SeaBird Exploration has received a memorandum of agreement (MOA) from an unnamed company to acquire up to 45,000km of 2D seismic data in North and South America. Under the terms of the MOA, the company will charter one seismic vessel from SeaBird over a period of approximately 12 months, likely beginning in February 2015, subject to issuance of permits.
The survey will cover a minimum of 17,000km and up to 45,000km in several areas in North and South American waters and will have an estimated value of between US$11 million (minimum program) and $30 million (full 45,000km).
With reference to the announcement on 1 October 2014 on the company's refinance efforts; pending further clarification, SeaBird has requested that Oslo Børs maintains suspension of its shares and SBX03 bonds.