Thalassa subsidiary wins new deal

Thalassa, an AIM-listed seismic data company, got a boost on Friday after announcing that its subsidiary, WGP Energy Services, has signed a deal with SMG Ecuador, the Ecuador business of State Sevmorgeo Company, and the Russian geological sea survey company.

The contract has an initial value of $4.175m and involves the provision and operation of Thalassa's Portable Modular Source System as part of seismic data acquisition surveys being conducted by SMG Ecuador.

Thalassa's Chairman, Duncan Soukup, said: "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."

The share price rose 7.69% to 56p by 13:30 Friday.

NR