3 February 2014, Limassol, Cyprus
Reference is made to the stock exchange notices dated 19 December 2013 and 20
December 2013 published by SeaBird Exploration Plc (the "Company") regarding the
private placement of 12,000,000 new shares (the "Private Placement") and a
contemplated subsequent offering of 3,000,000 shares at NOK 3.0 per share (the
"Subsequent Offering"). The Financial Supervisory Authority of Norway has on 3
February 2014 approved a prospectus (the "Prospectus") concerning listing on
Oslo BÃ¸rs of the shares issued in the Private Placement.
Due to the current trading levels of the shares in the Company, the Board of
Directors has decided to cancel the Subsequent Offering. Consequently, the
Prospectus serves as a listing prospectus only and no shares or other securities
are being offered or sold in any jurisdiction pursuant to the Prospectus.
The Prospectus is available on the Company's web site www.sbexp.com.
The 12,000,000 new shares issued in the Private Placement have been registered
on a separate ISIN (being ISIN CY0104332115) pending approval of the Prospectus
will assume the Company's ordinary ISIN and be listed and tradable on Oslo BÃ¸rs
from and including 4 February 2014.
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 Health, Safety,
Security, Environment and Quality (HSSEQ), 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.
For further information please contact:
CEO SeaBird Exploration
Phone: +47 90883737
CFO SeaBird Exploration
Phone: +971 4 427 1700
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
SeaBird Exploration Prospectus 03 February 2014:
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Source: SeaBird Exploration plc via GlobeNewswire