SeaBird Exploration PLC ("SBX") hereby announces that it has entered into certain contracts of a varying nature. Firstly, SBX has entered into contracts for multiclient data sales relating to the Perdido survey in the US Gulf and for the late sales of a survey in the Barents Sea. These two contracts represent values of approx. USD 2.5 million and USD 3.8 million respectively. Secondly, the contract concerning the Spectrum survey outside Namibia has been extended. The contract comprises approx. 7.000 kilometers and is expected to represent a value of approx. USD 3.5 million.
For further queries, please contact Jan-Eivind Fondal
CEO SeaBird Exploration PLC
SeaBird Exploration PLC 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 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 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.