Pulse Data Inc. reports Q3 2007 results and declaration of increased quarterly dividend



    TSX Symbol - PSD

    CALGARY, Nov. 7 /CNW/ - Douglas Cutts, President and Chief Executive
Officer of Pulse Data Inc. ("Pulse" or "the Company"), is pleased to report
the financial and operating results of Pulse for the three and nine months
ended September 30, 2007, which included new records in seismic data library
sales and a more than 80 percent increase in free cash flow.
    Mr. Cutts is also pleased to announce that Pulse has declared its
eighteenth consecutive quarterly dividend. The dividend is $0.05 per common
share (a 33% increase from the previous quarter) and will be paid on
December 20, 2007 to shareholders of record at the close of business on
December 6, 2007. Pulse's closing share price on November 7, 2007 of $2.86 per
share results in an effective yield of approximately 7.0%. The Company's
Dividend Reinvestment Plan for eligible shareholders will be available for
this dividend.
    A conference call to review the third quarter results has been scheduled
for 1:00 pm EST (11:00 am MST) on Thursday November 8, 2007. The conference
call dial-in number is (416) 644-3429 (Toronto) and 1-800-588-4490. A live
webcast of the conference call will be available at:
http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=2066680.

    
    HIGHLIGHTS FOR THE THIRD QUARTER AND FIRST NINE MONTHS OF 2007

    -   Third consecutive record quarterly seismic data library sales, as
        seismic data library sales increased by 30 percent to $9.1 million
        from $7.0 million in the third quarter of 2006.

    -   New nine-month data library sales record through a 27 percent
        increase over highest previous nine-month data library sales,
        attaining $30.2 million in revenue compared to $23.7 million for the
        same period in 2006.

    -   Strategic acquisitions of seismic data with the addition of 1,536 net
        square kilometres of 3D data and 65 net kilometres of 2D data in two
        data purchases during the third quarter.

    -   Commenced Cutbank River 3D participation survey and delivered the
        first 79 net square kilometres in September, with the balance
        delivered subsequent to the end of the quarter.

    -   Increase of 84 percent in free cash flow to $19.6 million for the
        current nine-month period from $10.7 million in the nine months ended
        September 30, 2006.

    -   Working capital of $9.0 million (including cash of $11.8 million) at
        September 30, 2007 compared to $5.7 million (including cash of
        $2.2 million) at December 31, 2006.

    -   On September 21, 2007 the Board of Directors approved a 33 percent
        increase in the annual dividend rate from $0.15 to $0.20 per common
        share.

    -   Repurchased 240,900 common shares through the Normal Course Issuer
        Bid at a total cost of $701,000.

    Subsequent to the end of the third quarter:

    -   On October 19, 2007 Pulse shareholders overwhelmingly rejected a
        hostile takeover bid.

    -   On October 29, 2007 Pulse executed a non-binding Letter of Intent to
        sell its wholly-owned Terrapoint business unit. The scheduled closing
        date is November 16, 2007.

    -   Pulse completed the $7.5 million Cutbank River 3D seismic
        participation survey, adding 169 net square kilometres to the seismic
        library in addition to the 79 net square kilometres completed in
        September 2007, for a total of 248 net square kilometres.



    Financial Highlights
    (000s except per share data
     and numbers of shares)

                      Three months ended      Nine months ended   Year ended
                        September 30,           September 30,       Dec. 31,
                        -------------           -------------       --------
                      2007        2006        2007        2006        2006
                      ----        ----        ----        ----        ----
                        (unaudited)             (unaudited)        (audited)

    Revenue from
     continuing
     operations:
      Data library
       sales       $   9,070   $   6,976   $  30,220   $  23,708   $  34,214
      Participation
       surveys     $   1,700   $       -   $   1,700   $   3,058   $   3,058
      Corporate
       & other     $       -   $       -   $       -   $       -   $    (130)
                  -----------------------------------------------------------
    Total revenue
     from
     continuing
     operations    $  10,770   $   6,976   $  31,920   $  26,766   $  37,142

    Amortization
     of seismic
     data library  $   7,291   $   5,024   $  19,867   $  16,987   $  22,574

