Highlights first quarter 2008
Important events in the first quarter 2008:
- The first quarter 2008 revenues USD 43.5 million - up 68 per cent over the first quarter 2007
- The first quarter 2008 EBITDA USD 6.8 million
- Successful showcase survey for StatoilHydro
- Completion of multiclient EM scanning survey offshore India
- Continued new client wins, including
- Contract with PEMEX well underway, and extended
- USD 10 million scanning contract in Ghana awarded by Hess Corporation
Subsequent important events:
- Favourable court ruling in Dutch patent dispute in April
- Industry support to commence a multiclient EM scanning survey in the Barents Sea secured
The full first quarter report and presentation can be downloaded by clicking on the links below.
Contacts
Terje Eidesmo, EMGS chief executive officer +47 73 56 88 10
Svein Knudsen, EMGS chief financial officer +47 73 56 88 10
About EMGS
EMGS is the market leader in deep 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 find offshore hydrocarbons without drilling wells. This proprietary and patented technology has been developed over the past 10 years, and its ability to indicate hydrocarbons directly is enabling EMGS' customers to dramatically improve their exploration performance in frontier and mature provinces.
EMGS employs over 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 300 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
