Electromagnetic Geoservices ASA ("EMGS" or the "Company") is currently engaged in the final stages of a contractual exchange for a proprietary data acquisition survey with an undisclosed customer.
The survey will take place in South America with an expected duration between one and two months.
The Company will be mobilising the Atlantic Guardian shortly, at the request of the customer. Under the terms of this request, the Company will, subject to certain conditions, be compensated for the mobilisation and demobilisation costs in the event no contract is awarded.
Subject to the contract being awarded, EMGS expects that the survey will commence in the fourth quarter of 2018.
Hege Veiseth, CFO, +47 99 21 67 43