GOK Surges Following News of $110 Million Contract

Shares of Geokinetics Inc (AMEX: GOK) are advancing after the company announced that its subsidiary has received a contract worth $110 million from Mexico's national oil company.

GOK’s shares jumped 24.55% to $4.87 at 2.42 pm. GOK’s subsidiary will be doing seismic surveys for Petroleos Mexicanos. The company expects the work to get started in the last 3 months of the year and for it to continue till early 2012.

GOK’s shares have fallen 12.33% over the past month and dipped 59.36% so far this year.

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