TSX Symbol - PSD
Cusip No. 7458Q 10 9
CALGARY, June 15 /CNW/ - Mr. Ken MacDonald, President and Chief Executive
Officer of Pulse Data Inc. ("Pulse" or "the Company") is pleased to announce
that Pulse has successfully completed the purchase of a significant seismic
database from Prime Surveys Ltd., effective May 2, 2005.
The acquired data base consists of approximately 2,500 net square
kilometres of 3D data and 500 net kilometres of 2D data, and is located in the
south-central area of Alberta. This valuable addition to Pulse's existing data
base will add high-quality seismic data in an area that has recently
experienced significant increases in exploration activity by oil and gas
companies. The new seismic data is complementary to the Company's existing
library and increases its 3D data library by 40%. The purchase price of $15.2
million was financed principally by term debt though Pulse's existing debt
provider.
Pulse is a Calgary-based international company specializing in data
ownership through acquisition, marketing and information management, with
current focus on the energy sector. Through its three operating segments,
Pulse Seismic, Terrapoint and Trango, the Company has evolved into an industry
leader in providing better information faster.
Pulse Seismic is at the forefront with regard to acquiring, marketing and
licensing seismic data in Western Canada. Pulse Seismic's library consists of
approximately 240,500 net kilometres of 2D seismic data and more than 9,200
net square kilometres of 3D seismic data. Revenue is generated through
licensing of the data library and through the licensing of participation
surveys.
Pulse trades on the Toronto Stock Exchange under the symbol PSD.
Certain information contained herein may constitute forward-looking
statements under applicable securities laws. Such statements are subject to
known or unknown risks and uncertainties that may cause actual results to
differ materially from those anticipated or implied in the forward-looking
statements.
Investors are encouraged to review the "Risk Factors" section of the
Management's Discussion and Analysis in the Company's Annual Report for 2004
and 2005 Interim Reports for a discussion of risks that could affect the
Company's operations and financial results. Forward-looking statements are
based upon management's assumptions, expectations and estimates at the time
that such statements are made. Pulse does not update forward-looking
statements should circumstances change or management's assumptions,
expectations or expectations change.