Thalassa subsidiary secures lucrative contract with Sevmorgeo

WGP Energy Services, the subsidiary of AIM-listed Thalassa, has entered into a further agreement with Sevmorgeo S.A., a subsidiary of Joint Stock Company Sevmorgeo, a Russian geological sea survey company.

The agreement is to supply node handling equipment and associated services as part of seismic data acquisition surveys being conducted by Sevmorgeo in Ecuador.

The contract will increase the total revenue to Thalassa relating to these surveys to approximately $6.7m.

Thalassa reported that work had commenced and said that the surveys in Ecuador were scheduled to last until June 15th 2013.

Thalassa is a British Virgin Islands international business company which was incorporated and registered in the BVI on Deptember 26th 2007.

Thalassa's share price was up 5.33% to 158p at 09:13 on Friday.

MF