    Net earnings
     (loss) from
     continuing
     ops           $    (279)  $    (288)  $     894   $   1,478   $   3,474
    Net earnings
     (loss) from
     continuing
     ops per share:
      Basic and
       diluted     $(0.01)(a)  $(0.01)(a)  $    0.02   $    0.03   $    0.07
    Net earnings
     (loss)        $  (4,767)  $     446   $  (5,287)  $  (4,629)  $  (3,290)
    Net earnings
     (loss) per
     share:
      Basic and
       diluted     $(0.09)(a)  $    0.01   $(0.11)(a)  $(0.10)(a)  $(0.07)(a)
    Funds from
     continuing
     operations(b) $   7,569   $   4,975   $  21,900   $  17,742   $  25,851
    Funds from
     continuing
     operations
     per share(b):
      Basic        $    0.14   $    0.11   $    0.44   $    0.38   $    0.55
      Diluted      $    0.14   $    0.10   $    0.44   $    0.37   $    0.54
    Free cash
     flow(b)       $   5,290   $   4,972   $  19,621   $  10,671   $  19,155
    Working
     capital       $   9,001   $  13,437   $   9,001   $  13,437   $   5,681
    Total assets   $ 134,978   $ 108,954   $ 134,978   $ 108,954   $ 131,910
    Capital
     expenditures:
      Seismic data
       purchases   $  11,738   $   3,850   $  11,738   $   3,850   $  36,850
      Participation
       surveys     $   2,279   $       3   $   2,279   $   7,071   $   6,696
      Changes to
       work in
       progress    $   3,991   $     (11)  $   3,991   $    (192)  $    (192)
      Property &
       equipment
       additions   $    (242)  $  (1,374)  $     (53)  $     112   $     128
                  -----------------------------------------------------------
    Total capital
     expenditures  $  17,766   $   2,468   $  17,955   $  10,841   $  43,482
    Total long-term
     debt (net of
     current
     maturities and
     debt financing
     costs)        $  25,514   $  14,010   $  25,514   $  14,010   $  31,996
    Shareholders'
     equity        $  81,975   $  75,479   $  81,975   $  75,479   $  75,357

    Weighted
     average shares
     outstanding:
      Basic       52,634,778  46,834,854  49,544,392  46,351,164  47,145,373
      Diluted     53,609,240  47,638,555  50,303,149  47,351,039  48,007,006
    Shares
     outstanding at
     period-end   54,589,002  47,634,337  54,589,002  47,634,337  47,919,342

    (a) Basic weighted average shares outstanding are used to calculate loss
        per share.
    (b) These non-GAAP financial measures are defined below.

    Seismic Library:

      2D in net
       kilometres    257,281     243,267     257,281     243,267     257,216
      3D in net
       square
       kilometres     11,438       9,903      11,438       9,903       9,823

    

    FINANCIAL SUMMARY

    The Company's continuous disclosure documents provide discussion and
analysis of "free cash flow", "funds from operations" and "funds from
operations per share". These financial measures do not have standard
definitions prescribed by Canadian generally accepted accounting principles
(GAAP) and, therefore, may not be comparable to similar measures disclosed by
other companies. The Company has included these non-GAAP financial measures
because management, investors, analysts and others use them as measures of the
Company's financial performance. The Company's definition of free cash flow is
cash available for debt servicing, discretionary capital expenditures and the
payment of dividends, and is calculated as funds from operations less
participation survey additions to the seismic data library. The Company's
definition of funds from operations is cash flow from operations as prescribed
by GAAP, but excluding the impact of changes in non-cash working capital.
Funds from operations per share is defined as funds from operations divided by
the weighted average number of shares outstanding for the period.

