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EMGS - Vessel activity and multi-client sales update for the fourth quarter 2021
Electromagnetic Geoservices ASA (the "Company" or "EMGS") releases information
on vessel activity and multi-client sales during the quarter 4-5 working days
after the close of each quarter. The Company defines vessel utilisation as the
percentage of the vessel charter period spent on proprietary or multi-client
data acquisition. Downtime (technical or maritime), mobilisation, steaming, and
some standby activities are not included in the utilisation rate.

At the end of the fourth quarter 2021 the Company had one vessel on charter, the
Atlantic Guardian. During the quarter, the Atlantic Guardian completed the fully
funded multi-client survey in the North Sea. Upon completion, the Atlantic
Guardian was placed in warm-stack until additional work is secured.

The utilization for the fourth quarter was 44% compared with 0% for the fourth
quarter 2020.

EMGS had one vessel in operation and recorded 3.0 vessel months in the quarter.
In the fourth quarter 2020, the Company recorded 3.0 vessel months.


Multi-client revenues in the fourth quarter
The Company expects to record approximately USD 4.3 million in multi-client
revenues for the fourth quarter of 2021.

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