29 January 2021, Limassol, Cyprus
SeaBird Exploration Plc is pleased to announce its fourth quarter 2020 report.
Headlines Q4 2020
- Revenues of $1.9 million, down from $7.6 million in Q4 2019
- Utilization of 29%, down from 42% in Q4 2019
- EBITDA negative $1.1 million, up from negative $5.5 million in Q4 2019
- EBITDA of $0.2 million in 2020 vs a loss of $5.6 million in 2019 despite utilization declining from 62% to 34%
- Awarded 2D contract in the Eastern Hemisphere with expected duration of 120 days
- Signs of market recovery
- Capitalizing and listing Green Minerals marks a change in strategy and a commitment to the energy transition
- A complete rebranding of the Group will be presented to the AGM in May
The company will host a webcast at 08:00 CET today. Please use the following link to join the webcast:
https://teams.microsoft.com/l/meetup-join/19%3ameeting_ZDlkZjhiODgtNTQwOS00Y2RmLTgwMjItZGIzMzhhMTEwMjYz%40thread.v2/0?context=%7b%22Tid%22%3a%22d7181576-1d07-4383-b8ac-6451ab33feae%22%2c%22Oid%22%3a%22ab38ca4b-0069-4d66-b5ab-30f40647842e%22%2c%22IsBroadcastMeeting%22%3atrue%7d
For further queries contact:
Erik von Krogh
CFO
Mob: +47 930 38 075
All statements in this press release other than statements of historical fact are forward-looking statements and are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include SeaBird`s reliance on a cyclical industry and the utilization of the company's vessels. Actual results may differ substantially from those expected or projected in the forward-looking statements.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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