SBX - 2D and 3D shallow water contracts awarded
(Thomson Reuters ONE) -
Cyprus, 6 April 2011
SeaBird Exploration PLC ('SeaBird' or 'SBX') is pleased to inform the following
new contracts awarded in the 2D and 3D shallow water as set out below;
Hawk Explorer has been awarded a short survey in direct continuation from the
current employment in West Africa where the vessel will be employed until end
May / early June 2011.
Northern Explorer is currently carrying out a survey in East Africa with
expected completion mid May 2011, and has now been awarded a further contract in
South Africa where she will be employed until mid to end July 2011.
Geo Mariner is mobilising to South East Asia with arrival mid April, and has
been awarded a 2D contract for one month survey with client option to extend for
a further month together with an option for a further 3D survey. This will keep
the vessel busy to mid June, and with the option to end of July.
These contracts have a combined value of approximately US$ 7-9 million and
represent approximately 6 vessel-months utilization including mobilization time
and including the option on Geo Mariner.
With these awards and the general improvement in the tender activity SeaBird
believes that the 2D activity will increase going forward resulting in a much
improved utilization for our 2D fleet compared to 2(nd) half of 2010. Rate
levels are however still low but on profitable EBITDA levels.
For further queries contact:
Tim Isden
CEO SeaBird Exploration
Phone: +971 504 539075
Kai Solberg-Hansen
CFO SeaBird Exploration
Phone: +47 920 51 455
SeaBird Exploration PLC is a global provider of marine solutions for seabed
acquisition of 3D/4C/4D multimode seismic data with OBN operations, marine 2D
and 3D 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 water 2D/3D 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 Ltd. via Thomson Reuters ONE
[HUG#1503852]
Unternehmensinformation / Kurzprofil:
Datum: 06.04.2011 - 08:31 Uhr
Sprache: Deutsch
News-ID 53205
Anzahl Zeichen: 3736
contact information:
Town:
Oslo
Kategorie:
Business News
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"SBX - 2D and 3D shallow water contracts awarded"
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