Pulse Seismic Inc. press release
Pulse Seismic acquires seismic data
TSX - Toronto Stock Exchange ยท Canada
TSX: PSD
CALGARY, Aug. 29 /CNW/ - Mr. Ken MacDonald, President and Chief Executive Officer of Pulse Data Inc. ("Pulse" or "the Company") is pleased to announce that Pulse Seismic has purchased a seismic dataset that is located in the Deep Basin of west central Alberta. The effective date of the transaction is August 29, 2006. The acquired data base consists of approximately 3,445 net kilometres of 2D data and approximately 224 net square kilometres of 3D data. This valuable addition to Pulse Seismic'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 seismic data library. 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 243,000 net kilometres of 2D seismic data and more than 9,900 net square kilometres of 3D seismic data. Revenue is generated through licensing of the data library and through the licensing of participation surveys.
Pulse is a Calgary-based company with two operating units: Pulse Seismic specializing in acquiring, marketing and licensing seismic data to the western Canadian energy sector, and Terrapoint focusing on acquisitions and processing of digital elevation and image data to diverse markets. Through these two operating units, Pulse Seismic and Terrapoint, the Company has evolved into an industry leader providing Better Information Faster(TM).
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 2005 and 2006 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 estimates change, unless required by law.