Thalassa Holdings Limited Statoil Contract Execution (2301D)
25 Abril 2013 - 7:20AM
UK Regulatory
TIDMTHAL
RNS Number : 2301D
Thalassa Holdings Limited
25 April 2013
25 April 2013
Thalassa Holdings Ltd
(Reuters: THAL.L, Bloomberg: THAL:LN)
("Thalassa" or the "Company")
Statoil Contract Execution
The Board of Thalassa is pleased to confirm that, further to the
Company's announcement on 27 February 2013, the final contract
between its WGP subsidiary and Statoil ASA has been executed.
The contract relates to the provision by WGP of long term
seismic acquisition services for permanent reservoir monitoring of
the Snorre and Grane oil fields in the Norwegian sector of the
North Sea for up to approximately US$65 million, and the supply of
a bespoke dual portable modular source system ("D-PMSS(TM)") for
approximately US$19.8 million,
The first survey remains scheduled to commence on 1 October 2013
over the Snorre field.
Contacts:
Thalassa Holdings Ltd:
Duncan Soukup, Executive Chairman +33 (0)6 78 63 26 89
WH Ireland Limited (Nominated adviser):
Chris Fielding, Head of Corporate Finance 020 7220 1650
www.thalassaholdingsltd.com
Notes to Editor:
Thalassa Holdings Ltd, incorporated and registered in the BVI
and quoted on AIM, is a holding company with a focus on marine
seismic operations. The corporate strategy for the Group is
"Exploration and Beyond". "Exploration" is focused on activity in
frontier and challenging locations, whilst "Beyond" focuses on
production activity by looking to secure opportunities in the
permanent reservoir monitoring market. Thus activity and focus will
be dominated by projects in remote and challenging frontier
locations, coupled with lower risk projects in mature producing
regions.
Alongside the technical expertise and consultancy in marine
seismic operations provided through its subsidiary, WGP, the Group
owns and operates two portable modular source systems (PMSS(TM)).
The PMSS(TM) generates a seismic source for use in seismic
acquisition in petroleum exploration and production. The equipment
is temporarily installed on the back of a platform supply vessel
for the purposes of acquiring data.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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