SeaBird Exploration Announces 2D Contract Award

Seabird Exploration Plc is pleased to announce that it has signed a Letter of Award for a 2D contract in the eastern Hemisphere with a repeat client. The duration of the contract is expected to be around 3 months. Pending customary permitting and prefunding approvals, the contract is expected to commence medio Q4 2023.

Reference is made to the 10 May 2023 press release regarding an OBN source contract for the Eagle Explorer. The contract has been extended by about one month and is now expected to be completed in late September. The SPS guided to commence in September 2023 has therefore been moved by approx. one month. Consequently, Q3 utilisation will be higher than previously guided while the guided SPS downtime will move from Q3 to Q4 2023.