SeaBird Exploration Plc: Letter of Award for Mexico and US East Coast
(Thomson Reuters ONE) -
20 November 2014, Limassol, Cyprus
SeaBird Exploration Plc ("SeaBird") is pleased to announce that the company has
received a Letter of Award (LOA) from TGS-NOPEC Geophysical Company ("TGS") to
acquire up to 300,000 km of 2D seismic data in Mexico and US Atlantic. The LOA
provides TGS access to charter up to six seismic vessels from SeaBird over a
period of approximately 36 months, and is estimated to commence 1H 2015, subject
to issuance of permits to TGS.
This announcement is further to a Letter of Intent issued 1(st) April 2014 for
Mexico and announced 2(nd) April 2014.
The survey will cover a minimum of 150,000 km and up to 300,000 km in one or
more of the areas, Mexico and US Atlantic waters, and will have an estimated
value between USD88 million (minimum program) and USD176 million (full 300,000
km).
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.
With reference to the announcement on 1 October 2014 on the company's refinance
efforts; pending further clarification, SeaBird has requested that Oslo Børs
maintains suspension of its shares and SBX03 bonds.
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 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#1872951]
Unternehmensinformation / Kurzprofil:
Datum: 20.11.2014 - 08:01 Uhr
Sprache: Deutsch
News-ID 354196
Anzahl Zeichen: 3233
contact information:
Town:
Oslo
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"SeaBird Exploration Plc: Letter of Award for Mexico and US East Coast"
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SeaBird Exploration Plc (Nachricht senden)
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