Dawson Geophysical Executes Loan Agreement
23 Dezember 2004 - 9:15PM
PR Newswire (US)
Dawson Geophysical Executes Loan Agreement MIDLAND, Texas, Dec. 23
/PRNewswire-FirstCall/ -- On December 22, 2004 Dawson Geophysical
Company (NASDAQ:DWSN) established a $10.0 million revolving line of
credit loan agreement with Western National Bank. Interest on
borrowed amounts is payable at a rate equal to the greater of the
prime rate or 5%. Borrowed amounts will be secured by the Company's
accounts receivable. Dawson Geophysical Company is the leading
provider of onshore seismic data acquisition services in the United
States. Founded in 1952, Dawson acquires and processes 2-D, 3-D and
multi-component seismic data for its clients, ranging from major
oil and gas companies to independent oil and gas operators as well
as providers of multi-client data libraries. Forward-Looking
Statements. Statements about Dawson Geophysical Company's outlook
and all other statements in this release other than historical
facts are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements and all references to financial
estimates rely on a number of assumptions concerning future events
and are subject to a number of uncertainties and other factors,
many of which are outside its control, and which could cause actual
results to differ materially from such statements. These factors
include, but are not limited to, dependence upon energy industry
spending, the volatility of oil and gas prices, weather
interruptions, ability to obtain land access rights of way and the
availability of capital resources. A discussion of these factors,
including risks and uncertainties, is set forth in the Company's
annual and quarterly reports filed from time to time with the
Securities and Exchange Commission. Dawson Geophysical Company
disclaims any intention or obligation to revise any forward-looking
statements, including financial estimates, whether as a result of
new information, future event, or otherwise. DATASOURCE: Dawson
Geophysical Company CONTACT: L. Decker Dawson, CEO, or Christina W.
Hagan, CFO, both of Dawson Geophysical Company, +1-800-332-9766 Web
site: http://www.dawson3d.com/
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