Thalassa acquires Papua shares while subsidiary sells more data

Thalassa announced on Monday that WGP Survey, a wholly owned subsidiary of Thalassa’s own subsidiary WGP Group, has made further sales of the multi client data acquired with TGS-NOPEC Geophysical Company ASA in 2014.

The AIM-traded firm said these sales will generate approximately $2m in additional gross revenue, prior to allocation amongst the multi client partners.

“These data sales are extremely welcomed and we expect to be able to issue a trading update in the coming weeks, which will also reflect the completion of the current acquisition programmes in the North Sea,” said chairman Duncan Soukup.

In a separate announcement on Monday, Thalassa also announced that all resolutions put to the shareholders of Papua at the general meeting on Friday were passed.

As a result, Thalassa’s investment of £0.4m for 40 million new ordinary shares of Papua has been approved.