SeaBird Exploration announce award of two new contracts

The Company has received a letter of award for a niche 3D survey in West Africa, with a total value of approximately US$6.5 million. The survey is expected to commence in the 2nd quarter of 2019, with a total duration of about 80 days. The total duration includes associated vessel transit.

Due to fleet positioning and other contract opportunities, SeaBird will time-charter the Nordic Explorer for this survey and will also bid the Nordic Explorer for subsequent opportunities in the second half of 2019. In connection with the charter agreement, SeaBird will receive nine km of ION DigiSTREAMER from the owners of the Nordic Explorer.

Furthermore, SeaBird has secured a source contract for an OBN survey in the Gulf of Mexico. The contract has an expected duration of three weeks and will start in early April. SeaBird's Harrier Explorer has been working on this survey since February 2019, under a previously announced contract. She will now be joined by the Osprey Explorer, which recently completed other work in the region, for a period of simultaneous source operations. Separately, SeaBird has also agreed a 21 day off-hire period for the Voyager Explorer related to a technical stop in January 2019.

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