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The latest announcement is out from ElectroMagnetic GeoServices ASA ( (DE:E2M) ).
EMGS has received a Letter of Award for a CSEM survey in India, potentially valued at USD 10 million, marking a significant contract pending final execution. This contract emphasizes EMGS’s ongoing expansion in the Asian market and could enhance its industry standing by showcasing its technology’s value to stakeholders.
More about ElectroMagnetic GeoServices ASA
Electromagnetic Geoservices ASA (EMGS) is a leader in the marine electromagnetic market, providing services to oil and gas companies to aid in the exploration of offshore hydrocarbons. The company utilizes proprietary EM technology to enhance exploration efficiency, reduce risks, and lower costs. EMGS is also exploring the use of CSEM technology to detect marine mineral deposits and is positioning itself for future opportunities in this market.
YTD Price Performance: 16.43%
Average Trading Volume: 550
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €24.12M
See more insights into E2M stock on TipRanks’ Stock Analysis page.