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Monday, 31 July 2017

SeaBird Exploration: SeaBird enters option agreement with TGS Nopec for up to 600 days of 2D seismic services

SeaBird Exploration Plc    

Published: 08:00 CEST 31-07-2017 /GlobeNewswire /Source: SeaBird Exploration Plc / : SBX /ISIN: CY0101162119

SeaBird Exploration: SeaBird enters option agreement with TGS Nopec for up to 600 days of 2D seismic services

31 July 2017, Limassol, Cyprus

SeaBird Exploration is pleased to announce that it has entered into an option agreement with TGS Nopec to provide up to 600 vessel days of seismic services. The agreement offers TGS access to one or more SeaBird vessels to perform seismic services on a global basis. Call-off under this option agreement may be made by TGS at its option throughout 2017 and the agreement will be extended through 2018 under certain conditions.

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 Quality, Health, Safety, Security and Environment (QHSE), 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.

 

For further queries contact:

Christophe Debouvry
CEO SeaBird Exploration
Phone: +4722402705

 

or

Nils Haugestad
CFO SeaBird Exploration
Phone: +4722402717

 





This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: SeaBird Exploration Plc, PO Box 1302 Vika, Oslo 0112, Norge
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