TGE TGC Industries Announces the Purchase of an Additional ARAM ARIES Recording System
PR Newswire - November 21, 2005 7:00 AM (EDT)
PLANO, Texas, Nov 21, 2005 /PRNewswire-FirstCall via COMTEX/ -- TGC Industries, Inc. (Amex: TGE) today announced that the Company has entered into an agreement to purchase its fourth ARAM ARIES seismic recording system and has obtained verbal approval for the financing of this purchase.
Wayne Whitener, President and CEO of TGC Industries, stated, "We continue to see increased demand for land 3-D seismic surveys, and the purchase of another new ARAM ARIES system will enable us to increase our productivity and expand our bidding opportunities for new contracts. We currently operate five seismic field acquisition crews and will replace one of our Opseis Eagle systems with this new ARAM ARIES system. The Opseis Eagle system will be taken out of service for the present time but will remain available for future service."
The Company plans to take delivery of this state-of-the-art ARAM ARIES recording system prior to December 31, 2005. This type of system, which is Microsoft Windows driven, provides high speed data recovery and monitoring capabilities and automated geophysical data characterization.
TGC Industries, Inc., based in Plano, Texas, is one of the leading providers of seismic data acquisition services throughout the continental United States.
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward looking statements are based on our current expectations and projections about future events. All statements other than statements of historical fact included in this press release regarding the Company are forward looking statements. There can be no assurance that those expectations and projections will prove to be correct.
CONTACTS: Wayne Whitener
Chief Executive Officer
TGC Industries
(972) 881-1099
Jack Lascar, Partner
Karen Roan, SVP
DRG&E (713) 529-6600
SOURCE TGC Industries, Inc.
Wayne Whitener, Chief Executive Officer of TGC Industries, Inc., +1-972-881-1099; or
Jack Lascar, Partner, or Karen Roan, SVP, both of DRG&E, +1-713-529-6600, for TGC
Industries, Inc.
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