Cyprus, 27 February 2012
SeaBird Exploration PLC ('SeaBird' or 'SBX') has received a Letter of Award for a major contract of 3D seismic work from a major oil company offshore Sub Sahara Africa. The contract represents a value in the range of US$ 11-12 million. The work will commence in early Q2 2012 and has an expected duration of several months. Seabird will use the 4-streamer vessel Voyager Explorer for the work.
For further queries contact:
CEO SeaBird Exploration
Phone: +47 46886200
SeaBird Exploration PLC "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 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/4D 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.