21st Apr 2015 11:29
LONDON (Alliance News) - Thalassa Holdings PLC Tuesday said its WGP Group Ltd subsidiary has been awarded a seismic services contract by Norway-based TGS-NOPEC Geophysical Company ASA, and it thinks it will report positive underlying profit this year.
Under the deal, Thalassa's WGP will acquire high-resolution 3D data sets in the South East Barents Sea for a project in the region, which it expects to mobilise this month and which will last for up to five months.
The contract is initially for three-months, Thalassa said. Financial terms were not disclosed.
"We are delighted to be working with TGS again, following last year's successful Multi-Client project, and are confident that this contract will make a meaningful contribution to Thalassa's top and bottom line growth and should, with our other contracted orders, result in positive underlying profit for the year 2015," said Thalassa Chairman Duncan Soukup.
Shares in Thalassa were up 4.9% to 43.00 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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