7 August 2017, Limassol, Cyprus
Reference is made to the announcements of 1 August 2017 and 4 August 2017 concerning the completion of SeaBird Exploration PLC's debt restructuring.
The deposit receipts for the 54,389,711 new shares issued as part of completion of the debt restructuring have now been delivered through the VPS by the Company's VPS registrar and are tradeable. The Company today has 57,455,145 issued shares, each with a par value of US$0.10. On this basis, the debt restructuring announced by the Company is completed, including the announced changes to the SBX04 Bond Loan.
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 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