Electromagnetic Geoservices ASA (“EMGS” or the “Company”) is pleased to announce that the Company has received a letter of intent with a minimum value of USD 3.6 million from an undisclosed customer on behalf of a JV block consortium, offshore Namibia. Under the terms of the pending data licensing agreement, a final survey option type and license fee is expected to be determined by the customer within end of Q1 2020.