Trading Update for WGP Group Ltd

RNS Number : 3292Z

Thalassa Holdings Limited

14 March 2017

 

Thalassa Holdings Ltd

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

("Thalassa", "the Company" or "the Group")

Trading Update for WGP Group Ltd ("WGP")

The Board of Thalassa is pleased to announce that advanced preparation of mobilisation for WGP's 2017 Spring North Sea projects is now well underway with operations anticipated to commence during April, as scheduled.

Further to last December's revenue outlook for 2017, the Board anticipates that WGP revenue from seismic operations will be between $15 and $16 million, up between 30% and 40% as compared to corresponding estimated revenue of $11.6 million for 2016. These estimates are provided assuming no cancellations or significant adverse weather conditions.

The Board confirms that the full year results to 31 December 2016 will be released during week commencing 10 April 2017.

Investor Enquiries:

Thalassa Holdings Ltd

   Duncan Soukup, Chairman                                                 [phone]

WH Ireland Limited (Nominated Adviser and Broker)

   Chris Fielding, Head of Corporate Finance                         [phone]

Press Enquiries:

Square1 Consulting (Public Relations)

David Bick                                                                               [phone]

www.thalassaholdingsltd.com

Note to Editors:

Thalassa Holdings Ltd, incorporated and registered in the BVI and quoted on AIM, is a holding company currently with positions in the Energy Services and Defence and Homeland Security Industries.

 

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