SeaBird to Start Rosebank Survey Earlier

SeaBird announced that an agreement has been reached with Chevron North Sea Limited (on behalf of itself and the other Rosebank co-venturers: Statoil, OMV, and DONG related to the earlier announced award of the Rosebank 2 survey. SeaBird has been granted the option to start the 2nd stage of the Ocean Bottom Node survey at the Rosebank field with the Hugin Explorer as Node vessel and Munin Explorer as source vessel earlier than the initial agreed start date. Hugin Explorer has just completed classification work at a yard in Denmark, and is presently mobilizing to the Rosebank Field.

Estimated start-up is 13-15 April, which is about 3 weeks ahead of the earlier agreed start date of around May 5, 2011. This will potentially improve SeaBird's revenue in 2Q 2011.