SeaBird Catches Seismic Gig for ONGC Field

- SeaBird Catches Seismic Gig for ONGC Field

Tuesday, August 23, 2011
SeaBird Exploration plc

SeaBird announced through its wholly owned subsidiary SeaBird Exploration FZ LLC the receipt of a Notification of Award (NOA) from Oil and Natural Gas Corporation Ltd of India (ONGC) for a 4C-3D Seismic API Pilot Project in Mumbai High Field. This is an official notification that SBX has been awarded Tender No Y16KC10017 and consequently the Hugin Explorer and Munin Explorer will mobilize from the Norwegian North Sea immediately following the conclusion of the current ExxonMobil contract expected to be around 10th September 2011.

This is a most prestigious contract award for SBX - as well as being the eighth contract award since operations started - and a highly important survey for ONGC as the data to be acquired is necessary for the planned optimal placement of two development wells from the upcoming platforms within the survey area by June 2012. ONGC has requested start up as soon as possible and SBX estimation for commencement on survey site is around mid October 2011.

The total number of node stations deployed will be in excess of 2,300 at 200 meter spacing, and data acquisition will be carried out in two swaths by rolling phases of approximately 760 nodes each. The technical expertise and track record of SBX in previous surveys has been an important element of the choice of contractor by ONGC, and furthermore this contract is another important step forward in the developing OBN market sector as it covers processing and interpretation for both pressure and converted (shear) wave data.

Value of the contract is USD 40 million and duration is estimated to be about 110 days including mobilization from North Sea.

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SeaBird Secures LOI for 2D/3D Surveys in Far East

- SeaBird Secures LOI for 2D/3D Surveys in Far East

Tuesday, July 05, 2011
SeaBird Exploration plc

SeaBird provided a contract update regarding its business activities.

After completing half of her multi client survey in the Gulf of Mexico mid April, Osprey Explorer, will from mid July continue her multi-client survey following dry dock and standby waiting on environmental and other governmental approvals. This survey will be completed end August. Management expects cost recovery during the survey period including standby time with potential uplift following sales of survey data in the second half of 2011. She will then immediately mobilize for her previously reported survey in South America until early December 2011.

After completion of her current survey in South Africa around mid July, Northern Explorer will immediately mobilize for West Africa following an award for a survey with expected completion end September 2011 and thereafter commence a short survey through to end October.

SeaBird has received Letter of Awards for 2 further contracts for 2D/3D surveys in Far East, with expected completion January 2012.

These contracts have a combined value of about US $25-30 million. In addition, the harrier Explorer is continuing on her long term charter with PGS to mid September 2011.

CEO, Tim Isden, commented, "We are encouraged by the increase in volume and continuity in the 2D and low end 3D market. In addition we experience slightly firmer rates. SeaBird has a high quality fleet and an excellent reputation with clients, and this brings a higher expectation of awards. To date in 2011, SeaBird has reported contracts worth around US $70 million with potential MC sales uplift above that figure."

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Seabird to Acquire Seismic in Bonaparte Basin

- Seabird to Acquire Seismic in Bonaparte Basin

Thursday, June 30, 2011
by Rigzone Staff

Octanex N.L. subsidiary Goldsborough Energy Pty Ltd. has awarded Seabird Exploration FZ LLC a contract for the acquisition of 3D and 2D marine seismic data within the areas of WA-422-P, WA-420-P, WA-407-P and WA-421-P, which lie offshore the northwest coast of Western Australia.

Octanex reports that no less than 600 sq km of 3D seismic and approximately 1,000 kms of 2D seismic will be acquired under the contract. The Octanex Group has now substantially completed the reprocessing of more than 11,000 line kilometers of good quality 2D seismic acquired by previous operators over its suite of South Bonaparte permits.

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Spectrum Secures Seismic Acquisition Deal with Seabird

- Spectrum Secures Seismic Acquisition Deal with Seabird

Tuesday, June 21, 2011
Spectrum

Spectrum has secured a significant 2D seismic acquisition capacity with Seabird for expansion of their Multi-Client library, together with a re-let agreement for Spectrum's vessel, the GGS Atlantic.

As part of the continued growth of Spectrum's Multi-Client library, the company has now committed to the acquisition of 2D seismic data worth 23 million dollars (US) over the next 3 years. This commitment is part of a signed frame agreement with SeaBird Exploration to draw on their extensive worldwide seismic fleet. Acquisition costs to Spectrum will be fixed at competitive market rates.

This agreement will ensure an efficient and sustainable working partnership perpetuated by Spectrum and Seabird since Spectrum's Big Wave in the Eastern Gulf of Mexico that utilized Seabird's vessel the R/v Munin to acquire infill data for this flagship product.

Under the agreement the bareboat charter of Spectrum's own seismic acquisition vessel, the GGS Atlantic will be assigned to Seabird until August 2012 on the same terms currently enjoyed by Spectrum.

This important Agreement is appropriate for both companies in that it ensures Spectrum can concentrate on and maintain core company objectives, values and expertise in the Multi-Client field, while simultaneously giving Seabird a progressive financial incentive commensurate with their own central company competence.