    Overview

    Free cash flow for the first nine months of 2007 was $19.6 million,
compared to free cash flow of $10.7 million for the first nine months of 2006.
This 83.9 percent period-over-period increase in free cash flow is
attributable to the increase of 19.3 percent in total seismic revenue and
lower participation survey costs incurred in the first nine months of 2007.
    At September 30, 2007 Pulse had working capital of $9.0 million
(including cash of $11.8 million) compared to working capital of $13.4 million
(cash of $15.5 million) at September 30, 2006 and $5.7 million (cash of
$2.2 million) at December 31, 2006.
    Net earnings from continuing operations for the nine months ended
September 30, 2007 totalled $894,000 ($0.02 per share basic and diluted),
compared to net earnings from continuing operations of $1.5 million ($0.03 per
share basic and diluted) for the same period in 2006. This decrease, in spite
of record seismic data library sales, was due to significant unplanned
corporate transaction costs during the first nine months of 2007 and increased
amortization and interest expense. The net loss from continuing operations for
the three months ended September 30, 2007 was $279,000 ($0.01 per share basic
and diluted) compared to a net loss of $288,000 ($0.01 per share basic and
diluted) for the comparable period of 2006. These results also reflect that
the higher seismic data library sales for the period were offset by
significant unplanned corporate transaction costs and increased amortization
expense and interest expense.
    The net loss for the nine months ended September 30, 2007 was
$5.3 million ($0.11 per share basic and diluted) compared to a net loss of
$4.6 million ($0.10 per share basic and diluted) for the same period in 2006.
The net loss for the three months ended September 30, 2007 was $4.8 million
($0.09 per share basic and diluted) compared to net earnings of $446,000
($0.01 per share basic and diluted) for the same period in 2006. A significant
factor contributing to this increase in the loss for both the three-month and
nine-month periods ended September 30, 2007 was the write-down of certain
Terrapoint assets of $3.3 million after tax in the third quarter of 2007, in
addition to the increased expenses in continuing operations discussed in the
previous paragraph. When calculating the loss per share for the nine months
ended September 30, 2007 and 2006, as well as the quarter ended September 30,
2007, the basic number of shares outstanding was utilized as using diluted
shares would have the effect of inappropriately decreasing the net loss per
share.
    Funds from continuing operations for the first nine months of 2007
totalled $21.9 million ($0.44 per share basic and diluted) compared to
$17.7 million ($0.38 per share basic and $0.37 per share diluted) for the
first nine months of 2006. Funds from continuing operations per share for the
first nine months of 2007 and 2006 are based on the weighted average shares
outstanding of 49,544,392 (diluted - 50,303,149) for the first nine months of
2007, compared to 46,351,164 (diluted - 47,351,039) for the comparable period
of 2006. Funds from continuing operations for the three months ended
September 30, 2007 were $7.6 million ($0.14 per share basic and diluted),
compared to $5.0 million ($0.11 per share basic and $0.10 per share diluted)
for the third quarter of 2006. The funds from continuing operations per share
for the third quarters of 2007 and 2006 are based on the weighted average
shares outstanding of 52,634,778 (diluted - 53,609,240) for the third quarter
of 2007 compared to 46,834,854 (diluted - 47,638,555) for the comparable
period in 2006.
    On July 27, 2007 Pulse closed a "bought-deal" private placement financing
of 6.44 million common shares at an issue price of $2.70 per common share for
total gross proceeds of $17,388,000 (the "offering"). The offering included a
private placement of 4.5 million common shares at $2.70 per share, an
Underwriter's Option that was fully exercised for 1.1 million common shares at
$2.70 per share, and an Overallotment Option granted to the underwriters that
was fully exercised for an additional 840,000 common shares at $2.70 per
common share. Pulse used the proceeds of the offering to finance a 3D seismic
data acquisition of $11.1 million from a joint venture partner and,
subsequently, to partially fund a 3D seismic participation survey program
consisting of 248 net square kilometres in the Deep Basin area of west-central
Alberta.
    During the nine months ended September 30, 2007, the Company repurchased
240,900 common shares under its Normal Course Issuer Bid at an average price
of $2.91, for a total cost of $701,000.
    Pulse paid its seventeenth consecutive quarterly dividend of $0.0375 per
common share on September 20, 2007.
    Pulse announced on September 21, 2007 that as a result of another record
quarter of data library sales and increased free cash flow, the Board of
Directors had approved a 33 percent increase in the annual dividend rate, from
$0.15 to $0.20 per share.

    Revenue

    Revenue from continuing operations includes seismic data library sales
and participation survey revenues. One 3D participation survey was begun in
the first nine months of 2007, compared to one 3D participation survey
completed in the comparable period in 2006. The 2007 survey generated
$1.7 million of participation survey revenue for the first nine months of 2007
compared to participation survey revenue of $3.1 million from the program in
2006. For the nine months ended September 30, 2007, seismic data library sales
increased by 27.5 percent to $30.2 million from $23.7 million for the
comparable period in 2006. For the three months ended September 30, 2007,
seismic data library sales were $9.1 million compared to $7.0 million for the
comparable period in 2006. The increases in seismic data library sales for
both the third quarter and first nine months of 2007 were due in part to
higher demand for seismic data for exploration from junior oil and natural gas
companies, along with the additional sales generated from the Foothills 2D
dataset which Pulse purchased in November 2006, and in part to a general price
increase for seismic data library licences effective January 1, 2007.

