EMGS Secures Prefunding for a Multi-client Survey Offshore East Canada

Source: www.gulfoilandgas.com 7/25/2022, Location: North America

Electromagnetic Geoservices ASA ("EMGS" or the "Company") is pleased to announce that the Company has secured USD 2 million in prefunding for a multi-client survey offshore Newfoundland and Labrador. The acquisition is expected to take place in late third quarter 2022. The revenue is expected to be recognised in the fourth quarter 2022.

The contract is conditional upon securing the required permits in Canada prior to September 2022.


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