Trading Update

RNS Number : 7828N

Thalassa Holdings Limited

12 September 2013

 



Thalassa Holdings Ltd

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

("Thalassa" or the "Company")

TRADING UPDATE

The Board of Thalassa is pleased to announce that, since the announcement of the Company's Interim Results on 30 July 2013, the Company has made significant progress in fulfilling its obligations under customer contracts.

As a result, the Directors are now confident, provided trading in the remainder of the year remains in line with their expectations, that the Company's performance for the year ending 31 December 2013 will significantly exceed market expectations.

In addition, the Directors are becoming increasingly optimistic in the Company's ability to convert a record level of enquiries into increased revenue in 2014 and beyond.

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 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.

 

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