    Data Library

    Pulse acquires seismic data to grow its data library through two main
methods. The Company purchases proprietary rights to complementary seismic
data sets when the opportunity arises, and conducts participation surveys.
During the third quarter of 2007, Pulse acquired the remaining 50 percent
interest in certain 3D data that it already partially owned from an industry
partner. The data consists of 1,388 net square kilometres of 3D seismic data
and 65 net kilometres of 2D seismic data. In a second, smaller transaction,
Pulse purchased the remaining 50 percent interest in another 3D dataset that
it partially owned, which consisted of 148 net square kilometres of 3D data.
In July 2007 Pulse commenced a 248 net square kilometre 3D participation
survey in west-central Alberta, of which a portion was completed and delivered
in September 2007. Progress on this survey was hampered by bad weather in
August and September, delaying delivery of the remainder of the data to the
clients until October. In comparison, during the first nine months of 2006 the
Company completed a 237 net square kilometre 3D participation survey in
west-central Alberta at a cost of $6.7 million.

    Liquidity, Capital Resources and Capital Requirements

    At September 30, 2007 the working capital position of Pulse, including
the current portion of long-term debt of $8.0 million, was $9.0 million,
compared to $5.7 million at December 31, 2006. For the nine months ended
September 30, 2007 Pulse generated $21.9 million in funds from continuing
operations, had a positive net change in non-cash working capital items
relating to continuing operations of $6.5 million, and utilized working
capital for long-term debt repayment ($6.0 million), dividends ($5.3 million)
and to finance its Terrapoint business unit ($6.4 million). Additionally, the
Company raised $16.2 million after transaction costs through a private
placement, sold certain investments for $0.7 million, purchased seismic data
for $11.8 million, conducted and completed a portion of a participation survey
for $2.3 million and had an increase of $4.0 million of participation survey
work in progress at September 30, 2007. All of these items resulted in an
increase from December 31, 2006 of $9.6 million to the cash balance, which was
$11.7 million at September 30, 2007.
    With three quarters of record data library sales and a good start to the
fourth quarter, Pulse management expects that the Company's funds from
operations will be sufficient to finance future operations, service debt, pay
dividends and carry out the budgeted capital expenditures through 2007. The
ongoing growth in the Company's seismic data library continues to position
Pulse to be a leading provider of valuable seismic data to industry
participants well into the future. Historical data sales analysis shows that
most seismic data retains its value for many years. Utilizing the recent
technological advancements in data reprocessing, the Company's clients are
able to enhance the quality of older seismic data in the Company's library.


    
    PULSE DATA INC.
    Interim Consolidated Balance Sheets

    (In thousands of dollars) (unaudited)
    -------------------------------------------------------------------------
                                                   September 30, December 31,
                                                           2007         2006
    -------------------------------------------------------------------------

    Assets

    Current assets:
      Cash and cash equivalents                        $  11,827   $   2,181
      Accounts receivable                                 12,347      16,191
      Prepaid expenses                                       260         233
      Assets held for sale                                 4,043       3,809
    -------------------------------------------------------------------------
                                                          28,477      22,414

    Seismic data library                                  94,838     100,688
    Participation surveys in progress                      3,991           -
    Assets held for sale                                   6,919       6,943
    Property and equipment                                   697         904
    Investments                                                -         351
    Other                                                     56         610
    -------------------------------------------------------------------------
                                                       $ 134,978   $ 131,910
    -------------------------------------------------------------------------

    Liabilities and Shareholders' Equity

    Current liabilities:
      Accounts payable and accrued liabilities         $   6,613   $   4,002
      Deferred revenue                                     3,902       3,781
      Current portion of long-term debt                    8,004       8,004
      Liabilities held for sale                              957         946
                  -----------------------------------------------------------
                                                          19,476      16,733

    Long-term debt                                        25,514      31,996
    Future income taxes                                    8,013       7,824

    Shareholders' equity:
      Share capital                                       71,961      54,887
      Contributed surplus                                  1,839       1,305
      Retained earnings                                    8,175      19,165
    -------------------------------------------------------------------------
                                                          81,975      75,357

    -------------------------------------------------------------------------
                                                       $ 134,978   $ 131,910
    -------------------------------------------------------------------------



    PULSE DATA INC.
    Interim Consolidated Statements of Earnings (loss) and Retained Earnings

    (In thousands of dollars, except per share data) (unaudited)
    -------------------------------------------------------------------------
                                     Three months             Nine months
                                  ended September 30,     ended September 30,
                              ----------------------- -----------------------
                                    2007        2006        2007        2006
    -------------------------------------------------------------------------

    Revenue

      Data library sales       $   9,070   $   6,976   $  30,220   $  23,708
      Participation survey         1,700           -       1,700       3,058
    -------------------------------------------------------------------------
    Total revenue                 10,770       6,976      31,920      26,766

