15 January 2014, Limassol, Cyprus
SeaBird Exploration Plc ("SeaBird) will, in partnership with Acorn Geophysical Ltd ("Acorn"), commence a project in the Gulf of Guinea. The 3D acquisition program is of approximately 1,500km² and will be acquired using the survey vessel Geo Pacific currently in transit from the Caribbean. Commencement is within the next few days, with expected project duration of 45 days. The project has been prefunded with approximately USD 4.8 million.
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 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 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.
Acorn Geophysical offers a broad spectrum of exploration and technical solutions to the oil industry, promoting local content, sustainable community development and training.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
For further queries contact:
CEO SeaBird Exploration
Phone: +47 90883737
CFO SeaBird Exploration
Phone: +971 4 427 1700