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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)

Seismic surveyor EMGS says multiclient revenues $9 mln in Q3
Wednesday, 4 Oct 2017 07:00am EDT 

Oct 4 (Reuters) - ELECTROMAGNETIC GEOSERVICES ASA :VESSEL UPDATE AND ACTIVITY FOR THE THIRD QUARTER 2017.‍VESSEL UTILISATION FOR Q3 2017 WAS 77% COMPARED WITH 52% FOR Q3 IN 2016​.FOR FIRST NINE MONTHS THIS YEAR, VESSEL UTILISATION WAS 85%, WHEREAS UTILISATION FOR SAME PERIOD LAST YEAR WAS 61%..COMPANY EXPECTS TO RECORD APPROXIMATELY USD 9 MILLION IN MULTI-CLIENT REVENUES FOR Q3 2017..  Full Article

EMGS ‍enters into data licensing agreements in the Barents Sea in Norway
Tuesday, 26 Sep 2017 07:16am EDT 

Sept 26 (Reuters) - ELECTROMAGNETIC GEOSERVICES ASA ::REG-EMGS REPORTS MULTI-CLIENT SALES IN THE BARENTS SEA.‍ENTERED INTO DATA LICENSING AGREEMENTS RELATED TO 3D CSEM MULTI-CLIENT DATA IN BARENTS SEA IN NORWAY​.‍AGREEMENTS REPRESENT COMBINED REVENUES OF APPROXIMATELY USD 1.5 MILLION​.  Full Article

EMGS reports multi-client sales in the Barents sea
Tuesday, 1 Aug 2017 04:06am EDT 

Aug 1 (Reuters) - ELECTROMAGNETIC GEOSERVICES ASA :REG-EMGS REPORTS MULTI-CLIENT SALES IN THE BARENTS SEA.HAS ENTERED INTO A PREFUNDING AND LATE SALES AGREEMENT RELATED TO 3D CSEM DATA SURVEYS IN BARENTS SEA IN NORWAY.AGREEMENT REPRESENTS REVENUES OF APPROXIMATELY USD 1.8 MILLION.DATA WILL BE ACQUIRED DURING Q3 OF 2017.  Full Article

EMGS Q2 EBITDA $4.5 mln, above expectations
Thursday, 27 Jul 2017 01:30am EDT 

July 27 (Reuters) - ELECTROMAGNETIC GEOSERVICES ASA ::Q2 REVENUE $10.6 MILLION (REUTERS POLL: $10.3 MILLION).Q2 EBITDA $4.5 MILLION VERSUS (REUTERS POLL: $3.2 MILLION).THE COMPANY EXPECTS THAT THE 24TH LICENSING ROUND WILL TRIGGER SOME ADDITIONAL SALES IN Q3 2017.BASED ON THE CURRENT OPERATIONAL FORECAST, EMGS EXPECTS TO OPERATE TWO VESSELS IN 2017.  Full Article

Electromagnetic Geoservices completes rights issue
Friday, 7 Jul 2017 04:24am EDT 

July 7 (Reuters) - ELECTROMAGNETIC GEOSERVICES ASA ::SAYS 58.6 MILLION SHARES ISSUED AT SUBSCRIPTION PRICE OF NOK 2.45/SHR.52.1 MILLION SHARES WERE SUBSCRIBED FOR IN THE RIGHTS ISSUE.THE ISSUE WILL RESULT IN GROSS PROCEEDS OF NOK 144 MILLION.  Full Article

Electromagnetic Geoservices: vessel utilisation for Q2 2017 up at 85%
Wednesday, 5 Jul 2017 02:00am EDT 

July 5 (Reuters) - ELECTROMAGNETIC GEOSERVICES ASA ::VESSEL UTILISATION FOR Q2 2017 WAS 85% COMPARED WITH 76% FOR Q2 IN 2016.RECORDED 3.0 VESSEL MONTHS IN QUARTER. IN Q2 2016, COMPANY HAD TWO VESSELS IN OPERATION AND RECORDED 6.0 VESSEL MONTHS.COMPANY EXPECTS TO RECORD APPROXIMATELY USD 10 MILLION IN MULTI-CLIENT REVENUES FOR Q2 2017.  Full Article

Electromagnetic Geoservices subscribe for 14,025,201 new shares in ongoing rights issue
Monday, 26 Jun 2017 04:57am EDT 

June 26 (Reuters) - ELECTROMAGNETIC GEOSERVICES ASA ::SIEM INVESTMENTS INC. USED THEIR ALLOCATED SUBSCRIPTION RIGHTS TO SUBSCRIBE FOR 14,025,201 NEW SHARES IN ONGOING RIGHTS ISSUE IN EMGS.PRIOR TO TRANSACTION, SIEM INVESTMENT INC. HELD 7,844,249 OF ISSUED SHARES IN EMGS.PRICE PER SHARE IS NOK 2.45.  Full Article

Electromagnetic Geoservices: Perestroika to subscribe for 12.5 mln new shares
Friday, 23 Jun 2017 09:47am EDT 

June 23 (Reuters) - ELECTROMAGNETIC GEOSERVICES ASA :ELECTROMAGNETIC GEOSERVICES ASA - PERESTROIKA AS, PRIMARY INSIDER OF EMGS, HAS USED ALLOCATED SUBSCRIPTION RIGHTS TO SUBSCRIBE FOR 12,504,736 NEW SHARES.  Full Article

EMGS announces terms of rights issue
Monday, 19 Jun 2017 09:14am EDT 

June 19 (Reuters) - ELECTROMAGNETIC GEOSERVICES ASA ::EMGS - ANNOUNCEMENT OF TERMS OF RIGHTS ISSUE.‍RIGHTS ISSUE WILL COMPRISE AN OFFERING OF 58,634,735 NEW SHARES AT A SUBSCRIPTION PRICE OF NOK 2.45​.BOARD OF DIRECTORS OF EMGS HAS APPROVED FINAL TERMS OF RIGHTS ISSUE.GROSS PROCEEDS TO BE RAISED IN RIGHTS ISSUE WILL BE NOK 143,655,100.SUBSCRIPTION PRICE REPRESENTS A DISCOUNT TO THEORETICAL EX-RIGHTS PRICE (TERP) OF APPROXIMATELY 20% BASED ON CO'S AVERAGE CLOSING SHARE PRICE OF NOK 4.16 FOR WEEK 24​.  Full Article

EMGS reports prefunding for multi-client acquisition in Norway
Friday, 9 Jun 2017 04:52am EDT 

June 9 (Reuters) - ELECTROMAGNETIC GEOSERVICES ASA ::REG-EMGS REPORTS PREFUNDING FOR MULTI-CLIENT ACQUISITION IN NORWAY.COMPANY HAS ENTERED INTO PREFUNDING AGREEMENTS RELATED TO 3D CSEM DATA SURVEYS IN BARENTS SEA AND NORWEGIAN SEA IN NORWAY.AGREEMENTS REPRESENT REVENUES OF APPROXIMATELY USD 3 MILLION.DATA WILL BE ACQUIRED DURING 2017 SUMMER SEASON.  Full Article