13 March, 2009. British Virgin Islands/Cyprus : SeaBird Exploration Limited ('SeaBird' or 'SBX')
Mr. Geir Olsen has decided to resign as Chief Financial Officer ('CFO') from SeaBird and Mr Kai Solberg-Hansen has been appointed new CFO. He has extensive experience from the oil service industry as both CFO and CEO of private and publicly traded companies. His most recent positions have been President and CEO of Thule Drilling ASA, President and CEO of Ocean Rig ASA, CFO and subsequently President and CEO of Northern Offshore Ltd. and CFO Kværner Maritime AS.
Mr Olsen will continue in SeaBird for a period of time to ensure a smooth transition.
Tim Isden, CEO, stated " We welcome Kai into the SeaBird Group, and look forward to working together with him. In addition, we would like to express our most sincere thanks to Geir, who has been with us throughout our expansion period and his dedication and contribution is unquestionable. We wish him every success in the future"
For further queries contact:
CEO SeaBird Exploration
Phone: + 971 504 539075
CFO SeaBird Exploration
Phone: + 47 920 51 455
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SeaBird Exploration Limited (BVI) `SeaBird` is a global provider of marine 2D and 3D seismic data, solutions for seabed acquisition of 4C/4D multimode seismic, 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 water 2D/3D market. Main focus for the company is proprietary seismic surveys (contract seismic). SeaBird does not have a multi-client data library. 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.