DUG TECHNOLOGY LTD - ASX Briefs

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DUG TECHNOLOGY LTD (ASX: DUG)

DUG: Update to DUGs exposure to Silicon Valley Bank

DUG TECHNOLOGY LTD

DUG Technology will not suffer financial loss with Silicon Valley Bank (SVB).
Total group cash holdings are US$5.7 million with US$5.1 million held in Australia.
The Company can now transfer funds from SVB to international payees and completed transfers to DUG’s Commonwealth Bank of Australia accounts.

2023-03-21 13:51:00

DUG: DUG's exposure to Silicon Valley Bank

DUG TECHNOLOGY LTD

DUG Technology's transactional bank, Silicon Valley Bank, is facing economic uncertainty with their US and UK offices.
As of March 10, 2023, DUG has $5.1 million in cash holdings, including deposits with SVB, but retains sufficient liquidity to operate as normal.
The USA and UK governments guarantee bank deposits up to $250,000 and GBP85,000 respectively.

2023-03-13 09:43:00

DUG: Significant earnings boost from multi-client data sale

DUG TECHNOLOGY LTD

DUG Technology Ltd (ASX: DUG) has reported an order from Searcher Seismic Pty Limited of US$2.5 million (A$3.6 million).
This is related to a significant multi-client data sale made by Searcher.
DUG undertook 3D seismic processing and imaging on a 15,900 square kilometre area in the Campeche Bay area of the Gulf of Mexico for a share in future profits from the sale of the data.

2023-02-02 08:17:00