Northern Explorer signs letter of intent (“LOI”) for a 2D seismic survey in West Africa

Northern Explorer signs letter of intent (“LOI”) for a 2D seismic survey in West Africa

SeaBird Exploration Plc (“SeaBird”) announced that Northern Explorer has signed a letter of intent (“LOI”) for a 2D seismic survey in West Africa. The survey size is approximately 1,700 km with an estimated value of USD 1.3 million. The project is expected to start in February 2015 and will have an estimated duration of two weeks.

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.

With reference to the announcement on 1 October 2014 on the company’s refinance efforts; pending further clarification, SeaBird has requested that Oslo Børs maintains suspension of its shares and SBX03 bonds.

Source: SeaBird Exploration Plc

Oil and Gas Press

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