4 January 2016, Limassol, Cyprus
SeaBird Exploration Plc ("SeaBird" or the "Company") is pleased to announce that Mr Christophe Debouvry has been appointed as new Chief Executive Officer of SeaBird. Mr Debouvry will assume the position with the Company on 18 January 2016.
The current CEO Mr Dag Reynolds will be stepping down from his position with effect from 1 January 2016. Annette Malm Justad, Chairman of the Board, will assume the position of interim CEO from 1 January until Mr Debouvry starts.
Christophe Debouvry has a long track record in international offshore operations and finance including more than 20 years with the leading seismic company CGG Group where he was most recently CFO for CGG Services. Since he left CGG in 2010, he has in particular worked with Oaktree Capital Management on the build-up of the UK-based Harkand Group, an offshore service provider. Throughout his career he has spent many years based outside Europe including in Asia Pacific, North Africa and South America. He has held senior management roles in seismic operations including Manager for CGG in Asia Pacific and Managing Director of Subseaco in Trondheim, Norway, and in the executive team of CGG including as SVP Strategy & Finance.
Christophe is a French citizen born in 1966. He holds a MSc in Electrical Engineering and an MBA from Insead.
Chairman of the Board, Mrs Annette Malm Justad, comments: "The Board of Directors of SeaBird is pleased to announce the appointment of Christophe Debouvry as the Company's new Chief Executive Officer. His set of competencies we believe will be vital to the Company in meeting the challenges of the current seismic market. The Board of Directors takes the opportunity to thank Mr Reynolds for his valuable services to the Company."
Christophe Debouvry says: "I am pleased to join SeaBird, a company that has developed a unique position within the seismic industry over the years, and am looking forward to joining forces with the team for preparing the company to emerge reinforced from the current market turmoil."
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.
For further queries, please contact:
Annette Malm Justad
SeaBird Exploration Plc Chairman
Phone: +47 95209396
SeaBird Exploration CFO
Phone: +47 22402700
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.