Seabird Briefs Contract, General Updates

SeaBird provided an update on awarded contracts and general operational updates. 

Osprey Explorer has been awarded a firm contract for 7,000 kilometers in East Africa with LOA's for a further 10,000 kilometers conditional upon final contract terms and execution. 

Three of our 2D vessels are now engaged on contracts through to November 2010. This refers to, Northern Explorer, Osprey Explorer, and Aquila Explorer. Munin Explorer is contracted to mid September 2010, while Harrier Explorer is continuing on a long term charter to PGS to August 2011. The Geo Mariner, our 3D shallow water vessel, is employed through August 2010, with good prospects of continued work in West Africa. 

Hawk Explorer is presently working in Gulf of Mexico as source vessel for CGG Veritas. This engagement is not expected to be extended beyond end of June due to the impact of the recent oil spill, and SeaBird is pursuing several alternatives for this vessel in West Africa and elsewhere.

The OBN operation in North Sea with Hugin Explorer and Kondor Explorer is progressing as planned with 625 of 750 total Nodes deployed and to date 30% of the shooting program completed. Pending weather conditions the survey is expected to be completed early August 2010. SeaBird is actively pursuing alternative engagements and expects that follow-up employment can be secured.