SeaBird Exploration: completion of acquisition of BOA Galatea and issue of consideration shares
25 July 2019, Limassol, Cyprus
Reference is made to previous stock exchange notices of 11 April 2019, 12 April 2019, 29 April 2019, 24 May 2019 and 13 June 2019 regarding the acquisition by SeaBird Exploration Plc (the "Company") of BOA Thalassa and BOA Galatea.
The acquisition of BOA Thalassa was completed on 13 June 2019. The Company has on 25 July 2019 completed the acquisition of BOA Galatea. 23,055,372 new shares of the Company has been issued as part consideration for the vessel.
Following issue of the new consideration shares, the Company has 538,931,387 shares outstanding, each of par value USD 0.01.
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. SeaBird specializes in high quality operations within the high end of the source vessel and 2D market, as well as in the shallow/deep water 2D/3D and 4D market. Main focus for the company is proprietary seismic surveys (contract seismic). Main success criteria for the company are an unrelenting focus on Quality, Health, Safety and Environment (QHSE), combined with efficient collection of high quality seismic data. 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.
For further information, please contact:
Hans Petter Klohs
CEO SeaBird Exploration
Phone:
Nils Haugestad
CFO SeaBird Exploration
Phone:
