LONDON (ShareCast) - Marine survey group Thalassa Holdings reported sales delays due to a later-than-expected oil and gas exploration licensing round in the Norwegian Sea, but said it was keeping 2014 guidance unchanged.
British Virgin Islands-registered Thalassa, whose WGP Group subsidiary offers marine geophysical services, said the 23rd Norwegian licence round had not yet concluded and was now expected to end in 2015.

Thalassa said it now expected potential data sales from several clients relating to that round, which could generate significant revenue for the company, to take place in 2015.

But it said it was not changing its guidance on Thalassa's performance in the year to 31 December 2014.

However, the company added: "The outlook for 2015 remains uncertain, due to both economic sanctions and export restrictions against Russia and continued pressure on the price of oil.

"The company continues to have a strong balance sheet with current net free cash of approximately $15m."

Shares in Thalassa were unchanged at 42.5p at 10:30 in London.

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