3 February 2014, Limassol, Cyprus
SeaBird Exploration Plc ("SeaBird") is pleased to announce that it has been
awarded a contract for the acquisition of a 2D seismic survey in East Africa
(the "Survey"). The Survey size is in the range of 16,000 to 20,000km and will
be acquired using the survey vessels Northern Explorer and Hawk Explorer.
Commencement of the Survey is within the next few days, with expected duration
of 90-100 days per vessel. Â The Survey has a value of approximately USD 16 to
17 million.
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
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: SeaBird Exploration plc via GlobeNewswire
[HUG#1758607]
