8 November 2018, Limassol, Cyprus
SeaBird Exploration has received another 30 day extension for the Osprey Explorer, currently working on an OBN survey in the US Gulf of Mexico that was announced on 25 June 2018 and commenced in late August. The extension is in accordance with the contract and brings the firm period of the contract to a total of 120 days. The company is using the Osprey Explorer for the work.
In addition, the company has started a multi-client 2D survey with a duration of approximately two weeks in North-West Europe, which is to be acquired in November. The multi-client survey is pre-funded and approximately cash neutral. The company is using the Harrier Explorer for the survey.
About SeaBird: 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:
Hans Petter Klohs
CEO SeaBird Exploration
Phone: +47 22402718
or
Nils Haugestad
CFO SeaBird Exploration
Phone: +47 22402717