Pulse Data Inc. announces closing of the sale of its Terrapoint business unit

    TSX Symbol - PSD

    CALGARY, June 3 /CNW/ - Pulse Data Inc. ("Pulse" or the "Company")
announced today that it has completed the sale of its Terrapoint business unit
to Ambercore Software Inc. ("Purchaser"). The purchase price of the
transaction was $6.5 million cash with an effective date of March 31, 2008.
    The base purchase price of $6.5 million included $3.0 million paid on
closing and the remaining $3.5 million is to be paid within thirteen months of
closing. Payment of the remaining $3.5 million has been guaranteed by SQFive
Intelligent Oilfield Solutions Ltd., a subsidiary of Quorum Oil and Gas
Technology Fund Limited. Incremental future consideration, up to an additional
$1.5 million, may also be realized based upon results of consolidated
operations of the Purchaser during the twelve month period following the
closing date.
    The transaction represents a sale of the majority of the net assets of
the Terrapoint business unit including certain working capital items totaling
$4.5 million. The Purchaser has hired the entire Terrapoint management team
and essentially all Canadian and U.S. Terrapoint employees. Pulse retains the
Canadian tax pools having an estimated value to the Company of approximately
$3.6 million.
    With this sale, Pulse has now divested itself of all non-core business
assets and has positioned itself as a pure play seismic data library company
providing 2D and 3D seismic to the oil and natural gas industry in Western
Canada. Pulse will focus solely on growing its seismic data library through
acquisition of seismic data sets and participation surveys.


    Pulse is a market leader in the acquisition, marketing and licensing of
2D and 3D seismic data for the western Canadian energy sector. Pulse owns the
second-largest freely tradeable seismic data library in Canada, currently
consisting of 257,300 net kilometres of 2D seismic and 11,700 net square
kilometres of 3D seismic. The library extensively covers the Western Canada
Sedimentary Basin where most of Canada's oil and natural gas exploration and
development occurs.
    Pulse has publicly traded on the TSX since 2001. The Company has paid its
shareholders a quarterly dividend since 2003 and at Pulse's current share
price provides one of the highest dividend yields on the TSX.

    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 securities laws.

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.

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Pulse Seismic Inc.

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