Green Energy Group (SeaBird Exploration Plc): LOI FOR A 2-VESSEL OBN CONTRACT

SeaBird Exploration has received a letter of intent for provision of two source vessels for an OBN project. The project will start in Q2 2022 and has an estimated duration of 100 days for a total of 200 vessel-days. SeaBird will utilize chartered vessels on the project, that will be outfitted with seismic source equipment from SeaBird’s equipment pool. With this LOI, SeaBird is pleased to announce that it continues to build back-log with some length for the first time in years. With the Fulmar Explorer already fixed on a one year contract the Company has more than 550 vessel-days of work for the next twelve months.  

“We are pleased to see that our asset-light strategy in combination with equipment consolidation is beginning to work. The Company has the capacity to operate far more than it`s own fleet with this platform in place”, comments CEO Gunnar Jansen.

For further queries contact:

Gunnar Jansen
CEO
Mob: +47 941 19 191

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.