Press Release Source: TGC Industries, Inc.
TGC Industries Announces Agreements to Purchase New Vibrator Vehicles and Drill Rig Equipment
PLANO, TEXAS – JANUARY 8, 2006 – TGC Industries, Inc. (AMEX: TGE) today announced that it has entered into purchase agreements to acquire six new vibration vehicles for delivery in the first quarter of 2007 and two new shot-hole drill rigs for delivery in the second quarter. Currently, TGC has 42 vibration vehicles and nine shot-hole drill rigs operating as energy sources.
Wayne Whitener, President and CEO of TGC Industries, stated, “Due to continued strong demand for our 3-D land seismic surveys, we deployed our eighth seismic field acquisition crew during the fourth quarter of 2006 and continue to invest in new equipment to maintain productive and efficient crews to meet our customers’ needs. In May of 2006, we acquired the assets of Highland Industry for our shot-hole contract business, and this is our first purchase of new shot-hole equipment since that acquisition.”
TGC Industries, Inc., based in Plano, Texas, with branch offices in Houston and Oklahoma City, is one of the leading providers of seismic data acquisition services throughout the continental United States.
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.
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.
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