Actualités et vidéos - ELECTROMAGNETIC GEOSVCS

The board of directors of Electromagnetic Geoservices ASA ("EMGS" or the "Company") has today approved EMGS' 2023 annual financial statements and annual report. There are no material changes to the financial statements compared to the preliminary and unaudited full year results presented by the Company on 14 February 2024. EMGS' annual report for 2023 is enclosed to this stock exchange notification. The annual report will be published in European Single Electronic Format (ESEF) on or about...

Electromagnetic Geoservices ASA (the “Company” or “EMGS”) releases information on vessel activity and multi-client sales during the quarter approximately 4-5 working days after the close of each quarter. The Company defines vessel utilisation as the percentage of the vessel charter period spent on proprietary or multi-client data acquisition. Downtime (technical or maritime), mobilisation, steaming, and some standby activities are not included in the utilisation rate. At the end of the...

Reference is made to the stock exchange notification published by Electromagnetic Geoservices ASA ("EMGS" or the "Company") on 9 February 2024, wherein EMGS announced that the Company had received a Letter of Intent from Equinor for a fully prefunded multi-client survey in the North Sea. The Company is pleased to announce that the survey has now been awarded, with a contract value of approximately USD 2.0 million. The fully prefunded survey is expected to commence early March 2024. Contact...

Electromagnetic Geoservices ASA’s (“EMGS” or the “Company”) financial report and market presentation for the fourth quarter of 2023 are attached. Highlights: * The Company recorded revenues of USD 1.1 million, down from USD 15.2 million in the fourth quarter of 2022 and down from USD 1.6 million in the third quarter of 2023. * Adjusted EBITDA (including capitalised multi-client expenses and vessel and office lease expenses) of negative USD 1.7 million, down from USD 8.2 million in the...

Electromagnetic Geoservices ASA ("EMGS" or the "Company") is pleased to announce that the Company has received a Letter of Intent from Equinor for a fully prefunded multi-client survey in the North Sea. The survey is expected to have a contract value of approximately USD 2.0 million. Subject to a binding contract being entered into, the fully prefunded survey is expected to commence early March 2024. Contact Anders Eimstad, CFO, +47 948 25 836 This information is published in accordance with the...

Electromagnetic Geoservices ASA ("EMGS" or the "Company") is pleased to announce that the Company has been awarded a contract from Petrobras for a fully prefunded multi-client survey offshore Brazil. The survey is expected to start late March or early April 2024. The total contract value is approximately USD 11.7 million. CEO of EMGS, Bjørn Petter Lindhom, comments: “We are delighted to return to Brazil for EMGS’ first acquisition project offshore Brazil in almost 10 years. As 2023 marked a...

Electromagnetic Geoservices ASA (the “Company” or “EMGS”) releases information on vessel activity and multi-client sales during the quarter approximately 4-5 working days after the close of each quarter. The Company defines vessel utilisation as the percentage of the vessel charter period spent on proprietary or multi-client data acquisition. Downtime (technical or maritime), mobilisation, steaming, and some standby activities are not included in the utilisation rate. At the end of the...

Siem Investments S.à.r.l. has on 27 December 2023 acquired 12,000,000 shares in Electromagnetic Geoservices ASA (“EMGS” or the “Company”). Siem Investments S.à.r.l. is an entity closely associated with member of the board and primary insider (PDMR) of EMGS, Jørgen Westad. Siem Investments S.à.r.l. owns, after this acquisition, a total of 43,327,467 shares in EMGS constituting 33% of the share capital and voting rights in EMGS. Siem Investments S.à.r.l. has consequently passed the...

Reference is made to the disclosure of shareholding stock exchange notification published 15 December 2023, wherein it was announced that Perestroika AS had acquired 9,000,000 shares in Electromagnetic Geoservices ASA (“EMGS” or the “Company”). Perestroika AS is an entity closely associated with chairman of the board and primary insider (PDMR) of EMGS, Frederik Mohn. Further details regarding the transaction are set out in the attached form. Contact Anders Eimstad, CFO, +47 948 25 836...

Electromagnetic Geoservices ASA’s (“EMGS” or the “Company”) financial report and market presentation for the third quarter of 2023 are attached. Highlights: * The Company recorded revenues of USD 1.6 million, down from USD 6.6 million in the third quarter of 2022 and up from USD 0.2 million in the second quarter of 2023. * Adjusted EBITDA (including capitalised multi-client expenses and vessel and office lease expenses) of negative USD 0.7 million, down from USD 1.4 million in the...

