SeaBird Collects New Seismic Contracts

Continuing a successful series of surveys in the Far East and Australia that began late October 2009, SeaBird's Aquila Explorer has been awarded two further surveys in South East Asia and one in Australia with a combined total of approximately 4,500 km. The surveys will commence after completion of her current survey for the Victorian Government and her previously reported next survey in Southeast Asia.

After these new surveys are completed, this positions the vessel back in Australia at the beginning of 4Q after her scheduled dry-docking in September, continues her employment through October 2010 and contributes about US $3 million additional revenue to that previously reported.

Additionally, a Letter of Intent has been signed for the Geo Mariner to commence a 3D survey of approximately 350 sqkm in West Africa commencing mid April after having been idle for part of 1Q. This survey will generate about US $5 million and employ the vessel through mid to end July 2010.

The Northern Explorer has been awarded a contract of 15,500 km in continuation of her current survey schedule in Indonesia. This survey will generate about US $9 million and commence immediately after her scheduled dry-docking in 2Q, employing the vessel through to approximately end October 2010.

SeaBird can confirm now that the vessel to carry out the previously awarded and reported survey in East Africa of approximately 5,000 km commencing mid to late April will be the Osprey Explorer and will employ the vessel through end May 2010.