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SeaBird Exploration Plc (0MO8)

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Thursday 20 February, 2020

SeaBird Exploration Plc

SeaBird Exploration: new OBN source contract in Asia Pacific

SeaBird Exploration: new OBN source contract in Asia Pacific

20 February 2020, Limassol, Cyprus

Further to the notice dated 9 January 2020, SeaBird Exploration has received a letter of award for an OBN source contract with an expected duration of about 5 months. The contract is expected to start in April 2020. SeaBird will employ the Voyager Explorer on this contract and the bareboat-charter for the vessel will therefore be extended. 

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 specializes 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 Quality, Health, Safety and Environment (QHSE), 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.

For further queries contact:

Gunnar Jansen
CEO SeaBird Exploration
Phone: +47 9411 9191

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