Oil services business Thalassa Energy began trading on AIM at the end of July raising £3.1m.

The company which was set up to acquire marine seismic equipment, specifically a Portable Modular Source System (PMSS).

The PMSS will provide the seismic (sound) source to allow exploration and production companies to perform oil reservoir monitoring.

The company was advised by the law firm LG team which included corporate partner Michael Storar and associates James Morgan and David Reith.

Michael Storar said: “We are delighted to have assisted Thalassa on its start-up and admission to AIM. 

“Our extensive experience of working with entrepreneurs in an international environment combined with our pre-eminent knowledge of the AIM market, particularly in the natural resources sector, has helped them to achieve a successful result - notwithstanding the difficult market conditions over recent months."

Duncan Soukup, executive chairman of Thalassa, said: "The LG team provided a tremendous level of support through some difficult months, as a core member of our flotation process.  Their experience was invaluable."

The nominated adviser was Dowgate Capital Advisers Ltd and the broker was Ocean Equities.

© Crimson Business Ltd. 2008