SeaBird Vessel Contracts
9/3/2012 9:13 AM EST
3 September 2012, Limassol, Cyprus:
SeaBird Exploration Plc ("SeaBird") is pleased to announce that Voyager Explorer
has received a letter of award from an oil company in South East Asia. The
contract value is approximately USD 7.5 million and contract duration is
estimated to 50 days. The Voyager Explorer has mobilized from East Africa and
work will commence early September.
The Northern Explorer will start a joint multi-client survey with Spectrum ASA
in Sub-Saharan Africa. This survey is a joint project, and not covered by the
recently signed Global Framework Agreement. Project duration is estimated to 30
days.
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.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
For further queries contact:
Dag Reynolds
CEO SeaBird Exploration
Phone: +47 90883737
Nils Haugestad
CFO SeaBird Exploration
Phone: +971 4 427 1700
[HUG#163835