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SeaBird Exploration - 2D seismic contract extension

 Cyprus, 10th April 2012

SeaBird Exploration PLC ('SeaBird' or 'SBX') has received an extension from Spectrum on the contract for the Hawk Explorer in Brazil. The extension has a contract value of approximately USD 7-8 million and is estimated to be completed by September 2012.

For further queries contact:
Dag Reynolds
CEO SeaBird Exploration
Phone: +47 90883737

or


Nils Haugestad
CFO SeaBird Exploration
Phone: +971 504506353

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 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 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.

 

 


 

 

This information is subject of the disclosure requirements acc. to ยง5-12 vphl (Norwegian Securities Trading Act)