Electromagnetic Geoservices ASA ("EMGS" or the "Company") is pleased to announce that the Company has entered into its first acquisition contract related to renewable energy infrastructure. Subject to the issuance by the undisclosed customer of certain notice to proceed orders, the contract has a value of up to approx. USD 2 million. The contract does not include any minimum scope of work. CEO of EMGS, Bjørn Petter Lindhom, comments: “We have long held the view that the EM technology has a...

Electromagnetic Geoservices ASA (the “Company” or “EMGS”) releases information on vessel activity and multi-client sales during the quarter approximately 4-5 working days after the close of each quarter. The Company defines vessel utilisation as the percentage of the vessel charter period spent on proprietary or multi-client data acquisition. Downtime (technical or maritime), mobilisation, steaming, and some standby activities are not included in the utilisation rate. At the end of the...

Electromagnetic Geoservices ASA ("EMGS" or the "Company") is pleased to announce that the Company has secured approximately USD 1.0 million in revenue related to its existing multi-client library in Norway. The revenue is expected to be recognised in the third quarter of 2023. Contact Anders Eimstad, CFO, +47 948 25 836 This information is published in accordance with the Norwegian Securities Trading Act § 5-12. About EMGS EMGS, the marine EM market leader, uses its proprietary electromagnetic...

Electromagnetic Geoservices ASA’s (“EMGS” or the “Company”) financial report and market presentation for the second quarter of 2023 are attached. Highlights: * The Company recorded revenues of USD 0.2 million, down from USD 6.9 million in the second quarter of 2022 and down from USD 5.0 million in the first quarter of 2023. * Adjusted EBITDA (including capitalised multi-client expenses and vessel and office lease expenses) of negative USD 1.8 million, down from USD 2.8 million in the...

Electromagnetic Geoservices ASA (the “Company” or “EMGS”) releases information on vessel activity and multi-client sales during the quarter approximately 4-5 working days after the close of each quarter. The Company defines vessel utilisation as the percentage of the vessel charter period spent on proprietary or multi-client data acquisition. Downtime (technical or maritime), mobilisation, steaming, and some standby activities are not included in the utilisation rate. At the end of the...

Reference is made to Electromagnetic Geoservices ASA’s (“EMGS” or the “Company”) outstanding convertible bond issue Elec ASA 18/25 FRN USD FLOOR STEP C CONV (“EMGS03”) issued under ISIN NO0010821010. Under the bond terms for EMGS03, dated 9 May 2018 and as amended through an amendment agreement dated 10 February 2022, the Interest Rate payable by the Company consists of the Reference Rate plus the Margin (both as defined in the bond terms). The Reference Rate refers, in principle,...

The annual general meeting (the "AGM") of Electromagnetic Geoservices ASA ("EMGS" or the "Company") was held today, 21 June 2023 at 12:00 CEST. All items were resolved in accordance with the board of directors' proposals and the Nomination Committee's recommendations. The board of directors of the Company now consist of the following persons: - Frederik Mohn (Chairman) - Mimi K. Berdal - Jørgen Westad - Beatriz Malo de Molina The minutes of meeting from the AGM are attached hereto. Contact...

Notice is hereby given of the annual general meeting of Electromagnetic Geoservices ASA ("EMGS" or the "Company"). The annual general meeting will be held at the Company's offices in Karenslyst Allé 4, 4(th) floor, 0278 Oslo, Norway on 21 June 2023 at 12:00 local time. The calling notice is attached to this stock exchange notification, and will, together with all appendixes and the Company's annual report for 2022 be published on the Company's webpage www.emgs.com. Contact Anders Eimstad, Chief...

Electromagnetic Geoservices ASA’s (“EMGS” or the “Company”) financial report and market presentation for the first quarter of 2023 are attached. Highlights: * The Company recorded revenues of USD 5.0 million, down from USD 6.2 million in the first quarter of 2022 and down from USD 15.2 million in the fourth quarter of 2022. * Adjusted EBITDA (including capitalised multi-client expenses and vessel and office lease expenses) of USD 2.4 million, down from USD 3.7 million in the first...

Reference is made to the stock exchange notice published by Electromagnetic Geoservices ASA ("EMGS" or the "Company") on 19 April 2023, where EMGS published its audited financial statements and annual report for 2022. As noted by the Company in that stock exchange notification, the European Single Electronic Format (ESEF) 2022 annual report would be published on or about 21 April 2023. The ESEF file is attached to this stock exchange notification and will also be available on www.emgs.com ....