The Board of Directors of Electromagnetic Geoservices ASA (EMGS) has on 19 March 2015 approved the 2014 annual financial statements prepared in accordance with International Financial Reporting Standards ("IFRS").
The Company reported its unaudited fourth quarter and preliminary full year 2014 results on 5 February 2015. After this, the Company has made a precautionary provision of USD 2.0 million related to the patent case against PGS under other operating expenses in the 2014 accounts.
Please find EMGS' full annual report for 2014 enclosed.
Contacts
Charlotte Knudsen, EMGS head of investor relations, +47 97 56 19 59
About EMGS
EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The company's services enable the integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface. This improves exploration efficiency and reduces risks and the finding costs per barrel.
EMGS operates on a worldwide basis with main offices in Trondheim and Oslo, Norway; Houston, USA; and Kuala Lumpur, Malaysia.
For more information, visit www.emgs.com
