Conversion of shares - USD 5 million convertible bond loan (9% EMGS ASA Senior Unsecured Convertible Bond Issue 2009/2011)

Electromagnetic Geoservices ASA (EMGS) has received a request from bondholders to convert bonds amounting to USD 4,200,000 to 4,883,721 shares at USD 0.86 per share. The nominal value of this convertible bond will consequently be reduced to USD 800,000. The Company's share capital is presently NOK 38,456,065.25 divided into 153,824,261 shares, each with a par value of NOK 0.25. After the conversion, EMGS will have 158,707,982 shares and a share capital of NOK 39,676,995.50. EMGS will inform the marked as soon as the new share capital has been registered. Contacts Roar Bekker, EMGS chief executive officer, +47 22 01 14 00 Svein Knudsen, EMGS chief financial officer, +47 22 01 14 00 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 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 has conducted more than 500 surveys to improve drilling success rates across the world's mature and frontier offshore basins. The company operates on a worldwide basis with main offices in Trondheim and Stavanger, Norway; Houston, USA; and Kuala Lumpur, Malaysia. Please for more information. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: EMGS via Thomson Reuters ONE [HUG#1493496]