SeaBird Exploration Plc: second quarter 2020 report

14 August 2020, Limassol, Cyprus

SeaBird Exploration Plc is pleased to announce its second quarter 2020 report.

Headlines Q2 2020

  • Revenues of $17.1 million, up from $9.2 million in Q2 2019
  • EBITDA of $0.0 million, up from -$1.7 million in Q2 2019
  • Utilization of 30%, down from 68% in Q2 2019
  • Refinancing of bond loan completed

The company will host a webcast at 08:00 CEST today. Please use the following link to join the webcast:

https://teams.microsoft.com/l/meetup-join/19%3ameeting_MTFlMGNmMWItNGNhNy00Y2NjLTk4OGMtZjg3MDg1NDhkYzRh%40thread.v2/0?context=%7b%22Tid%22%3a%2265f51067-7d65-4aa9-b996-4cc43a0d7111%22%2c%22Oid%22%3a%22ff8ce7b2-09b4-4557-9e8a-b6f251728939%22%2c%22IsBroadcastMeeting%22%3atrue%7d

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:


Gunnar Jansen
CEO (acting)
Mob: +47 941 19 191


or


Erik von Krogh
CFO
Mob: +47 930 38 075

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