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Contract Update – Eagle Explorer and Covid-19

Written by Customer Service on . Posted in Public Companies.

CONTRACT UPDATE – EAGLE EXPLORER AND COVID-19Further to the notice of 27 January 2020, SeaBird Exploration Plc has been notified that the end-client has cancelled the two OBN surveys off West Africa due to the COVID-19 situation.  The Eagle Explorer has mobilized and is ready for work, and the Company expects to be made whole on the contract.SeaBird is a global provider of marine acquisition for 2D/3D and 4D seismicdata, and associated products and services to the oil and gas industry. SeaBirdspecializes in high quality operations within the high end of the source vesseland 2D market, as well as in the shallow/deep water 2D/3D and 4D market. Mainfocus for the company is proprietary seismic surveys (contract seismic). Mainsuccess criteria for the company are an unrelenting focus on Quality, Health,Safety and Environment (QHSE), combined with efficient collection of highquality seismic data. All statements in this press release other than statementsof historical fact are forward-looking statements and are subject to a number ofrisks, uncertainties and assumptions that are difficult to predict, and arebased upon assumptions as to future events that may not prove accurate. Thesefactors include SeaBird`s reliance on a cyclical industry and the utilization ofthe company’s vessels. Actual results may differ substantially from thoseexpected or projected in the forward-looking statements. This information issubject of the disclosure requirements pursuant to section 5-12 of the NorwegianSecurities Trading Act.For further queries contact:Gunnar JansenCEO SeaBird ExplorationPhone: +47 9411 9191

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