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Pulse Seismic Inc. Signs $17.0 Million Seismic Data Licensing Agreement

CALGARY, Alberta, May 28, 2021 (GLOBE NEWSWIRE) Pulse Seismic Inc. (TSX:PSD) (OTCQX:PLSDF) (“Pulse” or the “Company”) is pleased to announce it has signed a $17.0 million seismic data licensing contract. On signing, the Company will immediately deliver a portion of the data and will recognize revenue of $7.3 million. The remainder of the data must be selected by the customer before April 15, 2022, at which time the balance of the $9.7 million licensing fees will be recognized as revenue. The licence is for 3D seismic data located in a liquids rich fairway in the west shale basin with multi-zone potential in Central Alberta. “I am extremely pleased to announce the signing of this significant agreement and the recognition of the first tranche of $7.3 million that brings Pulse’s year-to-date seismic data library sales to $17.2 million. The agreement also ensures an additional $9.7 million of revenue will be earned as the data is delivered at the ....

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