A profit warning from oil services company Thalassa (THAL) is the latest in a string of disappointments from the company, as covered extensively by IC columnist Simon Thompson.
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With Thalassa's clients reining in spending, the company doesn't expect any of its order backlog, other than potential multi-client data sales, to be converted in the current year. Thalassa has also said it is only willing to proceed with a big Russian Arctic project if it gets written assurance from the US and/or UK authorities that it would not be breaching sanctions.
A warning related to the Russian project had been responsible for an earlier share price slide before the price fell further due to the controversial nature of a recent property deal.
