Press Releases

KMS Technologies completes participation by employees

03.03.2009: KMS Technologies have completed an employee participation in the company. This enables the company to build on its existing growth and become a major player on reservoir monitoring technology applications for the oil industry. This transaction is a strong endorsement for further development of the company’s unique ability to nurture and exploit intellectual capital and technology and to have more control in the company’s future. It also provides great motivation to the participating employees for the exciting times to come.

KMS Technologies’ employees now hold 20% of the company’s stock, issued as preferred stock with no voting rights. EMGS and RXT will continue as major shareholders with 80% of the company’s stock with the original shareholder arrangement being unchanged. In Europe, KMS will focus on the company’s interaction with KMS’ parents in Norway as well as on shareholder generation value and business development of reservoir monitoring technology. About KMS Technologies: KMS Technologies (An EMGS/RXT company and a division of KJT Enterprises Inc. of Houston, Texas) focuses on advanced electromagnetic methods for the oil industry for improved hydrocarbon discovery and recovery rates. KMS staff includes world recognized experts in the geosciences who have authored numerous publications/inventions and technologies and received several major awards for their technical work. Over the past ten years, KMS has taken EM technologies in borehole, marine and permanent installations from patents to prototype field tests to services. KMS maintains offices in Cologne, Germany and Houston, Texas.

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