The board of Rock Solid Images (RSI) said the Aberdeen company could be sold after a strategic review of the business.
It comes after RSI, formerly Offshore Hydrocarbon Mapping, sold its loss-making marine controlled-source electromagnetic survey arm earlier this year after making pre-tax losses of £17.25million in the 12 months to August 31, 2010.
RSI, which provides advanced geophysical processing and interpretation consulting services to the oil and gas industry, said it had engaged Simmons and Company, specialist corporate-finance adviser to the energy industry, to help with a strategic review which could lead to a full or partial sale, or the restructuring of the company.