SeaBird - OBN Contract Update
(Thomson Reuters ONE) -
Cyprus, 4 August 2011
SeaBird Exploration PLC ("SeaBird" or "SBX") is pleased to provide a contract
update regarding its business activities as set out below;
Immediately following completion of the Rosebank second stage survey for Chevron
North Sea Limited and Partners expected mid August, a contract has been signed
for the Hugin Explorer and Munin Explorer to carry out a 4C NODE survey of
approximately two to three weeks duration in the Norwegian Sea for ExxonMobil
Exploration and Production Norway AS as the PL596 operator. This is a pilot
survey utilizing the SeaBird's proprietary NODE operation and data acquisition
technology to characterize sub-basalt structures which are difficult to image
with other seismic technologies. The data acquired will remain in the ownership
of SeaBird for 10 years, together with show rights.
The approximate value of this contract is US$3.6m, with additional revenue
potential from farm-in rights and/or for buyout of data ownership.
PL596 Partners:
ExxonMobil Exploration & Production Norway AS 35%
E.ON Ruhrgas Norge AS 20%
Bayerngas Norge AS 15%
RWE Dea Norge As 15%
Spring Energy Norway AS 15%
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 acc. to §5-12 vphl
(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#1536140]
Unternehmensinformation / Kurzprofil:
Datum: 04.08.2011 - 08:41 Uhr
Sprache: Deutsch
News-ID 56973
Anzahl Zeichen: 3725
contact information:
Town:
Oslo
Kategorie:
Business News
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"SeaBird - OBN Contract Update"
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