SeaBird contract award
February 3, 2014 - London
| 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. 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:
CEO SeaBird Exploration
Phone: +47 90883737
CFO SeaBird Exploration
Phone: +971 4 427 1700
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: SeaBird Exploration plc via Globenewswire