No specific announcement has previously been issued regarding this contract, but the contract was communicated as firm in the company's 4Q19 presentation.
The contract revenue was estimated at US$1 million, and AGS will receive a cancelation fee of 25% of the estimated revenue amount.
Read the article online at: https://www.oilfieldtechnology.com/exploration/26032020/axxis-geo-solutions-receives-cancellation-of-north-sea-contract/
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