    Expenses:
      Amortization of seismic
       data library                7,291       5,024      19,867      16,987
      Operating                      841         899       2,550       2,959
      Depreciation and
       amortization                    5          89         154         269
      Loss on assets held for
       trading                         -           -           6           -
      General and administrative   1,585       1,436       4,394       4,210
      Corporate transaction
       costs                         876           -       1,750           -

    Interest:
      Long-term debt                 687         417       2,111       1,276
      Other                         (147)       (188)       (312)       (428)
    -------------------------------------------------------------------------
                                     540         229       1,799         848
    -------------------------------------------------------------------------
    Earnings (loss) from
     continuing operations
      before income taxes           (368)       (701)      1,400       1,493

    Income taxes:
      Current (recovery)            (279)          -         398       2,182
      Future (reduction)             190        (413)        108      (2,167)
    -------------------------------------------------------------------------
                                     (89)       (413)        506          15
    -------------------------------------------------------------------------
    Net earnings (loss) from
     continuing operations          (279)       (288)        894       1,478

    Earnings (loss) from
     discontinued operations,
     net of income taxes          (4,488)        734      (6,181)     (6,107)
    -------------------------------------------------------------------------
    Net earnings (loss)        $  (4,767)  $     446   $  (5,287)  $  (4,629)

    Retained earnings,
     beginning of period          15,368      20,952      19,165      29,545

    Change in accounting policy        -           -         322           -

    Normal course issuer bid        (384)          -        (384)          -

    Dividends paid                (2,042)     (1,776)     (5,641)     (5,294)
    -------------------------------------------------------------------------
    Retained earnings, end
     of period                 $   8,175   $  19,622   $   8,175   $  19,622
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Earnings (loss) per
     share from continuing
     operations, basic and
     diluted                   $   (0.01)  $   (0.01)  $    0.02   $    0.03

    Earnings (loss) per share,
     basic and diluted         $   (0.09)  $    0.01   $   (0.11)  $   (0.10)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------



    PULSE DATA INC.
    Interim Consolidated Statements of Cash Flows
    (In thousands of dollars) (unaudited)
    -------------------------------------------------------------------------
                                     Three months             Nine months
                                  ended September 30,     ended September 30,
                              ----------------------- -----------------------
                                    2007        2006        2007        2006
    -------------------------------------------------------------------------

    Cash provided by (used in):

    Continuing operations:
      Net earnings (loss)      $    (279)  $    (288)   $    894   $   1,478
      Items not involving cash:
        Amortization of seismic
         data library              7,291       5,024      19,867      16,987
        Depreciation and
         amortization                  5          89         154         269
        Future income taxes
         (reduction)                 190        (413)        108      (2,167)
        Unrealized loss (gain)
         on foreign exchange           -           3           -         (71)
        Stock-based
         compensation                325         545         759       1,195
        Loss on assets held
         for trading                   -           -           6           -
        Other                         37          15         112          51
    -------------------------------------------------------------------------
                                   7,569       4,975      21,900      17,742
    Net change in non-cash
     working capital items
     related to continuing
     operations                    8,105        (671)     11,413       7,555
    -------------------------------------------------------------------------
    Cash flow from continuing
     operations                   15,674       4,304      33,313      25,297

    Discontinued operations:
      Net change in cash from
       discontinued operations      (405)       (128)     (2,264)      1,095
      Additions to property
       and equipment              (1,571)       (206)     (4,097)     (1,843)
    -------------------------------------------------------------------------
                                  (1,976)       (334)     (6,361)       (748)
    Financing:
      Repayment of long-term
       debt                       (2,001)     (3,757)     (6,003)     (6,857)
      Proceeds from sale of
       subsidiary                      -       1,714           -       1,714
      Issue of share capital      16,131         487      16,171       1,571
      Increase in deferred
       charges                       (22)          -         (19)          -
      Dividends paid - net        (1,970)     (1,572)     (5,347)     (5,090)
    -------------------------------------------------------------------------
                                  12,138      (3,128)      4,802      (8,662)
    Investing:
      Additions to seismic
       data library through
       participation surveys      (2,279)         (3)     (2,279)     (7,071)
      Seismic data purchases     (11,738)     (3,850)    (11,738)     (3,850)
      (Increase) decrease in
       participation surveys
       in progress                (3,991)         11      (3,991)        192
      (Additions) disposal of
       property and equipment        242         (32)         53        (112)
      Sale of investments              -          81         729          81
      Net change in non-cash
       working capital items
       related to investing       (4,882)       (179)     (4,882)     (1,035)
    -------------------------------------------------------------------------
                                 (22,648)     (3,972)    (22,108)    (11,795)
    -------------------------------------------------------------------------
    Increase (decrease) in
     cash position                 3,188      (3,130)      9,646       4,092
    Cash and cash equivalents,
     beginning of period           8,639      18,659       2,181      11,437
    -------------------------------------------------------------------------
    Cash and cash equivalents,
     end of period             $  11,827   $  15,529   $  11,827   $  15,529
    -------------------------------------------------------------------------
    

