3-D Geophysical Inc. announces completion of acquisition of Canadian Land Seismic Co.ENGLEWOOD, Colo.--(BUSINESS WIRE)--Jan. 28, 1997--3-D Geophysical Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :TDGO) today announced that it has closed on the purchase of J.R.S. Exploration Company Ltd., a land seismic survey company headquartered in Calgary, Alberta, Canada. The purchase price is for (U.S.) $2.6 million in cash, shares of a wholly owned Canadian subsidiary of 3-D Geophysical Inc. exchangeable for approximately 279,000 shares of TDGO common stock, and the assumption of J.R.S. Exploration's debt. J.R.S. Exploration has been operating in Canada for 18 years using up to 4 seismic survey crews and 24-bit seismic recording systems with a total of 2,000 channels. Richard D. Davis Richard David Davis (1799 - June 17, 1871) was a U.S. Representative from New York. Born at Stillwater, New York, Davis was graduated from Yale College in 1818. He studied law. He was admitted to the bar in 1821 and commenced practice in Poughkeepsie. , president and chief executive officer of 3-D Geophysical, said, "We are delighted to have J.R.S. Exploration join the team at 3-D Geophysical. It is a quality company with experienced management, an outstanding safety record and strong ties to major oil companies operating in Canada. Having J.R.S. Exploration on board allows us to significantly penetrate the Canadian seismic market and helps to maximize utilization of our crews and equipment. In line with that strategy, we expect to have an additional 2,000 channels working in Canada starting next month." Headquartered in Englewood, 3-D Geophysical Inc. is a leading provider of land-based seismic data acquisition services in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada and Mexico. CONTACT: 3-D Geophysical Inc. Ronald L. Koons, CFO See Chief Financial Officer. 303/290-0214 Strauss Global Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most George Strauss George Russell Strauss, Baron Strauss PC (18 July 1901 - 5 June 1993) was a long-serving British Labour Party politician, who was a Member of Parliament (MP) for 47 years and was Father of the House of Commons from 1974 to 1979. Strauss was educated at Rugby School. Judith Driver 212/818-1112 |
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