Electromagnetic Geoservices ASA (EMGS) has entered into a data-licensing agreement with Rocksource, in which Rocksource pre-committed to license newly acquired Clearplay Test EM data over a number of prospects in the Gulf of Mexico. This agreement will generate fourth quarter revenues in excess of USD 2.5 million. EMGS and Rocksource are evaluating additional prospects to extend the program, including additional new acquisition as well as late sales of existing data library.
This new program to de-risk prospects in the Gulf of Mexico is an extension of the pre-existing relationships between FOCUS Exploration, Rocksource and EMGS