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Electromagnetic Geoservices ASA (EMGS.OL)

EMGS.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

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

Electromagnetic Geoservices Q2 EBITDA $2.8 million, above expectations
Thursday, 18 Aug 2016 01:50am EDT 

Electromagnetic Geoservices ASA : Q2 revenue $15.1 million (Reuters poll $15.5 million) . Q2 EBITDA $2.8 million (Reuters poll $1.37 million) . End-Q2 order backlog $5 million versus $15.8 million year ago . Says market outlook for oil services continues to be challenging and is characterised by high uncertainty . Expects that the awards for the 23rd licensing round in Norway will trigger multi-client late sales in the second half of 2016 . Expects to operate two vessels in 2016 . Expects to keep one vessel in asia throughout 2016, while the other vessel is expected to operate in europe . Will continue to invest in its multi-client library in selected areas .Capital investments are mainly limited to the joint-industry-project (JIP).  Full Article

Electromagnetic Geoservices Q2 vessel utilisation up at 76%
Tuesday, 5 Jul 2016 02:30am EDT 

Electromagnetic Geoservices ASA : Vessel utilisation for Q2 2016 came in at 76 pct compared with 68 pct for Q2 in 2015 .In comparable quarter of 2015, vessels were allocated 5 pct to contract work and 63 pct to multi-client projects.  Full Article

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