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SeaBird Exploration Plc: SeaBird Exploration Plc: Letter of Award for Osprey Explorer

2014-08-06 07:59:00
Ticker Giełda ISIC Kraj Miasto
SBX XOSL Norway Oslo

6 August 2014, Limassol, Cyprus

SeaBird Exploration Plc ("SeaBird") is pleased to announce that Osprey Explorer

has received a letter of award from TGS-NOPEC Geophysical Company for a 2D

seismic survey in North America. The survey will cover approximately 12,000 km

and will have an estimated value of USD 7.5 million. The project is expected to

start in Q3 2014 and will have an estimated duration of 100 days.

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.

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

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Source: SeaBird Exploration Plc via GlobeNewswire