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Thalassa updates on multi client data sales

By BFN News | 07:38 AM | Monday 10 October, 2016

Thalassa said WGP Survey Ltd, a wholly owned subsidiary of WGP Group Ltd (WGP), has made further sales of the multi client data acquired with TGS-NOPEC Geophysical Company ASA in 2014. These sales will generate approximately USD$2 million in additional gross revenue prior to allocation amongst the multi client partners. Separately, Thalassa said, further to the announcement of 2 September 2016, all resolutions put to the shareholders of Papua Mining Plc at the general meeting held on 7 October 2016 were passed. Consequently, Thalassa's investment of £400,000 for 40,000,000 new ordinary shares of Papua has been approved. Papua has raised a total of £512,000 through the issue of 40,000,000 new ordinary shares to Thalassa and 11,200,000 new ordinary shares to existing shareholders. As a result, Thalassa's shareholding will represent 26.7% of the enlarged share capital of Papua. Story provided by

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