SeaBird - 2D & 3D Contracts awarded
(Thomson Reuters ONE) -
14 April, 2010. Cyprus:
SeaBird Exploration Limited ('SeaBird' or 'SBX') is pleased to provide a
contract update regarding its business activities as set out below;
Further continuing a successful series of surveys in the Far East and Australia
that began late October 2009, the Aquila Explorer has been awarded two further
surveys in South East Asia and one in Australia with a combined total of
approximately 4,500 km. The surveys will commence after completion of her
current survey for the Victorian Government and her previously reported next
survey in South-east Asia. After these new surveys are completed this positions
the vessel back in Australia at the beginning of Q4 after her scheduled
dry-docking in September, continues her employment through October 2010 and
contributes about USD 3 million additional revenue to that previously reported.
A Letter of Intent has been signed for the Geo Mariner to commence a 3D survey
of approximately 350 sqkm in West Africa commencing mid April after having been
idle for part of Q1. This survey will generate about USD 5 million and employ
the vessel through mid to end July 2010.
The Northern Explorer has been awarded a contract of 15,500 km in continuation
of her current survey schedule in Indonesia. This survey will generate about USD
9 million and commence immediately after her scheduled dry-docking in Q2,
employing the vessel through to approximately end October 2010.
SBX can confirm now that the vessel to carry out the previously awarded and
reported survey in East Africa of approximately 5,000 km commencing mid to late
April will be the Osprey Explorer and employ the vessel through end May 2010.
For further queries contact:
Tim Isden
CEO SeaBird Exploration
Phone: + 971 504 539075
Kai Solberg-Hansen
CFO SeaBird Exploration
Phone: + 47 920 51455
SeaBird Exploration Limited (Cyprus) `SeaBird` is a global provider of marine
2D and 3D seismic data, solutions for seabed acquisition of 4C/4D multimode
seismic, 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, in the shallow water 2D/3D market and in 4C/4D multimode
seismic by nodal seabed acquisition. Main focus for the company is proprietary
seismic surveys (contract seismic). SeaBird does not have a multi-client data
library. 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. SeaBird is listed on the Oslo
Stock Exchange (Ticker: SBX) and currently has nine vessels in its global
operational fleet.
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 acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1403317]
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Datum: 14.04.2010 - 02:02 Uhr
Sprache: Deutsch
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