Seabird Charters Geo Pacific Vessel from Fugro

SeaBird Exploration Plc (“SeaBird”) has chartered the 3D vessel “Geo Pacific” from Fugro, through a subsidiary of Ordinat Shipping AS on a 4 month time charter that is intended to be converted into a 3 year bareboat with four one-year options to extend the contract.

Ordinat Shipping AS is the largest shareholder in SeaBird. Furthermore, SeaBird will also have purchase options on the vessel in year three and, to the extent the lease is extended, year four. The vessel is fully equipped and will be a valuable addition to SeaBird’s 3D capacity. The Geo Pacific will be SeaBird’s second 3D vessel in addition to the Voyager Explorer.

The Geo Pacific is capable of deploying a spread of up to 8 x 6000 m solid streamers. The Geo Pacific was rebuilt in 1998, 2003 and further upgraded in 2006. The vessel has an overall length of 82 m and is 20 m wide at stern.

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.

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January 2, 2013