Thalassa Provides PMSS for Seismic Survey Off Ecuador

Thalassa Holdings Ltd’s subsidiary, WGP Energy Services Ltd (“WESL”), has entered into a contract with SMG Ecuador, the Ecuador business of State Sevmorgeo Company, the Russian geological sea survey company, with an initial value of US$4.175 million.

The contract involves the provision and operation of Thalassa’s Portable Modular Source System (“PMSSTM”) as part of seismic data acquisition surveys being conducted in Ecuador by SMG Ecuador. The surveys are scheduled to commence on 14 February 2013 and last until 15 June 2013. Work on pre-mobilisation is already underway.

Thalassa’s Chairman, Duncan Soukup, commented: “We are again delighted to be working with the SMG Group, following the successful surveys in the Arctic in 2011 and 2012, on this occasion outside of Europe during a period when we had not budgeted any work.”

[mappress]
January 18, 2013