINAL AMOUNT OF NOK 24 MILLION IN EMGS02.  Full Article

EMGS reports approximately $3.7 million in sales
Friday, 24 Mar 2017 10:32am EDT 

Electromagnetic Geoservices ASA : Has entered into agreements involving data licensing (prefunding and late sales) related to 3D EM data in Barents Sea, Norway .Agreements represent revenues of about $3.7 million.  Full Article

EMGS enters into a revolving credit agreement, plans a rights issue
Thursday, 23 Mar 2017 02:15am EDT 

Electromagnetic Geoservices ASA : Said on Wednesday entered into an agreement with DNB Bank ASA . Said the existing $10 million revolving credit and the $10 million Guarantee facility will be made fully available to the Company .Intends to carry out a preferential rights issue with gross proceeds equal to a minimum of the Norwegian crowns equivalent of $15 million..  Full Article

EMGS reports approximately $2 million in sales
Thursday, 16 Mar 2017 03:30am EDT 

Electromagnetic Geoservices ASA : EMGS reports approximately $2 million in sales .Entered into agreements involving data licensing as well as processing and interpretation services related to 3D EM data in Norway and Mexico.  Full Article

EMGS Q4 EBITDA loss narrows to $2.1 million
Thursday, 9 Feb 2017 01:30am EST 

Electromagnetic Geoservices ASA : Q4 total revenue $12.0 million versus $20.5 million year ago . Q4 EBITDA loss $2.1 million versus loss $8.0 million year ago . End-Q4 backlog $1 million versus $21 million year ago . Expects that the 24th licensing round will trigger some sales in first half of 2017 .Expects to keep one vessel in Asia throughout 2017, while the other vessel is expected to operate in Europe and the Americas..  Full Article

Electromagnetic Geoservices confirms contract award
Thursday, 17 Nov 2016 02:30am EST 

Electromagnetic Geoservices ASA : Confirms that firm contract has been entered into with oil company in Malaysia . Contract confirms provisional agreement announced in on Nov. 1 [nGNE8Xj7Zc] .BOA Thalassa will perform survey which is estimated to take about 2 months with expected completion date early Jan. 2017.  Full Article

Electromagnetic Geoservices EBITDA loss $6.2 million, wider than expected
Thursday, 3 Nov 2016 02:30am EDT 

Electromagnetic Geoservices ASA : Q3 revenue $4.5 million (Reuters poll $6.6 million) . Q3 EBITDA loss $6.2 million (Reuters poll loss $5.0 million) . Expects to operate two vessels in 2016 and into 2017 .Expects to keep one vessel in Asia throughout 2016, while the other vessel is expected to operate in Europe.  Full Article

EMGS reaches a provisional agreement worth about $8 mln
Tuesday, 1 Nov 2016 03:43am EDT 

Electromagnetic Geoservices ASA :A customer and co have reached a provisional agreement worth approximately $8 million.  Full Article

EMGS reports prefunding for multi-client acquisition in Norway
Monday, 29 Aug 2016 03:02am EDT 

Electromagnetic Geoservices ASA : Reports prefunding for multi-client acquisition in Norway . Has entered into data licensing agreement with repeat customer for 3D EM data to be acquired over Hoop area in Barents Sea . Pre-Funding amounts to $1 million .New acquisition is expected to take place in Q3 2016 and will become part of EMGS multi-client library.  Full Article

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