Seabird Exploration Plc announced that it has signed a Letter of Award for a 2D contract in the eastern Hemisphere with a repeat client. The duration of the contract is expected to be around 3 months. Pending customary permitting and prefunding approvals, the contract is expected to commence medio Fourth Quarter 2023.

The contract has been extended by about one month and is now expected to be completed in late September. The SPS guided to commence in September 2023 has therefore been moved by approx. one month.

Consequently, Third Quarter utilisation will be higher than previously guided while the guided SPS downtime will move from Third Quarter to Fourth Quarter 2023.