Electromagnetic Geoservices ASA (EMGS) provides the following update on the vessel schedule presented during its fourth quarter 2012 presentation on 7 February 2013:

BOA Thalassa Following transit from the Gulf of Mexico to Singapore and subsequent equipment upgrades and sea trials, the BOA Thalassa is currently in the final stages of mobilizing for a confirmed contract in Brunei worth approximately USD 35 million. Data acquisition will commence within the next few days and is expected to be completed by mid-August 2013.

EM Leader The vessel owner has completed the scheduled dry dock in Singapore according to plan, and the EM leader is currently in transit to Myanmar where it will undertake a contract worth approximately USD 7 million for new customer CNPC (China National Petroleum Corporation). The vessel will subsequently perform a 3D EM survey worth approximately USD 5 million for new customer JX Nippon Oil & Gas Exploration in Malaysia. This survey is expected to be completed in the first week of May 2013.

BOA Galatea The BOA Galatea will complete its ongoing multi-client program in Brazil by mid-March. Details of its next project will be announced as soon as the company has received formal commitment from the client.

Tags: EMGS