PXGEO acquires VYACHESLAV TIKHONOV through share issue

V.T. is currently on a long-term bareboat charter to the seismic division of PAO Sovcomflot with a firm period to 15 November 2022 and options to extend the charterparty for a period of up to three further years. The firm charter period provides PXGEO with over $11 million in backlog.

The purchase of V.T. will be funded entirely through the issue of new shares in PXGEO Limited leaving V.T. unencumbered and with no debt service obligation for PXGEO associated with the vessel acquisition.

‍