SeaBird Exploration Plc has negotiated an early termination of the current contract on the Harrier Explorer vessel against a fee, and that the vessel has been contracted to MultiClient Geophysical ASA (MCG). The contract is a completion of the Barbados multi client survey started in 2012. Duration is estimated to 30 days with an option to extend approximately 25 days. Total contract value for the firm period is about USD 3.8 million, including payment for the work carried out in 2012. Estimated contract value for the optional period is USD 1.9 million.
Press Release, March 7, 2013