The Company's proven approach to capital allocation - investment in capital programs (participation surveys and dataset acquisitions that meet key criteria), purchase of Pulse shares, payment of a sustainable dividend, and prudent management of the revolving credit facility, will continue to guide Pulse's business throughout 2013. Pulse can generate solid shareholder free cash flow and continue to pay its dividend under moderately low year- over-year data sales.
With a large amount of recently shot 3D seismic data, the significant dataset acquisition in 2010, wide coverage over some of western Canada's most promising unconventional oil and liquids-rich gas plays, plus the financial strength to pursue a range of opportunities, Pulse is positioned to thrive in both the short and longer terms. As industry capital spending and field activities go up and down along with business conditions and opportunities, Pulse will continue to focus on generating as much data library sales, cash EBITDA and shareholder free cash flow per share as conditions allow, while seeking opportunities to grow.
Q1 2013 CONFERENCE CALL
Pulse will host a conference call on Monday, May 13, 2013 at 1:00 pm MT (3:00 pm ET) to discuss the Company's results for the first quarter. Neal Coleman, President & CEO will chair the call with Pamela Wicks, VP Finance & CFO taking part. A question-and-answer period will follow an update on the Company's strategies and outlook.
To participate please dial 416-340-8527 or 877-240-9772 approximately 10 minutes before the commencement of the call. To listen to the audio webcast of the conference call please visit the Company's website at www.pulseseismic.com.
An archival recording of the conference call will be available approximately one hour after the completion of the call until May 21, 2013. To access the replay, please dial 905-694-9451 or 800-408-3053 and enter the pass code 7164722.
CORPORATE PROFILE
Pulse is a market leader in the acquisition, marketing and licensing of 2D and 3D seismic data to the western Canadian energy sector. Pulse owns the second-largest licensable seismic data library in Canada, currently consisting of approximately 28,300 net square kilometres of 3D seismic and 340,000 net kilometres of 2D seismic. The library extensively covers the Western Canada Sedimentary Basin where most of Canada's oil and natural gas exploration and development occur.
Forward Looking Information
This news release contains information that constitutes "forward looking information" or "forward looking statements" (collectively, "forward looking information") within the meaning of applicable securities legislation. This forward looking information includes, among other things, statements regarding:
-- Pulse remains optimistic about the year ahead;-- Pulse remains hopeful of additional transaction-based sales of seismic data;-- Pulse is optimistic that the development of large, long-term capital intensive plays will trigger substantial sustained industry activity, including seismic data sales and new 3D participation surveys;-- Pulse anticipates opportunities for additional participation surveys in the Duvernay and Montney plays;-- Pulse can generate solid shareholder free cash flow and continue to pay its dividend under moderately low year- over-year data sales;-- general economic and industry outlook;-- industry activity levels and capital spending;-- forecast commodity prices;-- forecast oil and natural gas drilling activity;-- forecast oil and natural gas company capital budgets;-- forecast horizontal drilling activity in unconventional oil and gas plays;-- estimated future demand for seismic data;-- estimated future seismic data sales;-- estimated future demand for participation surveys;-- Pulse's business and growth strategy; and-- Other expectations, beliefs, plans, goals, objectives, assumptions, information and statements about possible future events, conditions, results and performance.
Undue reliance should not be placed on forward-looking information. Forward looking information is based upon current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to vary and in some instances to differ materially from those anticipated in the forward looking information.
The material risk factors that could cause actual results to differ materially from the forward-looking information include, but are not limited to:
-- economic risks;-- the demand for seismic data and participation surveys;-- the pricing of data library license sales;-- the level of pre-funding of participation surveys, and the ability of the Company to make subsequent data library sales from such participation surveys;-- the ability of the Company to complete participation surveys on time and within budget;-- environment, health and safety risks;-- the effect of seasonality and weather conditions on participation surveys;-- federal and provincial government laws and regulation, including taxation, royalty rates, environment and safety;-- competition;-- dependence upon qualified seismic field contractors;-- dependence upon key management, operations and marketing personnel;-- loss of seismic data; and-- protection of Intellectual Property.
The foregoing list of risks is not exhaustive. Additional information on these risks and other factors which could affect the Company's operations or financial results are included in the Risk Factors section of the Company's MD&A for the most recent calendar year and interim periods. Forward looking information is based upon the assumptions, expectations, estimates and opinions of the Company's management at the time the information is presented.
Contacts:
Pulse Seismic Inc.
Neal Coleman
President and CEO
(403) 237-5559 or Toll-free: 1-877-460-5559
info@pulseseismic.com
Pulse Seismic Inc.
Pamela Wicks
VP Finance and CFO
(403) 237-5559 or Toll-free: 1-877-460-5559
info@pulseseismic.com
www.pulseseismic.com
