The company has also suspended its full year 2020 financial guidance.
The work commitment on Licence P2470 consisted of a small volume of 3D seismic reprocessing.
In January 2020 there were plans for approximately 50 exploration wells, but this has been reduced to 40 by the effects of the Covid-19 pandemic and low oil prices.
More Exploration news
The Monument exploration well found approximately 200 ft (c. 60 m) of net oil pay with good reservoir characteristics in Paleogene sandstone.
The company, under contract to TGS, has completed the offshore 'seep-hunting' surface geochemical analysis and geotechnical campaign of the MSGBC Basin.
A client of SeaBird Exploration has cancelled two OBN surveys off West Africa due to the Covid-19 situation.
The new deadline for the closing date of Lebanon's ongoing second offshore exploration licensing round is 1 June 2020.