Pulse Seismic Signs a $10.3 Million 3D Seismic Data License

About this update from Pulse Seismic Inc.

[{"type":"text","content":"\n\n\nTSX Symbol - PSD\nOTCQX - PLSDF\n\n\nCALGARY, Sept. 30, 2014 /CNW/ - Pulse Seismic Inc. (\"Pulse\" or \"the\n Company\") announces it has signed a $10.3 million seismic data\n licensing agreement, resulting in total seismic data library sales of\n $14.5 million for the third quarter. This sale brings year-to-date\n seismic data library sales to approximately $27.4 million, compared to\n 2013 full-year seismic data library sales of $27.1 million.\n\n\nThe licensed data is located in the Kakwa area in the Deep Basin of west\n central Alberta.\n\n\n\"Although the seismic data library business continues to face a\n challenging environment, Pulse's low fixed cost business model, results\n in the generation of substantial shareholder free cash flow. The\n significant cash margin associated with a deal of this magnitude\n contributes greatly to improving our financial position,\" stated Neal\n Coleman, Pulse's President and CEO. \"By maintaining a strong balance\n sheet and prudently investing in the growth of Pulse's seismic data\n library, we continue to provide ongoing value to both our customers and\n our shareholders,\" he added.\n\n\nThe financial information contained in this news release is based on\n management's estimates and has not yet been approved by the Company's\n Audit Committee or Board of Directors or reviewed by the Company's\n auditors.\n\n\nOn November 7, 2014 the Company anticipates releasing full financial\n statements and related information for the three and nine months ended\n September 30, 2014.\n\n\nCORPORATE PROFILE\n\n\nPulse is a market leader in the acquisition, marketing and licensing of\n 2D and 3D seismic data to the western Canadian energy sector. Pulse\n owns the second-largest licensable seismic data library in Canada,\n currently consisting of approximately 28,300 net square kilometres of\n 3D seismic and 340,000 net kilometres of 2D seismic. The library\n extensively covers the Western Canada Sedimentary Basin where most of\n Canada's oil and natural gas exploration and development occurs.\n\n\nSOURCE Pulse Seismic Inc.\n\n\n\n Neal Coleman, President and CEO or Pamela Wicks, VP Finance and CFO Tel.: 403-237-5559 Toll-free: 1-877-460-5559 E-mail: [email protected]. Please visit our website at www.pulseseismic.com. Copyright CNW Group 2014","length":3265,"tagName":"div"}]

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