Limassol, Cyprus
Reference is made to the announcement of 1 August 2017 concerning the completion of SeaBird Exploration PLC’s debt restructuring.
As part of completion of the debt restructuring, the board of directors of SeaBird Exploration PLC has resolved to issue 54,389,711 new shares. The new shares will upon registration by the Registrar of Companies in Cyprus be delivered to investors in the VPS, expected to take place on or around 8 August 2017. After the registration of the new shares, the company will have 57,455,145 issued shares, each with a par value of US$0.10.
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 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: +47 22402705
or
Nils Haugestad
CFO SeaBird Exploration
Phone: +47 22402717