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Green Energy Group (Seabird Exploration Plc) – Q4 2021 report and update

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

Green Energy Group (Seabird Exploration Plc) is pleased to announce its fourth quarter 2021 report.

Headlines Q4 2021

  • NAV reported at NOK 8.74/share end of Q4. The share price ended the quarter at NOK 3.55
  • Revenues of $10.0 million, up from $1.9 million in Q4 2020
  • Core EBITDA of negative $1.0 million up from negative $1.1 million in Q4 2020
  • Solid 2D production and outstanding operational and technical performance of the “Eagle Explorer”
  • Continued strong market outlook in both key battery metals and seismic services
  • A key mineralogy project was initiated in marine minerals
  • Received letter of termination for a 12 months OBN survey

Subsequent:

  • Launched a strategic review of Seabird Exploration to maximize shareholder value
  • The “Petrel Explorer” marketed for sale
  • Received LOI for OBN source contract following quarter end, while a 3rd party LOI for an OBN source contract has been cancelled

The company will host a webcast at 10:00 CET today. Please use the following link to join the webcast:

https://teams.microsoft.com/l/meetup-join/19%3ameeting_NTEyOTAyNWUtODcxMC00NGIzLTgwNDktMGZmMzBmNGJkNTFj%40thread.v2/0?context=%7b%22Tid%22%3a%2265f51067-7d65-4aa9-b996-4cc43a0d7111%22%2c%22Oid%22%3a%22473e7d3b-5f4f-4129-845f-e97d4b42a85e%22%2c%22IsBroadcastMeeting%22%3atrue%7d&btype=a&role=a

For further queries contact:

Erik von Krogh
CFO
Mob: +47 930 38 075

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