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Wednesday 30 May, 2012

SeaBird Exploration plc

SeaBird - Consolidation of shares

SeaBird - Consolidation of shares

30 May 2012, Nicosia, Cyprus:

Reference is made to announcements from SeaBird Exploration Plc ("SeaBird") on 20 April 2012 and 15 May 2012. The Annual General Meeting of SeaBird resolved on 15 May 2012 to consolidate the shares of the company so that 10 old shares shall give 1 new share.  After the share consolidation, the nominal value of the shares shall be USD 0.1. Shareholders who subsequent to the consolidation would own fractions of a share will free of charge be rounded up to the nearest whole share through transfer from treasury shares. The shares will be traded ex consolidation from 5 June 2012.

 
For further queries contact:
Dag Reynolds
CEO SeaBird Exploration
Phone: +47 90883737

Nils Haugestad
CFO SeaBird Exploration
Phone: +971 4 427 1700
 

SeaBird is a global provider of marine acquisition for 2D/3D and 4D seismic data, and associated products and services to the oil and gas industry. SeaBird specialises in high quality operations within the high end of the source vessel and 2D market, as well as in the shallow/deep water 2D/3D and 4D market. Main focus for the company is proprietary seismic surveys (contract seismic). Main success criteria for the company are an unrelenting focus on Health, Safety, Security, Environment and Quality (HSSEQ), combined with efficient collection of high quality seismic data. All statements in this press release other than statements of historical fact are forward-looking statements and are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include SeaBird`s reliance on a cyclical industry and the utilization of the company's vessels. Actual results may differ substantially from those expected or projected in the forward-looking statements.

 
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.



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Source: SeaBird Exploration plc via Thomson Reuters ONE

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