SeaBird - Enter USD 30 million agreement with Spectrum ASA
(Thomson Reuters ONE) -
17 August 2012, Limassol, Cyprus:
SeaBird Exploration PLC ("SeaBird" or "SBX") is pleased to announce an expansion
of the existing Frame Agreement with Spectrum ASA ("SPU") for the acquisition of
2D seismic data. The previous agreement was that SPU committed to acquire 2D
data for a minimum value of USD 23 million over a period of 36 months with
commencement 20 May 2011.
SPU and SBX have today agreed to enter into a new agreement in which SPU agrees
to acquire 2D data for a minimum value of USD 30 million over 48 months,
commencing upon fulfillment of the USD 23 million in the initial contract. This
is estimated to be in September 2012. The pricing of the 2D data has been
adjusted as a result of increasing market rates in the 2D market.
For further queries contact:
Dag Reynolds
CEO SeaBird Exploration
Phone: +47 90883737
Nils Haugestad
CFO SeaBird Exploration
Phone: +971 4 427 1700
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.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters 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 Thomson Reuters ONE
[HUG#1634570]
Unternehmensinformation / Kurzprofil:
Datum: 17.08.2012 - 07:20 Uhr
Sprache: Deutsch
News-ID 175468
Anzahl Zeichen: 2927
contact information:
Town:
Oslo
Kategorie:
Business News
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"SeaBird - Enter USD 30 million agreement with Spectrum ASA"
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SeaBird Exploration plc (Nachricht senden)
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