Cyprus, 9 December 2011
Reference is made to previous stock exchange notice dated 25 November 2011 for Summons to bondholders' meeting and 5 December 2011 for Notice from bondholders' meeting in relation to bondholders approving the restructuring of SeaBird Exploration PLC ("SeaBird" or the "Company"). The partial redemption and conversion is currently scheduled to take place on 19 December 2011 for both SBX01 RET (ISIN NO 001 0326044) and SBX02 RET (ISIN 0010353915) providing that all conditions precedent in the bondholders' meeting are met.
Today, 9 December 2011 will be the last day of trading in the two outstanding bond issues SBX01 RET and SBX02 RET providing that all conditions precedent in the bondholders meeting are met.
For further information, please contact:
CEO SeaBird Exploration
Phone: +971 504 539075
SeaBird Exploration PLC "SeaBird" is a global provider of marine acquisition for 2D and 3D 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 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.