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2023-07-14 09:10:09
14.7.2023 09:10:07 CEST | Seabird Exploration Plc | Additional regulated
information required to be disclosed under the laws of a member state
Pafos, Cyprus - 14 July 2023 - Seabird Exploration Plc (the "Company") is
pleased to announce that it has signed a Letter of Award for OBN source services
in the Western Hemisphere spanning several projects. The duration of the
contract is 2 years, the counterparty is a repeat tier 1 client and the "Fulmar
Explorer" will perform the services. The contract is expected to commence in
September this year in direct continuation of the current contract. The
contracted dayrates are reflective of an improving OBN market.
"We are pleased to report this 2 year contract to all our stakeholders. It is a
game changer for the Company as it provides a cashflow visibility that is
unusual in our industry. With this contract, we are particularly pleased to
report back to our shareholders a total EBITDA backlog now in the vicinity of
the Company`s current market capitalisation. The Board intends to distribute any
excess cash to shareholders. I`d like to take this opportunity to commend our
CEO Finn Atle Hamre & the entire SeaBird team for building strong operational
performance and terrific team work over time", said Ståle Rodahl, Executive
Chairman, in a comment to the award.
DISCLOSURE REGULATION
This information is subject to the disclosure requirements in article 19 of the
Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading
Act.
CONTACTS
* Finn Atle Hamre, CEO, Seabird Exploration Plc, +47 958 35 991,
finn.atle.hamre@sbexp.com
ABOUT SEABIRD EXPLORATION PLC
Seabird Exploration Plc and its subsidiaries ("SBX" or "the Company") is a
global provider of marine 2D seismic acquisition and source vessel services to
the Oil & Gas industry. SBX strive to maximize shareholder value through
relentless focus on Quality, Health, Safety and Environment (QHSE), innovation
and technical excellence in the efficient collection of high-quality seismic
data and dedication to delivering the highest possible client satisfaction. The
fleet consist of two vessels that are upgraded and outfitted with
state-of-the-art equipment, in addition the Company has available equipment to
outfit additional third party vessels. The Company is registered in Cyprus, with
branch office in Bergen (Norway). The SBX share is listed on the Oslo Børs
(ticker: SBX). For more information, please visit https://www.sbexp.com/.
ATTACHMENTS
Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17848273/2492/3459/Download%20announcement
%20as%20PDF.pdf