SAExploration Holdings, Inc. Announces $62.6 Million In New Contract Awards In South America
SAExploration Holdings, Inc. (NASDAQ:TRIO, OTCBB:TMRGW)(“SAE” or the “Company”) today announced that the Company has been awarded seismic data acquisition contracts totaling $62.6 million for new projects in South America during the last week.
Brian Beatty, President and CEO of SAE, commented, “These new contracts demonstrate the continued strength of the oil & gas exploration market in South America. These projects are expected to commence in the third quarter of 2013 and extend into the fourth quarter of 2013. SAE has a long-standing reputation for operating in these logistically complex and challenging areas. We have an industry leading quality, health, safety and environmental record and combined with our expertise in equipment transportation, lodging and community relations, we truly feel that our customers will receive an environmentally sustainable and culturally sensitive groundwork for years of oil and gas exploration.”
About SAExploration Holdings, Inc.
SAE is a holding company of various subsidiaries which cumulatively form a geographically diversified seismic data acquisition company. SAE provides a full range of 2D, 3D and 4D seismic data services to its clients, including surveying, program design, logistical support, data acquisition, processing, camp services, catering, environmental assessment and community relations. The Company services its multinational client base from offices in Canada, Alaska, Peru, Columbia, Bolivia, Papua New Guinea, New Zealand and Brazil. SAE’s website is www.saexploration.com.Forward Looking Statements This press release includes certain forward-looking statements, including statements regarding future financial performance, future growth and future acquisitions. These statements are based on SAE managements’ current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of SAE’s business. These risks, uncertainties and contingencies include: fluctuations in the levels of exploration and development activity in the oil and gas industry; business conditions; weather and natural disasters; changing interpretations of GAAP; outcomes of government reviews; inquiries and investigations and related litigation; continued compliance with government regulations; legislation or regulatory environments; requirements or changes adversely affecting the business in which SAE is engaged; fluctuations in customer demand; changes in scope or schedule of customer projects; termination of contracts at the convenience of clients; management of rapid growth; intensity of competition from other providers of seismic acquisition services; general economic conditions; geopolitical events and regulatory changes; and other factors set forth in SAE’s filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. SAE is not under any obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.
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