SeaBird Exploration Plc: Extension of Hawk lease
March 07 2016 - 6:38AM
7 March 2016, Limassol, Cyprus
SeaBird has signed an addendum to the charter
party relating to M/V Hawk Explorer to further extend the lease on
current payment terms from 31 May 2016 to 28 February 2017. At
the end of the lease, the company will have the option to purchase
the vessel and related equipment for USD 1.75
million. Alternatively, the company may at its discretion
extend the lease for a firm period up to and including 30 November
2017, at which point it will have the option to purchase the vessel
and related equipment for USD 67,800. During the initial lease
period, SeaBird may at its sole discretion terminate the charter on
31 August 2016 or 30 November 2016.
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.
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
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: SeaBird Exploration Plc via Globenewswire
HUG#1992315
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