Green Energy Group (Seabird Exploration Plc) – Q1 2022 report and update

Green Energy Group (Seabird Exploration Plc) is pleased to announce its first quarter 2022 report.

Headlines Q1 2022

  • NAV reported at NOK 7.23/share end of Q1. The share price ended the quarter at NOK 3.50
  • Revenues of $5.0 million, up from $3.7 million in Q1 2021
  • EBITDA of $0.2 million up from negative $0.5 million in Q1 2021
  • “Eagle Explorer” completed 2D contract with strong production and outstanding operational and technical performance
  • Awarded a 90 days OBN source contract
  • Awarded an OBN source contract that later got cancelled following the Ukraine invasion
  • Cancellation of a 3rd party OBN source contract
  • Completed first marine minerals research cruise
  • Initiated a key mineralogy project
  • Continued strong market outlook in both key battery metals and seismic services

Subsequent:

  • Signed LOI regarding potential sale of the seismic operation
  • Completed subsequent offering of 3,500,000 shares

The company will host a webcast at 10:00 CEST today. Please use the following link to join the webcast:

https://teams.microsoft.com/l/meetup-join/19%3ameeting_NTA0OThlN2EtZWYzYi00YmI4LTlhODMtZjM0NTNhMzY2YWRl%40thread.v2/0?context=%7b%22Tid%22%3a%2265f51067-7d65-4aa9-b996-4cc43a0d7111%22%2c%22Oid%22%3a%22473e7d3b-5f4f-4129-845f-e97d4b42a85e%22%2c%22IsBroadcastMeeting%22%3atrue%7d&btype=a&role=a

For further queries contact:

Erik von Krogh
CFO
Mob: +47 930 38 075

 

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