13 June 2017, Limassol, Cyprus
Reference is made to the stock exchange announcement of SeaBird Exploration PLC ("SeaBird") on 26 May 2017, concerning the proposed restructuring of the SeaBird group (the "Restructuring") and to the stock exchange announcement on 30 May 2017, regarding the calling of an Extraordinary General Meeting of SeaBird ("EGM") for the conversion of debt into equity and the approval of the Restructuring.
The EGM is now completed. The proposals on the agenda were adopted with requisite majority.
Following the EGM, SeaBird continues its efforts to satisfy the outstanding conditions for the proposed Restructuring.
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 Quality, Health, Safety, Security and Environment (QHSE), 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.
For further queries contact:
CEO SeaBird Exploration
Phone: +47 22402705
CFO SeaBird Exploration
Phone: +47 22402717