TGE +.22 to 3.60 on news that they bought a second 3d seismics unit. Obviously they wouldn't be buying it unless business was booming. Drilling is too expensive to be drilling in the dark. 3D is becoming the industry standard. TGE should continue to have solid growth as drilling for ngas and oil increases. Bobwins
Wednesday May 25, 7:00 am ET
PLANO, Texas, May 25 /PRNewswire-FirstCall/ -- TGC Industries, Inc. (Amex: TGE - News) announced today that the Company has committed to purchase a new ARAM ARIES seismic recording system. This is the second ARAM ARIES recording system that TGC Industries has purchased within the past 12 months. The company plans to take delivery of this new 4,000 channel state-of-the-art system in the next 30 days. This type of system, which is Microsoft® windows driven, provides high speed data recovery and monitoring capabilities and automated geophysical data characterization.
Wayne Whitener, President and CEO of TGC Industries, commented, "We are faced with an increasing demand for Land 3-D seismic surveys, and the purchase of this new ARAM ARIES system will enable us to meet the growing needs of our clients. With this equipment purchase, we will be in a position to equip two of our land-based acquisition crews with the ARAM ARIES systems."
TGC, based in Plano, Texas, is a geophysical service company which primarily provides 3-D seismic services to oil and gas companies. It also maintains a geophysical gravity data bank.
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