Business
Pulse Data Inc. announces closing of purchase of seismic data set for $11.1 million
Pulse Data Inc. announces closing of purchase of seismic data set for $11.1 million.
About this update from Pulse Seismic Inc.
[{"type":"text","content":"\n\n\n\nTSX: PSD\n\n\nCALGARY, July 31 /CNW/ - Douglas Cutts, President and CEO of Pulse Data\nInc. ("Pulse" or the "Company"), is pleased to announce the closing of the\npurchase of all of the seismic data owned jointly with Arcis Corporation, as\ninitially announced through press release on June 25, 2007. The purchase price\nof the transaction is $11.1 million in cash and was financed by the completed\nbought-deal financing announced by press release on July 27, 2007. The\neffective date of this transaction is July 31, 2007.\n\n\nThe seismic data being purchased is located primarily in the\nBuick-Beatton and Ladyfern areas of northeastern British Columbia and includes\n1,388 net square kilometres of 3D seismic data and 65 net kilometres of 2D\nseismic data.\n\n\nPulse also announces that it will release its financial results for the\nsix months ended June 30, 2007 after the close of trading on the Toronto Stock\nExchange on Monday, August 13, 2007.\n\n\nA conference call and webcast to review the quarterly results will take\nplace Tuesday, August 14, 2007 at 1:00 p.m. EDT (11:00 a.m. MDT). Mr. Cutts\nwill chair the call. A question-and-answer period will follow an update on the\nCompany's strategies and outlook.\n\n\nTo participate please dial (416) 644-3425 (Toronto) or 1-800-732-1073,\napproximately 10 minutes before the commencement of the call in order to avoid\ndelays. A live webcast of the conference call will be available at\nhttp://www.newswire.ca/en/webcast/viewEvent.cgi?eventID(equal sign)1962840. An archival\nrecording of the conference call will be available approximately one hour\nafter the completion of the call until August 21, 2007. To access the replay,\nplease dial 1-877-289-8525 or (416) 640-1917 (Toronto) and enter the pass code\n21242612 followed by the pound (No.) key.\n\n\nPulse is a Calgary-based company specializing in seismic data\nacquisition, licensing and marketing. With this purchase, Pulse's seismic\nlibrary will grow to more than 11,100 net square kilometres of 3D seismic data\nand approximately 257,000 net kilometres of 2D seismic data.\n\n\nPulse trades on the Toronto Stock Exchange under the symbol PSD.\n\n\nDisclaimer: Certain information contained herein may constitute\nforward-looking statements under applicable securities laws. Such statements\nare subject to known or ...