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SeaBird Awards Two 2D Contracts

- SeaBird Awards Two 2D Contracts

Friday, June 17, 2011
SeaBird Exploration plc

SeaBird reported that two new 2D contracts have been awarded.

The Aquila Explorer has been awarded two LOI's for surveys of combined 4,600 line km in Indonesia for approximately two months work prior to her previously announced contract on May 6. The vessel will now be working in direct continuation until mid September 2011.

The Hawk Explorer after completing her scheduled dry-dock in Las Palmas will mobilize to Mediterranean Sea where she will commence a 1,500 line km survey until mid July 2011.

The combined contract values for these contracts are approximately USD 5 million.

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SeaBird, Spectrum Enter Frame Agreement

- SeaBird, Spectrum Enter Frame Agreement

Thursday, May 19, 2011
SeaBird Exploration plc

SeaBird announced the signing of a Frame Agreement with Spectrum for the acquisition of 2D seismic data to a minimum value of USD 23 million over a period of 36 months, and a Re-Let Agreement for the MV GGS Atlantic on a bareboat charter basis until August 2012. The effective date of these agreements is May 20, 2011.

Under the terms of the Frame Agreement, Spectrum will purchase vessel capacity from SBX under specific Call-off Orders for worldwide acquisition surveys. Spectrum is required to prioritize GGS Atlantic where geographic and technical parameters allow. Spectrum is also required to commit to 50% of the acquisition value of USD 23 million within the first 12 months of the Frame Agreement.

SBX, subject to vessel availability, commits to deliver 2D seismic acquisition services to SPU to a minimum value of USD 23 million at agreed rates over the period of 36 months. SBX has an option to extend by 6 months should vessel availability not allow completion, on same terms and conditions.

The Frame Agreement is non-exclusive beyond the above conditions and provides SBX with confirmed backlog across the 2D fleet.

Tim Isden, SeaBird's chief executive officer, commented, "We are very pleased to have signed these agreements with Spectrum for the mutual benefit of both companies. Spectrum is an aggressive MC company with good sales record and with a comprehensive library covering many geographic areas. SeaBird's fleet of 2D vessels are well positioned around the World to efficiently cover SPU's requirement for 2D services. For the GGS Atlantic, it makes sense for SBX to absorb this vessel into our current operational structure with only marginal risk, while SPU can concentrate on multi client projects and data processing. We see this as a good strategic move for both companies with a continuing involvement over the long term."

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SeaBird Announces 2D Contract Awards

SeaBird Announces 2D Contract Awards

Friday, May 06, 2011
SeaBird Exploration Limited

SeaBird Exploration Limited on Friday issued an update regarding its business activities as set out below:

Aquila Explorer has commenced a short 4D survey in Australia for an oil major and will then commence a multi client survey for one month until mid to end June. SeaBird has also received a Letter of Award for a 4,400 line-km survey in Indonesia to follow in direct continuation. The vessel will be employed until early August 2011.

SeaBird Exploration PLC "SeaBird" is a global provider of marine solutions for seabed acquisition of 3D/4C/4D multimode seismic data with OBN operations, marine 2D and 3D 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 water 2D/3D market.

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SeaBird Awarded 2D, 3D Shallow Water Contracts

SeaBird Awarded 2D, 3D Shallow Water Contracts

Wednesday, April 06, 2011

SeaBird Exploration plc

SeaBird updated on the following new contracts awarded in the 2D and 3D shallow water.
Hawk Explorer has been awarded a short survey in direct continuation from the current employment in West Africa where the vessel will be employed until end May/ early June 2011.

Northern Explorer is currently carrying out a survey in East Africa with expected completion mid May 2011, and has now been awarded a further contract in South Africa where she will be employed until mid to end July 2011.

Geo Mariner is mobilizing to South East Asia with arrival mid April, and has been awarded a 2D contract for one month survey with client option to extend for a further month together with an option for a further 3D survey. This will keep the vessel busy to mid June, and with the option to end of July.

These contracts have a combined value of approximately US $7-9 million and represent approximately 6 vessel-months utilization including mobilization time and including the option on Geo Mariner.

With these awards and the general improvement in the tender activity SeaBird believes that the 2D activity will increase going forward resulting in a much improved utilization for its 2D fleet compared to 2nd half of 2010. Rate levels are however still low but on profitable EBITDA levels.

SeaBird to Start Rosebank Survey Earlier

SeaBird to Start Rosebank Survey Earlier

Tuesday, April 05, 2011

SeaBird Exploration plc

SeaBird announced that an agreement has been reached with Chevron North Sea Limited (on behalf of itself and the other Rosebank co-venturers: Statoil, OMV, and DONG related to the earlier announced award of the Rosebank 2 survey. SeaBird has been granted the option to start the 2nd stage of the Ocean Bottom Node survey at the Rosebank field with the Hugin Explorer as Node vessel and Munin Explorer as source vessel earlier than the initial agreed start date. Hugin Explorer has just completed classification work at a yard in Denmark, and is presently mobilizing to the Rosebank Field.

Estimated start-up is 13-15 April, which is about 3 weeks ahead of the earlier agreed start date of around May 5, 2011. This will potentially improve SeaBird's revenue in 2Q 2011.