KEYFACT Energy
Reference is made to the stock exchange notification published by Electromagnetic Geoservices ASA ("EMGS") on 19 October 2018, wherein the Company announced that it was in the final stages of a contractual exchange for a proprietary data acquisition survey with an undisclosed customer.
The Company has now received a letter of award for the contract. The total contract value is up to approximately USD 8 million.
The Company has now commenced mobilising the vessel Atlantic Guardian to South America. Subject to amongst other things final contract award, EMGS expects that the survey will commence in the fourth quarter of 2018.