Business
Further re Capital Investment
Further re Capital Investment.
About this update from Thalassa Holdings Ltd
[{"type":"text","content":"\n \nRNS Number : 4277F Thalassa Holdings Limited 15 June 2012 \n \n\n15 June 2012\nThalassa Holdings Ltd\n \n(Reuters: THAL.L, Bloomberg: THAL:LN)\n \n(\"Thalassa\" or the \"Group\")\n \nIncreased business drives increased capital investment\n \nThalassa, the AIM quoted marine seismic operations business, is pleased to announce the enhancement of its operational capability through the agreement to acquire a further two compressor units,each consisting of an LMF compressor and a Caterpillar diesel engine. These compressor units are similar to those currently in operation with the Group's two existing portable modular source systems (PMSS™), offer a high level of operational flexibility and may be used either with a PMSS™ or as a source system for other seismic data acquisition surveys. \n \nIndustry recognition of the abilities of the PMSSTM, coupled with the acquisition of WGP in November 2011, has resulted in a strong growth in enquiries from potential clients. In the year to date, Thalassa has secured $15 million of contracted revenues, however further growth is currently constrained by the Group's current base of capital equipment. The investment into the two new compressor units will expand the Group's ability to meet the increased level of interest in its services. The new compressor units are currently deployed for use on the Spring Energy contract, announced on 11 June 2012. \n \nThe compressor units, which usually cost around $2 million each when new, are being purchased out of internally generated cash, for an aggregate purchase price which is less than half of the cost of a single new unit.\n \nDuncan Soukup, Chairman, said: \"Part of our job is to ensure that we invest in the right equipment at the right price and at the right time so that we are ready and available when the client comes knocking. With the level of enquiries for our equipment and services being higher today than at any time in the past, we are confident that this investment will produce solid returns in the future.\" \n \n \nContact:\n \n\n\n\n\nDuncan Soukup, Chairman\n\n\nTel: + 33 (0)6 78 63 26 89\n\n\n\n\nThalassa Holdings Ltd\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAntony Legge/James Felix\n\n\nTel: + 44 (0)20 7776 6550\n\n\n\n\nDaniel Stewart & Company ...