New Contract Award

RNS Number : 8264A

Thalassa Holdings Limited

25 February 2014

 



25 February 2014

Thalassa Holdings Ltd

(Reuters: THAL.L, Bloomberg: THAL:LN)

("Thalassa" or the "Company")

New Contract Award

The Board is pleased to announce that its subsidiary WGP Group Ltd has executed a contract with SAExploration, Inc. (a subsidiary of SAExploration Holdings, Inc. a company listed on NASDAQ) to provide shallow water source handling and deployment services for seismic acquisition projects in the North Prudhoe Bay, Alaska.

Mobilisation is anticipated to commence on 15 June 2014 and the survey will last approximately 90 days from 15 July 2014. The total contract value for services provided to SAExploration is approximately USD$4 million.

Thalassa's Chairman, Duncan Soukup commented:

"SAExploration, Inc. is an established operator on the North Slope, Alaska, a region which has a large and repeat client base of multinational oil companies. WGP will be assisting SAExploration in developing a shallow water source handling and deployment system intended to increase productivity during the short summer weather window."

"I am pleased that WGP has been selected to provide SAExploration with a unique seismic solution, which will meet the end customer's needs. Whilst it is early in the year, we expect further contract announcements to be made in the foreseeable future."

Contacts:

Thalassa Holdings Ltd:

Duncan Soukup, Executive Chairman                                   [phone]

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 subsidiaries in the Energy Services and Defence and Homeland Security Industries, with a focus on marine seismic operations.

 

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