    OUTLOOK

    The record quarterly seismic data library sales set in the first, second
and third quarters of 2007 - which combined for a record nine-month period -
are attributable to the ongoing growth in Pulse's seismic data library and to
the successful efforts of the Company's strong sales and marketing team.
Pulse's business model is based on continuous growth of the seismic data
library and effective sales and marketing, and the quarterly results in 2007
indicate that the business model is working.
    The third quarter for Pulse is historically one of the weaker
revenue-generating periods of the year. However, the third-quarter record in
data library sales, attained during an oil and natural gas industry slowdown,
strengthens our confidence in the value of Pulse's seismic data library. Of
note, total seismic revenue has been virtually constant for each of the last
four fiscal quarters, in contrast to substantial quarterly fluctuations in
previous years. Free cash flow has been increasing substantially, enabling the
recent increase to the quarterly dividend. Going into the fourth quarter the
Company's working capital position was also strong, with an increase of
$9.6 million in cash on hand since the end of 2006.
    For the remainder of this year, uncertainty within the oil and natural
gas industry concerning natural gas prices, the decision by the Alberta
government to increase oil and natural gas royalties effective in 2009, and
further reductions to the projected pace of field activity over the coming
year all create cause for caution. These conditions appear to be translating
into some decision-making hesitancy by oil and natural gas companies regarding
exploration-related activities and the level of capital expenditures,
including seismic purchases. Pulse is taking a cautious outlook with respect
to the fourth quarter of 2007 and beyond into 2008.
    Despite this, Pulse has had a good start to the fourth quarter of 2007,
with seismic data library sales being on budget and the completion and
delivery of the balance of the participation survey as discussed above. So far
we are on-track to achieve our internal sales revenue budget for the fourth
quarter. The current level of activity reinforces our confidence in the Pulse
business model.
    Further to the notes in the Company's Directors' Circular of October 10,
2007, Pulse's management has had numerous discussions with a potential
strategic buyer that had expressed an interest in a possible acquisition of
Pulse. As a result of a significant disagreement on the value and the future
capital structure of Pulse, both parties have ceased discussions.
    By building on the solid momentum of seismic data sales generated in the
first nine months of 2007, Pulse continues to foresee reasonable levels of
licensing activity, revenue, operating margin and free cash flow in the months
ahead. We will maintain our overall philosophy of acquiring quality seismic
data in whichever way is most efficient and expedient, whether through
acquisition of additional existing data sets or through further participation
surveys. Pulse is encouraged by the recent progress towards the disposition of
the Terrapoint business unit, which Pulse is now targeting to complete by the
middle of November, 2007.

    CORPORATE PROFILE

    Pulse is a Calgary-based company specializing in seismic data
acquisition, licensing and marketing. Pulse's seismic library at the end of
the third quarter consists of approximately 11,400 net square kilometres of 3D
seismic data and 257,300 net kilometres of 2D seismic data.

    Pulse trades on the Toronto Stock Exchange under the symbol PSD.

    Certain information contained herein may constitute forward-looking
statements under applicable securities laws. Such statements are subject to
known or unknown risks and uncertainties that may cause actual results to
differ materially from those anticipated or implied in the forward-looking
statements. Investors are encouraged to review the "Risk Factors" section of
the Management's Discussion and Analysis in the Company's most recent annual
and interim reports for a discussion of risks that could affect the Company's
operations and financial results. Forward-looking statements are based upon
management's assumptions, expectations and estimates at the time that such
statements are made. Pulse does not update forward-looking statements should
circumstances change or management's assumptions, expectations or estimates
change, except as required by law.





For further information:

For further information: Douglas Cutts, President and C.E.O., Tel.:
(403) 237-5559, Toll-free: 1-877-460-5559, E-mail: info@pulsedatainc.com;
Please visit our website at www.pulsedatainc.com

Organization Profile

Pulse Seismic Inc.

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