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SeaBird Exploration Plc: New contract award in offshore wind and fleet update

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SeaBird Exploration Plc
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14 April 2021, Limassol, Cyprus

SeaBird Exploration Plc (“the Company”) has secured a contract for the Petrel Explorer as an accommodation vessel for a wind farm maintenance campaign in the Baltic Sea. The contract will start in late April with an expected duration of 4 months. This is the first contract in offshore wind for the Company.

The Geo Barents, which the company initially had allocated to the contract announced on 29 March 2021, will be employed directly by the ship-owner on a long-term contract outside of the seismic market. The company has instead entered into a charter contract on similar terms as for the Geo Barents for another third party vessel with similar capabilities, which is expected to start working for the Company on the previously announced contract in May.

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.