Thalassa expects up to $10m in revenue in seismic service deals

Thalassa Holdings said it expects to generate between $7.5m (£4.9m) and $10m (£6.6m) from its group's two seismic services agreements.

The AIM-listed company announced on Monday a new deal to provide long term seismic acquisition services to ConocoPhillips Skandinavia thought its subsidiary WGP Group.

Under the deal, WGP will acquire seismic data sets on the Ekofisk field in the Norwegian sector of the North Sea in a contract that has an initial five-year term.

The company said that along with its deal with TGS-NOPEC Geophysical Company announced in April, the deals will also bring in between $10m and $12m in 2017.

It also noted that revenues earned from High Resolution 3D and from multi-client data sales are estimated to amount to an additional $9.3m for 2015, with total estimated revenues of $18.5m for the year.

Shares in Thalassa Holdings were up 1.1p (2.59%) to 43.6p at 1029 GMT.