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* Second quarter revenues in line with performance update * Favourable court ruling in the Dutch patent court * Successful new product launches:
* Clearplay - the world's first fully integrated EM system * Bridge - new integration tool for EM, seismic and well log data
* Pre-funding of extensive multi-client EM scanning survey in the Barents Sea
* Survey program of 5,600 km2, or 18 blocks, due to significant interest
* Contract awarded by StatoilHydro in the Barents Sea
Subsequent important events:
* A fully underwritten share capital increase of NOK 250 million to be placed in third quarter * Shallow water breakthrough with USD 5 million Malaysian contract * Barents Sea multi-client EM update
* Heavily prefunded 9,200 km2, or 30 blocks, ready for sale.
The full second quarter report and presentation can be downloaded by clicking on the links below.
About EMGS EMGS is the market leader in electromagnetic (EM) imaging. The company launched the EM imaging industry in 2002 with the commercialisation of seabed logging, a proven exploration method that uses EM energy to help oil companies in their search for hydrocarbons. EMGS provides a full suite of services, including data planning, acquisition, imaging and interpretation. The company's integration systems enable seamless integration of EM data with seismic and other geophysical and geological information, giving explorationists a clearer and more complete understanding of the subsurface. This proprietary and patented technology has been developed over the past 10 years bringing dramatic improvement to exploration decision-making in frontier and mature provinces.
EMGS employs approximately 300 people from three main offices in Trondheim, Norway; Houston, USA; and Kuala Lumpur, Malaysia. The Company operates the world's largest EM vessel fleet and has conducted more than 350 surveys for many of the world's leading energy companies.
Please visit www.emgs.com for the latest news and in-depth information about EMGS and EM imaging technology.
For general enquiries please email findinghydrocarbons@emgs.com
