10.2.2025 08:00:01 CET | Seabird Exploration Plc | Additional regulated
information required to be disclosed under the laws of a member state
Nicosia, Cyprus - 10 February 2024 - Seabird Exploration Plc ("the Company")
today announces its results for the fourth quarter ending 31 December 2024.
Q4 HIGHLIGHTS AND SUBSEQUENT EVENTS:
* Revenues of USD 10.2m
* Adj. EBITDA of USD 4.6m
* Net interest-bearing debt of USD 9.4 million
* Utilisation rate of 99%
* Continued strong market outlook
* Signed a LOI to merge with Energy Drilling
Please find the full report and presentation attached.
AUDIOCAST INFORMATION:
Date: 10 February 2025
Time: 10:00 CEST
Link: https://msteams.link/GSLI
A Q&A session will follow the presentation. Written questions can be submitted
through the audiocast platform. A recorded version will be available on the
Company's website shortly after the presentation.
Reference is made to the Company's news release on 3 February, announcing the
signing of a Letter of Intent to merge with Energy Drilling in a share-for-share
acquisition. The merger will create a diversified offshore services provider
with strong cash flow and a commitment to shareholder returns. Due to the agreed
terms of the merger, the next proposed cash distribution is expected to be
announced after the transaction has been finalized. For more details on the
proposed merger with Energy Drilling, a replay of the merger webcast and
presentation is available on the Company's website.
DISCLOSURE REGULATION
This information is subject to the disclosure requirements in article 19 of the
Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading
Act.
CONTACTS
* Finn Atle Hamre, CEO, Seabird Exploration Plc, +47 958 35 991,
finn.atle.hamre@sbexp.com
ABOUT SEABIRD EXPLORATION PLC
Seabird Exploration Plc and its subsidiaries ("SBX" or "the Company") is a
global provider of marine 2D seismic acquisition and source vessel services to
the Oil & Gas industry. SBX strive to maximize shareholder value through
relentless focus on Quality, Health, Safety and Environment (QHSE), innovation
and technical excellence in the efficient collection of high-quality seismic
data and dedication to delivering the highest possible client satisfaction. The
fleet consist of two vessels that are upgraded and outfitted with
state-of-the-art equipment, in addition the Company has available equipment to
outfit additional third party vessels. The Company is registered in Cyprus, with
branch office in Bergen (Norway). The SBX share is listed on the Oslo Børs
(ticker: SBX). For more information, please visit https://www.sbexp.com/.
ATTACHMENTS
Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17848273/18415251/5601/Download%20announce
ment%20as%20PDF.pdf
2024 Q4 Seabird Exploration _ presentation.pdf -
https://kommunikasjon.ntb.no/ir-files/17848273/18415251/5598/2024%20Q4%20Seabird
%20Exploration%20_%20presentation.pdf
2024 Q4 Seabird Exploration _ report.pdf -
https://kommunikasjon.ntb.no/ir-files/17848273/18415251/5600/2024%20Q4%20Seabird
%20Exploration%20_%20report.pdf