EMGS – Board of directors approves audited financial statements and annual report for 2021
April 20 2022 - 5:45PM
EMGS – Board of directors approves audited financial statements and
annual report for 2021
The board of directors of Electromagnetic Geoservices ASA
("EMGS" or the "Company") has today approved EMGS' 2021 annual
financial statements and annual report. There are no material
changes to the financial statements compared to the preliminary and
unaudited full year results presented by the Company on 3 February
2022.
The 2021 audit opinion from the Company's auditor, EY, is
without qualifications. However, it includes an emphasis of matter
related to the Company and the consolidated EMGS group operating
with negative equity. For further details, please refer to the
annual report.
EMGS' annual report for 2021 is enclosed to this stock exchange
notification.
The annual report will be published in European Single
Electronic Format (ESEF) on or about Monday 26 April 2022.
Contact Anders Eimstad, Chief Financial Officer,
+47 948 25 836
This information is published in accordance with the Norwegian
Securities Trading Act § 5-12.
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 the 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. CSEM technology can also be used to detect the
presence of marine mineral deposits (primarily Seabed Massive
Sulphides) and EMGS believes that the technology can also be used
to estimate the mineral content of such deposits. The Company is
undertaking early-stage initiatives to position itself in this
future market.
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